How To

Setting Performance Goals

The Digital Marketing Dashboard can give you a quick view into how well you are trending towards ROI and budget goals. Prerequisites for this are that you define these goals within ChannelAdvisor and, depending on your chosen goal, that you provide product cost data for your SKUs.

Note that this feature is completely optional and has no impact on your bidding activities or Digital Marketing campaigns.

 

Set up Goals and Budgets


  1. In ChannelAdvisor, navigate to Digital Marketing > Account Settings > Provider Accounts .
  2. In the Goals section, click Set your goals for your Paid Search campaigns.

  3. Define your goals based on the following calculations:
    • Effective Revenue Share (ERS) is a measure of profitability that indicates the amount of money being spent on search or shopping engines as a percentage of revenue.
      E.R.S. = Marketing Cost/Revenue
    • Total Revenue Share (TRS) represents the percentage of direct cost associated with revenue. Direct cost consists of both Product Cost and Marketing Cost. It is a ratio of costs required to fulfill an order. The remainder is considered gross margin. In order to use TRS accurately, you must be sending accurate product cost data to ChannelAdvisor.
    • Cost Per Order (CPO) – You can bid based on CPO so you may want to measure goals based on this metric.
  4. Enter your monthly monetary budget goals. The entries are not required to be equal nor is it required that they all be populated. Months are based on calendar months.
  5. Save .

To see how you're trending toward the set goals at any point, navigate to Digital Marketing > Dashboards > Digital Marketing Dashboard. You will see bar graphs indicating your current actual versus goal for the goals you have input.

 

Set up and use Product Cost Data


If you want to base your goals on the Total Revenue Share (TRS) you need to provide product cost data in your ChannelAdvisor inventory. The following steps explain the details:

  1. Send us product cost data at the SKU level. You can either use the inventory field Seller Cost (recommended) or a custom Attribute to store this data.
  2. Map the ProductCost in Reference Field Mappings ( Digital Marketing > Account Settings > Reference Field Mappings ) with the inventory field that stores your product cost data, defined in step 1. Note this cost is NOT sent to any engine and only used by ChannelAdvisor.

  3. Contact Support to enable Margin Based Bidding in order to view and begin reporting Product Cost, NetMargin and TRS columns in Actionable Reporting.

  4. If a product is uploaded into inventory without a product cost value, a default product cost % may be used as an alternative.

The Digital Marketing Dashboard can give you a quick view into how well you are trending towards ROI and budget goals. Prerequisites for this are that you define these goals within ChannelAdvisor and, depending on your chosen goal, that you provide product cost data for your SKUs.

Note that this feature is completely optional and has no impact on your bidding activities or Digital Marketing campaigns.

 

Set up Goals and Budgets


  1. In ChannelAdvisor, navigate to Digital Marketing > Account Settings > Provider Accounts .
  2. In the Goals section, click Set your goals for your Paid Search campaigns.

  3. Define your goals based on the following calculations:
    • Effective Revenue Share (ERS) is a measure of profitability that indicates the amount of money being spent on search or shopping engines as a percentage of revenue.
      E.R.S. = Marketing Cost/Revenue
    • Total Revenue Share (TRS) represents the percentage of direct cost associated with revenue. Direct cost consists of both Product Cost and Marketing Cost. It is a ratio of costs required to fulfill an order. The remainder is considered gross margin. In order to use TRS accurately, you must be sending accurate product cost data to ChannelAdvisor.
    • Cost Per Order (CPO) – You can bid based on CPO so you may want to measure goals based on this metric.
  4. Enter your monthly monetary budget goals. The entries are not required to be equal nor is it required that they all be populated. Months are based on calendar months.
  5. Save .

To see how you're trending toward the set goals at any point, navigate to Digital Marketing > Dashboards > Digital Marketing Dashboard. You will see bar graphs indicating your current actual versus goal for the goals you have input.

 

Set up and use Product Cost Data


If you want to base your goals on the Total Revenue Share (TRS) you need to provide product cost data in your ChannelAdvisor inventory. The following steps explain the details:

  1. Send us product cost data at the SKU level. You can either use the inventory field Seller Cost (recommended) or a custom Attribute to store this data.
  2. Map the ProductCost in Reference Field Mappings ( Digital Marketing > Account Settings > Reference Field Mappings ) with the inventory field that stores your product cost data, defined in step 1. Note this cost is NOT sent to any engine and only used by ChannelAdvisor.

  3. Contact Support to enable Margin Based Bidding in order to view and begin reporting Product Cost, NetMargin and TRS columns in Actionable Reporting.

  4. If a product is uploaded into inventory without a product cost value, a default product cost % may be used as an alternative.
0
Your rating: None Average: 3 (1 vote)
0
Your rating: None Average: 3 (1 vote)