5 Key Traits of Highly Successful Wide-Format Printers

As you browse this year’s WFI Top 150 list, you might wonder what sets those companies apart from your own. What separates those multi-million dollar wide-format operations from everyone else? What strategies allow them to consistently win high-profile jobs and clients? What contributes to their high client satisfaction? What are they doing that has allowed them to rise to the top of the industry?

The answers to why those companies are successful, and what they have in common, might — or might not — surprise you.

1. They are Constantly Investing

In talking to many of these companies throughout the year, one thing always stands out — they are the ones constantly evaluating what’s new in the market, and they are always looking ahead to the next investments.

They have embraced that old adage that to make money, you first have to spend money. They recognize that it’s one thing to make it to the top, but to stay there, you must constantly reinvent and reevaluate your offerings to ensure you can always say “yes” to whatever a customer might walk through the door with.

That’s not to say they’re dropping hundreds of thousands of dollars on brand new wide-format presses every year. On the contrary, most will go through cycles where they make big investments, refreshing their main equipment every five to 10 years. But, in the years between, they’re always paying attention. They’re looking at finishing innovations, advances in software, productivity, workflow, and substrates. They’re also looking at ancillary services that might complement their current suite of products. In short, the most successful companies in our industry never accept “good enough” for their operations and are always looking at new ways they can improve.

2. They Think Outside the Box

In the past, a wide-format producer probably specialized in a few different areas — some of the same that many wide-format printers still focus on today, such as signage and vehicle wraps. They added other ancillary projects as they made sense.

However, the most successful have realized that in this world, where convergence is more than a buzzword, they can’t just stick to the basics. The Top 150 companies have branched out, looking for new verticals they have never served before.

And that makes a difference. No one sector, vertical, or industry is immune to challenges and downturns. The past decade has certainly shown us that in stark relief. But by diversifying their client list, these successful operations can absorb and shift costs as one segment lags and another picks up. It means they can be far more flexible over time and be ready to embrace change wherever it might crop up.

3. Partnerships are Critical

Whether it’s developing closer partnerships with clients, building better relationships with vendors, or even teaming up with ostensible competitors, the Top 150 know they can’t be successful in a vacuum.

On the client side, you’ve probably heard it a thousand times by now — customers don’t want transactional vendors anymore; they want partners to help them grow their own businesses. Wide-format printers who have embraced that concept and go to their clients not just to sell something but to help them develop strategies to get the most out of every dollar are the ones rising to the top. It takes a different mindset to develop partnerships instead of just making sales calls, but it’s necessary if you want to succeed in today’s competitive world.

And, speaking of vendors, the Top 150 also approach their own vendors with the same mindset.

Developing closer relationships with their press manufacturers, ink providers, substrate producers, and even those providing services like third-party installation means they become more than just a number on a spreadsheet. Like with your own customers, they are more likely to come to you with solutions to unique challenges they’ve noticed your shop faces, or with new products or ideas they think could be a benefit. It can mean the difference between getting materials during a shortage and having to turn customers away because you can’t get what you need. It can mean the difference between getting a challenging job and being able to troubleshoot successfully with those providing the materials, or ultimately having to walk away because you just can’t do the work.

Finally, partnerships in the industry are invaluable today. There is currently very strong merger and acquisition activity in wide-format, but there are just as many partnerships in which the two companies remain independent but work closely together. This could mean developing a great working relationship with a trade printer that has equipment you aren’t yet ready to invest in. It could mean fostering ties with another shop on the other side of the country to provide more “local” work, meaning lower shipping costs and reduced transit time. And, yes, it could mean testing the waters to see if there’s enough synergy to eventually lead to a merger or acquisition.

4. They are Continuously Curious

It’s always fun to tour one of the Top 150 shops — there is usually something they’re “just messing around with” to check out, something not yet ready for prime time, but that they’re playing with to see if they can make something of it.

Maybe it’s trying new substrates that no one has tried running through a wide-format press before. Maybe it’s experimenting with different ink types to see what happens. Maybe it’s playing with different finishing options to push the boundaries of what print can accomplish. The key thing is that they are still excited to see what else print can do. They haven’t lost the passion for print amid the daily doldrums of running a business.

Sure, it might not be the key element of the day-to-day operations, and it’s not always going to be top of mind, especially during a busy run. But the most successful in our industry never let themselves completely forget how excited they were about print when they first entered the industry. They haven’t lost that “what else can it do?!” mentality, and because of that, they are the companies coming up with innovative new applications or ideas that win them the business and trust of the biggest customers.

5. They are Always Learning

Finally, the Top 150 all realize they don’t know everything. They are continually looking for ways to expand their knowledge base, which in turn helps them become better printers, better businesspeople, and just better humans.

They are jumping into PRINTING United Alliance’s iLEARNING+ catalog and encouraging their staff to explore new ideas and get new certifications. They are attending the Wide-Format Summit, where they can network with peers and get an intensive, in-depth look at the latest technologies in the industry. They are attending PRINTING United Expo, where they can see and compare not just the biggest and most well-known solutions, but also see the smaller companies and the innovators looking to shake things up, and see how those innovations could shape their own futures. They are reading industry publications, attending webinars, listening to podcasts, and remaining tuned in. They are always looking for someone new to learn from.

None of these things is revolutionary by itself. None of these traits is likely anything you haven’t heard of before. But as the WFI 150 demonstrates, truly embracing these traits and making them key elements of your business strategy is ultimately what helps a business rise to the top. What’s most exciting, however, is that it’s never too late to start. Whether you’re just getting by, doing well, or even if you’re already one of the top 150 but want to rise even higher, taking these key traits and making them your own could mean the difference between surviving and thriving well into the future.