Increasing profit by monitoring prices and lapsed customers
- John Nairn (Unlicensed)
- Sharon Harden (Unlicensed)
Overview
The intention of this session is to show you practical ways to monitor and improve the GP you are getting from sales, product prices and customers and contracts. We have picked the top few tips and included them in this session. There are a lot of additional things you can do in addition to those listed here, we can't get through them all here. We will look at some in later sessions.
To get any outcome from this session, you have to control your time to implement the processes below on a weekly and monthly basis. Just running the reports when you remember will not work. The only way in which this will work is if you:
- understand what to do
- make it somebody's responsibility to implement those procedures on a regular basis
- check occasionally that the processes are being followed
- contact Readysell if change of staff or other factors cause those checks to stop working for you
Readysell is happy to produce any amount of documentation or training videos to help you and your team with your training. If you want any documentation improvements, please let us know. We are particularly interested in making the screens easier to use and using colours etc to inform your team as they complete their work.
Sales force should be one of your keys ways of creating and maintaining revenue. But reviewing your data in Readysell on a regular basis can help you maintain profitability.
Video
Ok, what can I do about it?
First of all, make a note to find out about training and new product availability. For example start planning on using sales force and attending Office Brands dealer business planning.
Then:
- How can I free up cash and space currently tied up in dead stock
- What inactive or lapsed customers should I be chasing up
- Which sales are losing me money and what can I do about it
- Which product sell prices need to be fixed
- How can I fix gross profit figures for list bulk or other sell prices before they are sold and before they cost me money
- How can I warn my team when the gross profit on sales or quotes are too low
- Turn your data into information your team can use with filters and conditional formatting
So whats next?
Well then, next you need to create an action plan around today's session and assign responsibility to team members to undertake the work. Unless you do this, all the work above is a waste of time:
Procedure for taking action using a report
Then make sure you send an email to Readysell about how useful (or not) this session was to your business and let Readysell know about the changes you have made. We need your input to help us keep improving the program.