Shopify is great. It solves the issue, it’s an amazing SaaS product. And during all this pandemic more and more people are moving online using Shopify.
Now, most merchants rely on Google Analytics to track sales and revenues and track which channel generates how much revenues. GA is also an amazing product, solves major issues of UTM tracking of revenues. Does a decently reliable job of tracking revenues through UTMs.
What I mean by that is this:
- Order Updates
- Cost of Goods Sold
Google Analytics Track:
- Channel wise revenues
- Date breakdown of revenue
- Conversion rates
- Bounce rates
What doesn’t happen is the combination of these two data sets.
What I mean by that is imagine you want to tag each order with the correct UTM parameter. So that not only you can drill down which orders came from which channel, which source, and which campaign but also drill down to SKU level where you can find out what Channel like Fb paid, google CPC, etc is selling which product, which SKU.
There are many more scenarios like that.
Imagine you want to build a Gross Margin or Net Profit reports.
This is where Audiencefy Fits in
Audiencefy combines Google Analytics data with Shopify data and creates a Comprehensive Performance table, that tells you, Gross Margins, Gross Profit, Net margins, and Net profit.
Now Add to that FB ad spends, and Google Ad spends and Merchants start to get a complete picture.
Audiencefy does this automatically.
By connecting your Shopify Store, and Your GA account, and FB and Google Ads spend, you can easily calculate these metrics channel-wise.
Which means you can calculate Net Profits on each channel, and Each product.
Sometimes we think the more we sell the more we make money. However, that’s not true. Looking at how much are we spending on which product, and which Sale is the most important thing. And that includes COGS(Cost of Goods Sold).
Take a scenario of a Dress at 9.99$ COGS.
The merchant sells it for 15.99$
That’s Gross margins of 6.00$/dress.
Another Product sells for 12$ and COGS of 6$ so Gross Margin is at 6$
Logically the more you sell Dress 2 you make more money.
But when we combine that with Ad spends, we find out that the merchant is acquiring shoppers for dress 2 at 4$ /sale.
Whereas dress 1 sells from Insta organic posts and is costing nothing in Spends.
Until the merchants combine Shopify+ Google Analytics+ ad spends. They will not get a clear picture.
It is not easy to do this on Google Sheets or Excel sheets.
All this data can be combined with Audiencefy and is accessible and reports are generated inside the dashboard itself.
Now imagine all this data at your disposal, and you can easily get a complete picture of your business.
Fine-tune your marketing campaigns.
Fine-tune your sales strategy
Fine-tune your PRICING strategy.
You can even look at SKU level data, and find out exactly what how you need to manage inventory.
That’s why we built Audiencefy.
Simplify your Performance data in a single dashboard.