Less than two months into 2023 and inflation is still rising. The Department of Labor just released its latest numbers this week and food prices were 11.8% higher in January than they were a year ago.
To help put this into perspective, Forbes reported that the U.S. has had an annual inflation rate of 1.88% for the last decade. In 2022, that rate of inflation was measured at 8% and climbing.
Sprinkle in a nationwide labor shortage, and what do you have? An uncertain economic period, to say the least. In times of uncertainty, we need to adapt. We must take innovative approaches to providing value to our customers.
How Media Frames Can Help Battle Inflation
To keep up with inflation, many small businesses report having to raise the prices they charge customers, according to the US Chamber of Commerce. As companies pay more for things like raw materials and transportation, that cost will eventually trickle down to the consumer.
For industries that rely heavily on B2B sales (like signage), customers will experience diminishing purchasing power over time. That shrinking revenue can limit your clients ability to purchase products they had planned to buy from you. This means you will need to adjust your pricing accordingly or risk the loss of revenue.
One way to mitigate this downward cycle is to find alternate ways to provide similar value for less.
Affordable Price Point
Media frames can be a great way to achieve your client’s goals, but at a much more reasonable price point. One way Media Frames are able to keep down the price for customers is the use of inexpensive vinyl banner media. Since most sign and print shops already produce banners in house, it won’t require any additional investment.
Another advantage media frames can provide is lower overhead. Most media frames come custom cut for your project, so no need to invest in a bunch of inventory. That means you won’t need floor space to store the product or equipment to to move it around.
Easy to Scale
Media Frames can also scale very easily. It is one of the most cost effective ways to cover a large area with graphics. You can practically double the size of the project with very little increase to labor cost.
– See Our Media Frame Gallery For Money Making Ideas –
How Media Frames Can Help You with The Labor Shortage
“This labor shortage that we have,” the Fed chair said, “it doesn’t look like it’s going away anytime soon. It’s been very disappointing and a little bit surprising.”
The Great Resignation shifted our labor force beginning in 2020, and we had over 4.2 million people quit their jobs as of November 2022.
Not a great outlook from the Fed, but again there are things we do. Finding good people for skilled positions, requiring certifications of other extensive knowledge, is becoming increasingly difficult. Holding on to those people can prove to be even tougher.
No Special Skill or Certification Required.
Selling products that require complicated production or technical installations, can limit the talent pool from which you have to choose. Media Frames are a great product that require no special skill or certification. When we say low training threshold, we mean if your installer can use a drill and a level, they are qualified!
No Fabrication Required
Products that require a great deal of fabrication can add to your labor cost and eat up floor space. Processes like welding and electrical, for example, can add time and cost to a job and eat into your margins. Media Frames come custom cut to your job specs with zero production required. Ackland Media Frames even use raw edge vinyl media, eliminating the time and cost of special finishing. A simple product with a simple design, Media Frames can increase your team’s productivity and save on labor cost.
While inflation can be tough to navigate, there are things we can do to provide more value and still turn a profit. It’s important to find products that can fulfill your customers’ needs, at a price that is mutually beneficial. Media Frames can provide that opportunity for so many signage projects on buildings, walls and trucks.
If you would like to see for yourself how Ackland Media Frames work, get our 18″ Sample Board below for FREE!