This Dynamic Industry
Someone asked me recently why I like covering the catalog industry. I told him because it’s ever-evolving.
He exclaimed with some incredulity: “Ever-evolving?! A catalog is a catalog. It’s a traditional medium. How is it evolving?”
I gave him my quick rendition on how new software and management techniques, as well as e-commerce tactics, make the industry quite dynamic. He seemed mildly convinced. Afterwards I thought more about his original question: What is it about cataloging that I find so fascinating?
On the surface, it’s a fairly simple proposition: You buy products, market them and sell them for more than what you paid for them. But, oh, how the devil is camped out in the details.
What do you sell and to whom? How do you find new customers and retain previous ones? How do you craft the creative for those items? What catalog paper best conveys your brand image? What should you look for in a catalog printer?
Moreover, what are the most efficient in-bound and out-bound shipping methods to move your inventory? What software and management techniques should you employ to improve efficiencies? How do you expertly manage the inevitable returns? What should your Web site include and how should you best design it for maximum return on investment?
How do you retain your best employees and encourage those whose potential hasn’t yet surfaced? How do you balance profitable business practices with community support and good corporate citizenship? How do you comply with all of the new government regulations?
In short, how do you manage all of the endless details in this ever-evolving — and as such, endlessly fascinating — industry? To be sure, some tactics are sound and proven. In this month’s issue, for example, columnist Stephen Lett offers tips on how to maximize your list-rental income (see “16 Ways to Maximize ...”).
But in keeping with my thesis that this truly is one dynamic industry, see Alan Rimm-Kaufman’s article (“Develop Responsible E-mail Campaigns”) on how to comply with the new Can Spam Act and employ today’s best practices in e-mail marketing.
This month, we also launch a new Catalog Success publication: Idea Factory. It’s an opt-in e-mail newsletter that offers both proven and newly innovative business ideas you can put into action. We’re starting this bi-weekly newsletter primarily because we continually uncover more cataloging ideas than we’d ever have room for in our print edition. For your free subscription to Idea Factory, visit: www.catalogsuccess.com/ideafactory. I’m confident you’ll find it useful.
