Why you should be adding Cost of Shipping to your reports
Whether you are starting a business or you are already established, it is important to know where all the money in your business is going. On the WordPress platform, WooCommerce does an amazing job of giving you great reports that have a lot of features. One key place they are lacking is taking the physical products into consideration. They are missing the associated shipping cost and cost of goods for each of your orders. Often times, in a business, these costs eat up a large portion of your gross profit. So, when you're looking at your WooCommerce sales reports, you have a glaring hole in the state of your business!
That’s where we come in. Here at The Rite Sites, we have developed a set of plugins that lets you read in and associate the shipping cost that you paid for each order, the cost of goods for the items ordered, and additionally, reporting tools to help you analyze your profit margins with the most complete picture possible.
Competing in today's market
In this day and age, e-commerce stores are often competing with Amazon. As a result, many struggle with the expectation they have given the world (your customers) is that shipping will be low cost and very quick. If you have dealt with shipping much, you will probably know that there is nothing affordable about fast shipping. So, how do you as a business owner, working with WooCommerce, decide what you are going to charge your customers for shipping? Are you going to pass that charge of $17.35 to your customer? Or maybe if you can decide on a price increase for your whole store and offer either cheap flat rate? Or even free shipping? As a customer, which would you rather go for? Which has more eye catching marketability?
We understand that these are hard decisions, and finding that sweet spot of what your customers are willing to pay is definitely a very unique challenge to every company. We know from personal experience! So why would you want to go into the decision making process hamstrung? Let us bring you an easy, functional interface to help you make the smart business choices by using our WooCommerce Net Profit, and its accompanying FREE plugins, WooCommerce Cost of Shipping and Cost of Goods for WooCommerce. Through our plugins, make data driven decisions to find the best rates for your business to thrive! Start tracking your shipping cost, today!
Buy WooCommerce Net Profit and get Cost of Goods for WooCommerce for free!
Let your website start to do the heavy lifting
Now, it is true that there are other cost of good plugins that exist. We have made it a point to try to be as flexible as possible with our reports. Due to this, currently we have an integration component with the Cost of Goods plugin sold by WooCommerce, and are willing to work closely with you to integrate other solutions as well. Let us leverage the data you already have to help improve your business even more!