I couldn't wait to get to Tuesday because this tip will surely be one you'll love. This week, we're going to use guitars as an example. I'll show you how Stitch can help you be sure you are producing your products as efficiently as possible.
One thing we hear from customers when they join Stitch is that they wish they could automatically upload their products into the system. They remember the agonizing process of putting their products into either an Excel spreadsheet or into some accounting software like Quickbooks in the past and how painful putting each product into that system was. Well, have we got some great news for those people. Putting your products into Stitch is super easy and you don't have to remember every product you carry in order to do so. We've built Stitch in a way that is focused on the product options you carry and we put together a great video this past weekend to help explain this process. Take a few minutes to watch. It's worth it.
How does this have anything to do with reports you ask? Well, I'll show you with just one quick example about guitars. Many people in product businesses make the mistake of producing their products based on which products they "think" sell best. Stitch allows you to know which products sell best based on any of the options you put in for them.
Imagine you put your products into Stitch based on the option of color (like the guitar picture above). If that's how it makes sense for you to organize them, great! As you sell your products (guitars for this example), you'll see that not only are you able to understand which products sell best, but you'll be able to see which colors sell best across any of the products you've created. In the picture below, you can see that I've created three product families of guitars. By looking at the graphs Stitch creates for me, I can quickly see which product family sells best. In this case the Stratocaster is outselling the other two families of guitars. The graphs in Stitch make it easy to quickly identify trends.
But wait, there's so much more! When you click on the product family, Stitch magically drills down into the details of which colors sell best for that particular product family. That is where the real power of Stitch comes through.
You can easily see that the Stratocaster in the color black does much better than white in our example. And when I say much better, I have data that says it's nearly 5x better. It's not a hunch anymore. It's a fact, Jack!
So you may ask, how can this work for me? I don't sell guitars. That's cool. The products you do sell have some similar traits in common. For example, if you sell jewelry, you may set up your products by shape (circle, triangle, square), or material (gold, silver, rose gold). If you sell clothing, you might set your catalog up by with different sizes (small, medium, large). If you sell candles, you may have scents (apple, orange peel, lemon). Wow! What's with the fruit scents?
Anyway, setting up your products in Stitch based on the option types and options you carry will really help you when you are deciding which products to make. You'll be able to make informed decisions about production and won't waste precious time and resources on items that won't sell. We're all about efficiency here in the lab, and we want to help you sell more too.
This is just a small example of the reporting power of Stitch. We have so many more great reports that help you look at your business in creative ways and all the reports are able to be downloaded into a CSV or Excel File so you have all the necessary data when you need to go see your accountant.
That's it for this week, please let us know if you have any questions. We love questions!