By Jeff Lazewski, jlazewski@lessitermedia.com
Digital Manager of Creative and Design Services, Lessiter Media
Benjamin Franklin is often quoted as saying "a penny saved is a penny earned." While that isn't exactly a historically accurate quote, he is onto something in a business sense.
Working in marketing, we know how quickly costs can add up for various services or materials. Any savings opportunities you can identify in your marketing expenditures — whether it's changing providers/suppliers, changing specs/materials, finding bulk rates that lower costs, etc. — will instantly hit your bottom line in a positive manner. For every dollar you save, your net operating income automatically grows by a dollar as well.
We regularly review our business expenses and explore ways we can reduce costs without sacrificing efficiency, accuracy or quality. About 5 years ago I was part of a team that proposed a major cost savings idea that could reduce our signage expenses by thousands of dollars.
That idea: purchase our own large format printer.
We had just moved into a new office and were in the process of quoting 30 large canvas prints to spruce the place up. The quotes we received ranged anywhere from $7,000 to $15,000.
As you can probably guess, large format printers aren't necessarily the cheapest item to go out and purchase either. So the initial reaction was a mix of genuine interest and equally genuine skepticism. But when we did the math — including the upfront costs to purchase the printer, canvas paper, and ink — we realized we could do the canvas project ourselves for less than the cheapest quote we received and the investment would have already paid for itself after just one project.
When we also factored in the additional ongoing cost savings we would see by printing the 100s of signs each year for the industry events we host in-house, the decision was a no brainer and unanimously approved.
Most businesses, whether it be a store front or a corporate office setting, have a need for signage of some sort. Could be vinyl window clings that need to be rotated out on a monthly promotional schedule, signage for safety policies and equipment instructions, or even artwork to create an inviting space for your employees.
I've put together a few reasons that you may want to consider for bringing your own printing projects — or other marketing needs — in house to reduce expenses.
Have questions about what you could be doing in house or equipment needed to make it happen? Shoot me a note and we'd be happy to take a look at your needs and discuss some options to put some money back in your budget.
