Ways to reduce your stock on hand.
Many of our Fiitfu users run Vendor Events during the holiday months, and often can have stock left over. One thing to always remember, stock on hand could be money in your pocket if you sell the products off. So what is the best way to do this?
- First thing you want to do is make a list of all the inventory you have on hand (note Fiitfu can also track Stock if you would like to track this in your Fiitfu account). We recommend listing YOUR pricing of each product (what did you purchase it for, you may have had some bulk discount pricing) and beside your pricing what you would like to sell it for. Be sure you know what % discount this is from the suggested retail price.
- Now that you know all your products, go back to your client list and the first people you are going to contact about these products are those that have purchased these products in the past. These are the people you will be sending your discounted inventory email first!! If you have been using Fiitfu to track your orders, it is easy to find out who has ordered what products. Go to the Orders Tab, and in the Item column, add your item and click on the “Green Search” button. This will bring up everyone that has purchased the item you are looking for.
- Under Templates you are going to create an email that will list all of your inventory, the quantity you have on hand and the discounted $ amount for each product. Once this is done, send it to the list of people that have first ordered it from you, let them know you are giving them first chance to buy these products, and you will be sending the email out to your other VIP’s tomorrow.
- Once you send your email, create an event in your Fiitfu account so you can track who ordered what items. The following day, send the email again to your Past Hostess’s as well as other favorite customers. On the third day, you can send your email out to everyone on your email list.
- If products start selling fast, be sure to edit your email template so that your customers can see how fast they are selling. Send a second email to everyone 5 days later with anything remaining.
Tracking client orders is always good to do so you can communicate with them based on their past orders. You should track people that wanted to order items that you may have sold quickly (they responded back to late, the products had sold). Use this list later to email back and say, “Remember when I had that special and I ran out of the product you wanted? I have some more in stock and it is actually my hostess gift this month if you would like to host an event to earn it or I can give it to you at a small discounted rate”.
If you haven’t been using the Fiitfu Orders tab, here is a great video to show you how to use it. Orders on Fiitfu