Lately it seems like “the pinch” is just getting more and more painful. On one side is a volatile supply chain and on the other is a big hike in prices. For businesses caught in the middle, it can feel like you’re being asked to spend more and more for smaller and smaller returns.
With so much pressure to reduce expenses, how can you trim costs on your custom product labels, without risking their quality (or your supply)?
The Wrong Way to Save Money on Your Custom Labels
There’s nothing wrong with trying to save money, but there are wrong ways to go about it. Taking a broad–strokes approach could even lead you down a path that costs you more in the long run. As you look for ways to save money on your custom labels, you’ll want to avoid these two common mistakes.
Expensive Mistake #1: Buying Too Many Labels in Bulk
There’s a reason stores like Costco and Sam’s Club are popular with small businesses: More often than not, buying in bulk is one of the best ways to save money. So, if it works for ingredients and office supplies, why not apply the same principle to the way you purchase your labels?
The answer boils down to risk. If you have a label line of products that frequently changes or is subject to the whims of a volatile market, purchasing your labels in bulk may ultimately leave you with a large inventory of custom labels you won’t need. Any cost savings go right out the window when you’re left with packaging you can’t use.
Fortunately, there is a way you can purchase in cost-saving quantities while minimizing your risk. A good label vendor can show you the math to identify the sweet spot for your business.
Expensive Mistake #2: Leaping Before Looking
One way some companies seek to save money on labels is by making quick, reactionary changes to the label itself. That might mean changing the design of the label, opting for a cheaper material, or even shrinking the size of the label in a bid to reduce the overall cost.
While there can be good reasons to change your labels, it’s not a decision to make in haste. Changing the material, for example, could leave you with a label that’s more prone to peeling, water damage or other unfortunate side effects. Supply chain problems also mean that your new materials may also run out unexpectedly. Remember, virtually all materials have been affected by these challenges to some degree, and disruptions continue to happen – those that are available today may be gone by tomorrow!
Changes to the design can also have unintended consequences for your customers. If they’ve come to associate a certain look with your brand, a new design could cause some confusion. Shrinking the size of the label might require cutting helpful information or making the print too small to read, causing frustration for the people who buy from you.
If you do decide to change your label, make sure to do it in conversation with your vendor so they can understand your goals and make their best recommendation.
Smart Cost-Saving Tactics for Custom Label Printing
If buying in bulk and changing your labels aren’t the best ways to save money, what is?
That’s kind of a trick question – as with any business strategy, the effectiveness of specific tactics will often depend on your circumstances.
That’s why you shouldn’t go it alone. For the best results, you want to work with a label vendor who understands your business as well as the market. Your labels aren’t just any old purchase, after all; for your customers, they’re the face of your business.
The right label vendor will work with you beyond the sales transaction to help you create an experience. They will serve as a valuable resource for your organization and operate as part of your team. You’ll be able to rely on their knowledge and experience as you assess your needs and make decisions about how to save money without compromising the quality of your labels.
Because while buying in bulk or changing your labels might not work as across-the-board solutions, there are ways to use similar tactics to achieve your desired results. Your vendor may recommend, for instance, ordering your labels on a roll instead of individually cut — a good way to save money without overbuying.
Similarly, if you do need to change your label materials, a good vendor will work with you to find a comparable option that won’t damage your label’s integrity.
The key takeaway here is that your vendor should do more than provide you with labels. They should provide you with expertise and guidance that helps you meet your goals for your business.
How The Label Printers Helps Reduce Costs on Your Custom Product Labels
Labels are not necessarily top-of-mind for most companies. If you were to write down all your commodities, there’s a good chance your custom product labels would be quite low on that list.
None of that changes the fact that every little bit of savings makes an impact on your bottom line. And if your business has a large label portfolio, the savings opportunities could turn out to be much more significant. At the very least, the question deserves your attention.
Our approach to finding the answer is to engage in a label review. Working closely with you, we’ll identify those opportunities where you could save money and create a painless strategy to implement a solution.
As a vendor, we don’t just sit back and wait for the checks to come in. We proactively engage to help you quickly reach your goals. Isn’t that what your business deserves?
Read This Before You Make Your Next Purchase
When it comes to cutting costs on your custom product labels, there’s no “magic bullet” that will fix every problem. But there are strategies and tactics that can help your business save money without sacrificing the quality of your labels.
Want to learn more? Get expert guidance on purchasing custom labels with our buying guide.