DIEMAKERS GET DOWN TO BUSINESS
Absorbing the cost of new technologies may be challenging, but this challenge may force the consolidation necessary to ultimately spark industry growth. "Increasing costs of technology mandate a larger business," writes one diemaker. "Small shops can't afford capital investments necessary to keep up with the competition," acknowledges another. A solid number of diemakers characterize consolidation as a necessary element in the industry's positive evolution.
Diemakers should seize the opportunity to carefully examine their marketing plans, find common denominators among the benefits they bring to their varied customer bases, and leverage these strengths more aggressively. Shops should also continue to promote the educational and technological resources they can offer to the many converters who will be pursuing transitions into new markets. Effectively turning these strengths into new business, however, may require creative alliances or even consolidation with competitors.
Editor's Note: This material is excerpted from a presentation by Susan Friedman at the IADD 2001 Annual Meeting.