Watch the video, or read the Blog Post below.
Is your online store based on WordPress? Great! Are you using WooCommerce in handling all of your transactions? Perfect; this post is DEFINITELY for you (if you are not, however, I highly recommend that you start utilizing it right now. It is absolutely free of charge and a great choice for an eCommerce platform)!
If you are in need of a better way to track your sales and therefore make better calculations for your ROAS and everything else in between, then you're in luck; WooCommerce has just solved this problem for you.
Get instant access to a list of over 1000 winning products
With ready-to-go videos you can use in your facebook ads + more!
Today, we will be talking about a just-released extension of WooCommerce that can help you accurately track your Facebook Pixel data. Even if you are not using WordPress, it is just going to be worth watching this video for you to get a better understanding of a different way to track your Facebook data.
Using PixelYourSite in Solving a Dropshipping Problem
One of dropshipping's biggest problems is that one must work with different units of ROAS. Let's look at a certain example:
In the field of dropshipping, you should know that we are not going to be working on one product alone, and that is how we are going to end up with a whole bunch of ROAS that we would need to be optimizing for. Here (and these are just examples), we are going to work with 3 different margins and 3 different ROAS.
This can become an issue especially if you are setting up automated rules for your whole website -- you might set up a rule that products that go above and beyond 1.7 ROAS are automatically not profitable; your system will turn those ads off, but we all know that that will not be the case for products that can afford a lower ROAS, because you could push out more volume in terms of your ad budget, get more sales, and build an email list and have your sales proceed from there.
So, looking at the examples above, it doesn't really make sense for us to optimize our ads based on a 1.5 break even ROAS when we have different products at different margins.
Fortunately for us, WooCommerce released an extension that aims to solve this very problem.
We won't be going into detail, but here I put myself in my customer's shoes and tried to purchase something out of my store. As you can see on the Facebook Pixel Helper, the values of "Total" and "Value" are equivalent to the actual total of that particular sale, which was $23 ($8 cost of goods, $10 profit and $5 shipping fee). When a real customer wishes to purchase the product, in our ad account, it is going to say, ideally, we spent $10, and the customer gave us $23 back in the conversion value.
Once you install PixelYourSite onto your WooCommerce account, you will be able to see it on your WordPress dashboard, which is what we have over here. Under the PixelYourSite dashboard, scroll down a little bit until you find what is on my screen above -- tick on the "Fire the event on transaction only", and what this is going to do is it will send back for the purchase conversion value the price of the product minus the cost of goods price.
Remember that in WordPress and WooCommerce, we can easily set up our cost of goods and regular and sale prices, so this won't be too much of a hassle once you start implementing it on your own store.
I redid the purchase simulation with these settings on; here is what happened:
Looking at the Facebook Pixel Helper, you can see that the "Value" registered for the same particular sale was only $10 -- the system detected the $8 cost of goods and the $5 shipping fee and subtracted that from the total sale, to give us only the value for the profit.
Now, most of us are offering free shipping anyway, and again, you can easily set that up in WooCommerce, and PixelYourSite will automatically detect those changes and adjust the values accordingly.
Now, how does this affect our ROAS calculations? In theory, if we are getting above 1x ROAS, we are profitable, so you would only be optimizing your ads based on a 1x ROAS or higher inside your Facebook ads account, and that would actually be appropriate to managing your whole ad account, because you're only sending the profit per sale back. And again, you can put in your cost of goods for each specific product.
Again, PixelYourSite is going to send back what the customers have actually paid us unless you establish and implement this system of omitting the cost of goods from the total value of your sale.
Let's Wrap It Up!
PixelYourSite is truly a nifty tool that you can use to help improve the accuracy of your ROAS calculations! With it, you can have a better overview of how much you are actually making as compared to Facebook Pixel simply sending you information that are not fully detailed.
Just a disclaimer, though: I have only tried this extension in WooCommerce. If you are utilizing Shopify or any other eCommerce platform for your business, let me know if it works for you, if you have personally tried it and what results you are given. Here at WagePirate, we like to try and test out different things to see which ones work and which ones you should avoid. I have personally implemented PixelYourSite for all of my businesses, and let me be the first to say that it has definitely never let me down even once. And now, it is your time to benefit from it and start winning more in the field of dropshipping and eCommerce!
If you have any more questions about PixelYourSite and all the wonderful things it can do for your business, creating the most profitable dropshipping stores, dropshipping in Australia or anything regarding this video, feel free to personally contact me via the Contact Form HERE. You can also leave your comments and feedback below, and our team over at WagePirate will definitely get back to you with a response. For more reviews, news and updates, do not forget to subscribe to my YouTube channel!