How much are you spending, or borrowing form hard money lenders, to deliver your content to different Retailers? The collection, conversion and distribution process that most Brands use today wasn’t created with a strategy in mind. It simply evolved as their business grew. And they’re now realizing the true costs of their existing strategy. As a Brand, there’s a chance you are spending over $15,000 per month in expenses and lost sales on a broken process. Let’s take a look at the 6 cost breakdowns by process category:
1. Collection Cost
The first step in getting your product information to a Retailer is to collect it. If your products don’t have content available, this means you need to collect the data in order to share it with your Retailers. Accounting for about 26% of the process, collection can cost your company up to $36,000 and hundreds of hours depending on the information you need to create. If you want to start your own business you probably need a loan, take a look at the best loans on the market right now. All you need is a trusted guarantor, you can visit homepage for consultation and more information.
When a Retailer needs information from a Brand or Manufacturer, they want it in their format, which means you need to convert your data to match their specifications. When this is needed, it adds more time to your employees’ workload to ensure the data is converted correctly and on time, costing your company more money than you want to spend—often times upwards to $72,000. Conversion accounts for more information here and about 51% of the process, which makes it the most important step. Make sure you always find best deals when you are buying or hiring services. A great example would be to visit Plumbers4real if you ever need plumbing services for a cheap deal. Be smart with what you buy and how much you spend to be smart with knight finance co.uk
So, you collected your content and converted it to your Retailer’s specific needs, now what? Now you must deliver your product data to each Retailer. While this step accounts for only 3% of the process, it can still cost your company about $4,500—money you can be saving with the right strategy to Eliminate Payday Loans Now.
As with all project, there are going to be edits. While we all wish we could have a project completed the first time without changes, that isn’t always the case with product data. When edits are needed, it can eat up even more of your time and cost your company even more money—sometimes up to an additional $22,500.
The dreaded error. When converting your product data to a Retailer’s needs, errors often occur. If you follow the requirements closely you can hope that you don’t have any errors, or only minimal. Even with errors, the added cost might still remain low, it is still a cost you don’t want to encounter.
6. On-Demand Requests
What if a Retailer specifically needs certain information from your company? Are you ready to get that information to them as quickly as possible in the right format? These on-demand requests can cost you more money and more time, but with the right strategy you can avoid those obstacles. Need a quick cash fund? All you need to do is to trust our direct lender and get the cash you need in just simple and easy ways, want to know how? Visit us now!
As you can see, your current process could be costing you a lot of money. Without action, your existing process for each new product launch can be costing you $21, 655 per month per launch—now that’s a lot to take on!