Pitney Bowes Reveals StrategyPitney Bowes announced a four-part plan yesterday to expand its share in what it estimates is a $250 billion mail and document systems market.
Pitney Bowes said it now has 2 percent of this market. The four steps unveiled at a meeting of financial analysts in New York are:
· Expanding its presence into strategic segments of the mail stream.
· Providing a broader array of solutions and services for document management.
· Increasing its global presence.
· Selling more of its products and services to existing customers, particularly at the high end.
"During visits with many of my peers over the past seven years, they have told me without exception that constant communication with their customers is essential," Pitney Bowes chairman/CEO Michael J. Critelli said. "Yet they routinely underestimate the costs while feeling that they are not reaping the maximum benefits from their investments.
"Our growth strategies are based on the tremendous opportunities from all of this unmanaged communications activity, and it is my vision that whenever any organization thinks about getting the most out of their investments in mail and documents, the first company that comes to mind is Pitney Bowes."
One way Pitney Bowes plans to expand its participation in the mail stream is by focusing on intelligent mail, in which each mail piece is uniquely identified and can be traced from creation to delivery.
Critelli said that intelligent mail will provide various new revenue opportunities through increased digital mailing system demand, information-based value-added services and multicarrier distribution solutions.
Pitney Bowes also provided testimony on intelligent mail at the President's Commission on the U.S. Postal Service yesterday in Austin, TX.
Beyond intelligent mail, Pitney Bowes senior vice presidents outlined key growth initiatives including PSI work-sharing operations; document lifecycle management; and postage and carrier payment financing.
Pitney Bowes, Stamford, CT, recently began an integrated marketing campaign to redefine its brand and raise visibility among senior management of the world's largest enterprises. The campaign, which Critelli referred to as a strategic necessity for future growth, will use various marketing strategies such as advertising, direct mail and the Web site.