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I bet you didn’t increase your prices accordingly compared to the auto industry
I’m doing less vehicle signwriting in the past 2 years. (chip shortage / not many new vehicles to buy these days, we are told)
I’m searching for a smaller vehicle at the moment. The prices are high. The prices are in some occasion 10k extra than 1 year ago.
I bet you didn’t increase your prices accordingly compared with the increase that the auto industry did.
I feel this increase is orchestrated, although I understand supply and demand.
Still, when I I put 25 bucks on the quotation, I get questions as to why I’m increasing the price.
Small business are not as untouchable as big businesses.
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8 Replies
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Perhaps not to that extent, but I did put my prices up, for no other reason than if they’ve spent so much on their vehicle, why would they expect to spend little on their signage?
I get two types of customer, those who want to spend nothing and I let them go elsewhere, and those who like the work we do, for a fair/reasonable price.
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I am constantly trying!
Good subject, I will read it with interest. 🤓 -
we have been putting extra £££ on here and there but as you say it is difficult. i would be really interested to hear tips by any of you on how you manage to convince your customer to pay more than he normally does or worse, pay more than he can get it along the road from the next sign company. 😏
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I recently did a piece for a magazine on this subject.
I’ve really concentrated on van signage, I’m geared up for it, got processes and everything in place to make it easy for myself and the customer.
Think sales before signs, the act of making the sign is generally easy, the hard part is winning the right work.
What makes you different?
Why would a potential customer pay more for your service?
What are you offering that the competition aren’t?
Why are they approaching you?
If they’ve had a cheaper quote why are they approaching you? Granted some will always be chasing for it cheaper.
I’ve had many who have a had ‘free designs’ by cheaper companies, and the customers thought they looked rubbish, (or I’ve told them as much) or have seen our work and liked ours better. Suddenly they can see the value in the extra £££’s.
Sometimes the other company blanks the customer, after all they’ve done a free design, if they don’t like it they move on to the next job… I’ve had these customers pay deposits larger than what these companies were wanting for the whole job.
Find their pain point, or problem, and solve it.
Notice I’ve not mentioned a prices yet?
Have a full handle on your costs, know how much it costs an hour, or day to keep your business open, be realistic in how many hours your actually work that can be billed to customers, update it, and have 100% confidence in it.
If it’s costing £150 a day to keep the doors open, and food on the table, whats the point spending £50 in materials and 8+ hours, designing, producing, and installing a van for £200.
When you’ve got a handle on costs, and confidence in your numbers, its really easy to say no to jobs and customers. Have confidence in the product, and service you offer.
I managed to get a NVQ in Sales a few years back, and worked with a business coach with industry experience, and it was an eye opener. This is a small part of what I did through that, I know it sounds boring but working on my business rather than in it has been the best thing I’ve done, hence why I advocate it so much.
Each time you get a customer who wastes your time, or is solely priced focus, spend 5minutes thinking how could you have stopped that happening, what questions could you have asked, or what could you have done differently, then with the next customer try it.
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Vans (low spec) that were 17k now they are 35k.
Mental.
Ended up getting small Hyundai i10.
5 years warranty, dealer garage 5km away from me.
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That’s a massive increase, what vans are they and where are you?
I’m not sure what the poverty spec vans started at or where they are now, but my Transit custom DCIV 170 Sport (top of the range with all the toys, basically) was £35K+vat new, I bought it for £30K off the forecourt, It’s now approaching 4yrs old. When it was 3 yrs old they offered me £26k px but, the new (same) van had jumped to £43k, more than 20% increase for the same van!
As for pricing, I’m always adjusting my pricing, we’re up to £60p/h now. materials I haven’t increased much (cad and digi), only panels and wrap / colour change is based on increased pricing. I’ve always had big mark ups on regular vinyls so still make 4x linear mtr cost at worst, 10x cost at best, though those prices include cutting & weeding time for basic work. There’s a “production time” (hourly rate) if I know it’s goiong to take more than a few minutes pre mtr to weed.
I find most people who are prepared to come in, sit down and discuss will see the value in my costs, those who are just internet price surfing will rarely come back, but I don’t want those “one time, I’m your best mate, do me a great price” customers anyway, great prices come with years of loyalty!
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I decided to put standard 10-15% onto all my quotes. i have been surprised that they are now accepted. it makes me wonder if i should have increased them more! 🤔
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Funnily enough I was speaking a friend, and commented how what jobs I’ve got at the moment are paying what I’m asking. Some disappear never to be seen again, and others come back out of the blue weeks later (I suspect having tried else where and deciding to come back)
The other thing to note, I’m getting 50% deposits out them all, without doing anything other than sending a quote.
I’m not rushing, or stressing, but working at a steady pace for a fair rate of pay 👍
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