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Responding to the findings of the latest Canon Insight Report on print buyers’ perceptions of the value of print, Canon UK, a leader in imaging solutions, has developed a new measurement tool to help Print Service Providers (PSPs) to calculate the return on investment (ROI) for specific print applications.

The Insight Report – entitled The Bigger Picture – Your customers’ view of the value of print – found that while 87% of organisations across Europe confirmed that print plays an important part in their communications strategy, only one in ten have a formal process for evaluating the effectiveness of the print they commissioned. The reasons cited by print buyers for not doing so were that the value of print was too hard to quantify and that they didn’t know how to measure it effectively.

Consequently, Canon has looked to provide a solution in the form of its new print-centric ROI tool. Canon held a focus group with PSPs, the British Printing Industries Federation (BPIF) and print buyers in order to gain industry input on how to measure the ROI of print. This was combined with the findings from Canon’s latest research during development of the solution that could begin to help PSPs demonstrate the value of print to their customers.

The easy-to-use tool enables PSPs to estimate the potential ROI of a campaign involving print for existing and prospective customers. With marketing budgets tighter than ever, the measurement tool offers PSPs the potential to help their customers enhance the performance and cost-effectiveness of their print applications. It also serves as a proof point that PSPs can use to support their service offerings by presenting customers with the costs, results and benefits of previous customer success stories.

Powered by Microsoft® Excel®, the ROI tool enables PSPs to profile a customer and their planned campaign, setting out clear aims and objectives. PSPs can determine what application(s) would be best for the customer to use to meet their goals. They can then calculate the potential ROI for the customer on promotional (such as direct mail), multi-channel (campaigns involving print alongside other forms of communication), transactional (bills) and consumer (such as books, magazines and photobooks) applications.

Each ROI calculation is supported by relevant market insights and research into each specific print application. This information is derived from numerous independent sources to provide PSPs with a valuable resource of statistical data applicable to their customers’ businesses.

Andy Harris, European & UK Graphic Arts Customer Marketing, Professional Print Solutions, Canon Europe, comments: “We developed this measurement tool as part of an ongoing process to help answer many of the questions raised by print buyers in the latest Canon Insight Report, which looked at their view of the value of print. We wanted to provide our customers a means by which to analyse and measure the effectiveness of print applications in their campaigns.”

Harris explains: “We believe this is the first tool of its kind in measuring the ROI of these specific print applications. This is the first step as we are look to collate feedback from the market in order to evolve the tool. We will continue to refine and adapt the tool in response to the requirements of printers and their customers. We are looking to drive the debate on ROI, while in the process provide our customers with a way to demonstrate the effectiveness of print to their customers – ultimately helping them to grow their business.”

For further information, please visit http://www.canon-europe.com/roi/