Sign & Digital Graphics

2015 WRAPS

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12 I WRAPS I 2015 B u s i n e s s & s a l e s Facing the Challenge Always an element of discussion, pricing is important to wrap shops and their customers. Shops must be cognizant of their expenditures when adding up labor, facilities, equipment and material costs. They must also realize that they don't only compete against other wrap shops but also against other forms of media such as billboards and banners. However, wrappers demand the very best out of their work. They value quality and, in turn, rely on their products to provide them with superior results. As shown in CHART B, price is not the top determinant when wrap shops make a new purchase. Dependability of the product is king. When asked about the most important influential factor when making a decision to purchase a product, a resounding two-thirds of wrap shops answered with "product dependability." Perhaps even more revealing is that only five percent of shops pointed to price as the major reason for buying a product. Other f actor s such as product warranty, technological advancements, and manufacturer/dealer service all outranked price as the main motive to make a purchase. Wrap professionals say they trust in the products they use and want to pass along the value of those products to their customers. Also note that all of these shops use different printers, materials, and other equipment/supplies during a project; still, price is the least popular determining factor when buying products for their shops. Turning the tables and placing these wrappers in their clients' shoes, the question was asked, "What's the biggest challenge you face with your customers?" In this instance, 70 percent of wraps professionals believed that price was the biggest obstacle, with design and install problems a very distant second (as shown in CHART C). So, why is it that wrap shops seem to place little emphasis on the price of their products while customers are strongly fixed on pr ice when considering a job? When digging deeper into the issue and finding out exactly what is communicated between a wrap shop and the customer, it appears there is more of a breakdown in communication between expectations versus price. Many times, clients think wraps are "cool" and want to promote their businesses in different ways so they turn to wrappers with no awareness of cost, life of the graphics or time of install. Value and expectations So here's the question: What are wrap shops doing to ensure they are fully communicating the value and expectations of a wrap job upfront? Below are some suggestions to properly educate a customer: • Explain that vehicle wraps reach a wider audience and have more longevity than traditional ads • Clarify that wraps are an investment that will pay off through time • Position your shop as a partner with your customer (don't treat it as a one- time transaction) • Stress the professionalism of your shop and the detail/attention that is involved • Walk through a checklist of what's included, explaining the timeframe of each step (i.e. consulting, design, print, install, inspection, follow-up, etc.) • Stay involved with your customers and confirm their satisfaction level is high If wrap shops are able to discuss everything that goes into a project, then the amount of surprises will be limited as will any unnecessary, spur-of-the- moment negotiating during the process. While wraps become more popular, it's important for those in the industry to properly communicate the elements of price versus value. analysis of Resources In large part, shops, manufacturers and suppliers alike have been very open to helping one another to advance the wraps market. Training, for example, has been ever-present in the wraps community for years, available in a number of different forms. Whether a new installer has Product Price Product Dependability Manufacturer/Dealer Service Product Familiarity Technological Advancements Product Warranty 7% 5% 10% 7% 5% 66% Price is too high Design/install problems Job not done on time Competition Can't match color Expectations not clear No answer 10% 5% 3% 2% 2% 8% 70%

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