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Tired of manually calculating for your product's ROI to determine its profitability? Then this post is exactly for you!
There aren't too many people who are aware of this fact, but tracking your product's ROI is extremely important in the determination of its profitability and your ads' overall performance and visibility in Facebook. In fact, I was one of those who didn't give much attention to this little integer. I was already so happy with seeing sales coming in through Facebook and ClickFunnels that I didn't actually stop and try to analyze what I am doing right and what I could possibly do to improve my then-current statistics and data. If I had known this long ago, I probably would have earned more than what I expect my products to give me!
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So, in this post, I want to show you guys what I have missed during my early years in the dropshipping business, and that is how I could have tracked my ROI through ClickFunnels and Facebook Ads. But first, if you're unfamiliar with ClickFunnels, I want to enlighten you a bit and show you why it is an important aspect for the determination of your ROI.
What is ClickFunnels?
ClickFunnels is basically a sales building software that allows you to add in a few of your products right after a customer purchases your front end offer. This can better be explained through example:
Let's say you are a dropshipping store that is centered on art and art materials. Your winning product is a full set of paintbrushes, and this is what you are mainly advertising in Facebook. Once a customer clicks through one of your ads, they will be redirected to your product page. When they decide that they want a piece of it for themselves, they will then proceed to the checkout page, but right before order confirmation, a popup will appear in front of their screens, offering them a few products related to their purchase -- paint, frames, some other brushes, anything goes!
Now, when the customer adds those products to their cart, you then have the option to show more popups (this is what you can upsells, and you can actually add as many as possible!) until they get actually get tired of it and decline your offers... but of course, that doesn't end there!
You can still offer them your down sells, wherein you offer a product that is still related to their purchase at a much lower cost in an attempt to have them make one final purchase before placing their order.
So you see, with ClickFunnels, a purchase from a single customer can be made of more than one product. What exactly does this mean? You are putting your money on ads just for that front end offer, but with ClickFunnels set up within your store, you can sell multiple products within a single purchase!
Now, let us discuss how you can track those purchases via the root source of it all -- Facebook Ads.
Tracking Your ROI via Facebook Ads Columns
So, in my personal opinion, the following Facebook Ads columns are the most important ones in terms of determining your product's ROI and your ads' effectivity and visibility. You can choose to apply these columns to your own ad account to track your sales and ROI better:
- Website Purchases; and
- Unique Purchases.
Down at the Website Purchases column, you can see how many of each of your products have been bought off of your website. This seems like a convenient place to see your product's stats and performance... except that the data here is usually inaccurate in terms of how many individual customers are actually purchasing it. It might be that a single customer bought this product a number of times, or there could be a multitude of different customers that lined up and made a purchase.
This is where the actual magic happens. With this column, you can have a clearer idea on your customers' behavior around your website through your sales funnel. The data under this column goes to my CommerceHQ store -- and if you're unfamiliar with CommerceHQ, basically it is an alternative to Shopify, wherein you can get loads of different eCommerce tools and solutions at a much lower cost. You can sign up for it by clicking this link and get a limited time offer of the ability to create 3 stores for the price of 1 -- at $99!
Going back, as you can see above, I had 4 unique purchases for a specific ad set and 3 of those are unique (which means that there were actually 3 people who made a purchase, and one of them bought an up sell). CommerceHQ doesn't have this unique feature that determines unique purchases, but they do have something that I really like, and it's probably one of the reasons why I stick to it and made the switch early on before everybody else.
CommerceHQ's Unique Up Sell Feature
Go to the CommerceHQ dashboard and select Store Setup > Up Sell Campaigns > Create Campaign > Storewide discount with timer. We can actually do this campaign and target various countries and apply for all of our products.
So let's go through what the heck do all of these mean. When somebody buys from CommerceHQ, you can set an up sell that happens for a certain time. And the best part about this is that if they do agree to purchase an up sell, you can even offer them a limited time discount if they add more products within a set time period. So upon checkout, a popup will appear, urging your customer to make one more purchase before order confirmation in an attempt to get you more sales and therefore more profit.
Let's Wrap It Up!
Today we have just discussed some of the most useful Facebook Ads column to track down your ROI. These are important for you to monitor such that you know which areas of your ads or product do you need to improve upon and actually help you build your up sells and down sells better.
Here we also featured some of the softwares that I actually use in my own dropshipping stores. I highly recommend that you sign up for them and try them out for yourselves; who knows? Maybe you'll even hit my goal of $2 million in sales within a few years!
If you have any more questions about how to track your ROIs using Facebook Ads, ClickFunnels and CommerceHQ, 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!