Are you aware of what products are bringing in the most profit for your print shop? The products that bring in the most profit may not be the same products that you are selling the most of. Sometimes you can get so busy with running a shop, maintaining sales leads, and your own personal life that you may not be aware of your most profitable item.
With shopVOX, this information is computed for you and is ready for your review anytime you want to be in the know. Here is a screenshot for you to see:
How this information is useful:
- Better marketing efforts: When you know which products are bringing in the most profit, you can create a marketing plan around these products.
- Save money on marketing: If you a promoting a product that is not bringing in enough profit, then you can adjust your marketing accordingly.
- Seek better pricing from suppliers: If you observe that your profit margin is low, perhaps you can seek out new suppliers with better pricing or make a better deal with your current supplier. This will increase your profits.
- Offer smarter discounts: Do you customer respond to sales? If so, you know which products you are able to offer discounts on so that you can still make a decent profit.
Simply by using shopVOX to manage your shop, you are also able to know information like this that can greatly benefit your shop’s revenue. To view your product mix, visit your Business Intelligence Dashboard. Your product mix information is new the bottom of the page. You can view this information for any time frame that you want to.
If you are not using shopVOX already, then you can sign up for a free shop management trial to experience how easy the software is to use to manage your shop’s workflow.
Joanne Cipressi is the Content Marketer and Director of Social Media at shopVOX inspiring business owners to better manage their careers, employees, customers, projects, production, invoicing, and all other areas of their management needs through tips and motivation.