Print Summit 2020: Digital as a multiplier to the print industry

He said that very little efforts are being made to sell product. “This is the biggest challenge. That’s why millennials are not excited to get into this industry.”

Bhargava said that digital age is not for digital marketing. “Digital has crossed every single vertical and industry. It can help us vie customers, understand consumer trends, manage directives, and get people trained.”

He added that digital should be used as a catalyst across all industry and organisations, which becomes a multiplier for whatever functions the companies do. “The key is it has to be used like a medium,” Bhargava emphasised.

He said disruptions are happening very rapidly due to the exponential technologies such as AI and blockchain. 

“3D printing was invented 35 years ago. In the next 5 years, it can 100 times bigger than what it is today, because when exponential technology reaches a particular mass, it starts multiplying,” Bhargava explained.

He further explained that when steam engine was made, it disrupted transportation. “However, exponential technologies can disrupt several things at the same time.”

He spoke about people talking about digital making losses. “Companies such as Netflix, Facebook, Microsoft and Amazon were not profitable during the first 10 years. However, they put efforts to make it as profitable as it is today,” Bhargava said.

He suggested that it’s important to understand the concept. “The days of the customers coming to us is gone. We need to get out of our chair and explore the market.”

“We need one-to-one connect with our customers. Some packages today have personalised QR codes, which helps the companies to connect to different unique customers. Even today, several multinational giants still don’t have data of people who are buying their products,” he added.

He suggested that print and digital have to come together. 

Giving an example about South Korea, he said an entire store was printed on trains. “Every single item had QR codes. You can scan and order the product, and before you reach home, your product will be delivered at the doorstep.”

He said that if a similar strategy is adopted in India, companies could reap huge benefits, keeping in mind the six billion annual railway commuters. 

“I think the future of print for me is hyperlocal. You can do so many things through personalisation with the data and customers we already have. If you bring the innovation to customer, that will expand his business, and automatically your business,” Bhargava suggested. 

“As soon as we start thinking ourselves as people who are helping our customers to accomplish their business objective, I think it will really grow the industry,” he concluded.