Innovation is the answer to industry decline
We all know of famous examples where that decline has happened. Most recently, Eastman Kodak springs to mind – the company with a 131-year history that filed for bankruptcy in January. In their case, it looks like their challenge wasn’t figuring out new technology, but figuring out the business model and new ways to create, capture and deliver value.
In my business, we’re very much drawn to pioneering companies that like to innovate and deliver value.
One particular example is our client CFH, the South-West’s print and mail specialists. CFH was once regarded as part of the print manufacturing industry – an industry that has gone through rapid decline. But their focus on technological innovation led to the pioneering development of hybrid mail solution Docmail four years ago. Aimed primarily at the SME market, it’s now a hugely successful part of their overall business model with a number of spin-offs.
One of these is Docmail LocalPost – a greener and cheaper alternative to Royal Mail delivery for businesses that have local customers. Timed to coincide with the increase in stamp prices, this service was extensively trialled before being launched in Bath and Bristol this month. More city-based services are planned over the next few years.
CFH’s commitment to low-carbon manufacturing and a sustainable environment has also led them to being nominated as Sustainable Manufacturer of the Year in the SW’s Business Insider Awards to be announced in November.
– Nicki Websper, director and marketing consultant, Forsyth Websper