Profitability by Product
We have worked with clients whose products with the greatest revenue generation were actually the products that were losing the company the most money with every sale. We look at each individual product in its “fully burned” state (not just the cost of goods, but operational costs associated with developing, building, manufacturing, marketing, and selling those products) and provide a report illuminating the true profitability of each of these products.
This allows us to then work with you and your business on adjusting pricing strategies, removing unprofitable products from the market, adjusting the strategies for sales teams to focus on products that bring in the most money for the company, and, in some cases, identifying any products that maybe “gateway drugs” for other, more profitable products and services.
Pricing Analysis & Strategy Development
Do you know if you are charging the right amount for your products? We do a thorough analysis looking at market trends, competitor performance, and the value to the customer. Strategic pricing is just not about the cost of goods, but more often than not, additional sales (and profits) can be found by increasing prices to reach the target customers and convey the true value of your product. It is impossible to guess your perfect price without data. Let us help you!
Process Mapping & Operational Efficiency
By documenting the operations of your business, you can quickly find inefficiencies, workarounds, and opportunities for improvement. Not only does this help with employee satisfaction, compliance and retention, but efficiency can have the biggest impact on the cost of operations.
In addition, as you grow and scale, by having processes documented, you have a blueprint of best practices for your business to follow without having variations based on location, staff, and date-of-hire. Investing in this side of your business will have a huge ROI on your bottom line.
Comparison Modeling, & Forecasting
What if we moved production to Mexico from China? What if we hired more employees rather than using as many consultants? What kind of equipment should we invest in next? What if we brought production of one of our widgets in-house and vertically integrated? Would we be increasing profit? Or losing money? When would we begin to see an ROI?
These are the types of questions we solve for our clients every day using data. An investment in exploring these ventures before embarking on them can save millions of dollars spent on guesswork and failure.
KPI Discovery & Reporting
KPIs, or Key Performance Indicators, are the metrics that give insights into the health of your business. Every company should know which data are the most important to track and improve upon to reach goals such as increased profitability, driving revenue & increasing efficiency.
We figure out what your KPIs and set you up to improve them by trending and tracking them with beautiful, easy-to-understand visualizations. When you have the right KPIs, it illuminates the path of achieving your goals, whether it be increased sales, better efficiencies, a streamlined marketing funnel, or increased overall profitability.