Rob Fearn, European marketing manager at PrintSoft, warned that the print industry has an important role to play in securing its own future and that "leaner times call for smarter tactics".

He said: "Historically, the printer's role was to print as much volume as possible. Now this just isn't enough and printers also need to take a consultative role, advising their customers on the most effective communications strategy to illicit the greatest responses from customers."

Fearn advised print companies to combine their printing operations with advice on marketing and communications strategy to achieve a higher margin.

Rory Staunton, managing director of IT research company, Strategy Partners, agreed: "Organisations like banks and retailers no longer just want a printer; they want someone who understands marketing communications and can help them interact more effectively with their customers through targeted, relevant print."