While top line metrics such as conversion and revenue are possible for us to track "out of the box", additional cost data is required to layer in profit impacts. Follow these steps to enable profit views.
In this article:
- Step 1: Determine what cost structure best aligns with your store or business model.
- Step 2: Download the COGS template from the Intelligems App.
- Step 3: Using a spreadsheet editing tool, populate the 'cogs' column.
- Step 4: Save your file and send it to Intelligems support.
- Step 5: Analyze profit results in the Intelligems App.
Step 1: Determine what cost structure best aligns with your store or business model.
We have two options for how we incorporate the cost of shipping and fulfillment:
- Option 1: Include the cost of shipping and fulfillment in COGS for each product variant. For example, Product A has COGS of $5, including shipping and fulfillment.
- Option 2: Exclude the cost of shipping and fulfillment from product cost and, instead, factor it in at the order level. For example, Product A has COGS of $3, Product B has COGS of $4 and each order costs $10 to ship and fulfill. If this reflects the way your store accounts for COGS, please include the shipping and fulfillment cost per order in the body of the email you send to Intelligems with your COGS data.
✨ Incorporating other cost models will require custom analyses outside of the Intelligems analytics product. Such analyses may be possible using our data exports - please reach out to support@intelligems.io if you have questions around this.
Step 2: Download the COGS template from the Intelligems App.
You can find this in the Data Exports section in the Settings tab. When you click 'Download COGS Data', we will send you an email with the download.
✨ The download automatically populates any COGS data you have in Shopify. You can edit this if you'd like to use other data for analyzing your Intelligems tests.
Step 3: Using a spreadsheet editing tool, populate the 'cogs' column.
Input COGS information into the 'cogs' column for each product and variant. A few notes as you do this:
✨ We recommend including COGS for all products on your store, even if they're not part of the test. Providing COGS for only some products may result in overstated profit for the products with missing COGS information.
❗Before saving your file, convert the product_id and variant_id from scientific notation to unformatted number notation. Many spreadsheet editors default to scientific notation, but an upload will fail if IDs are not converted.
If you keep COGS data in a separate spreadsheet, we recommend copying that spreadsheet into the downlod from Intelligems. There are several fields (product_id, variant_id, sku, etc.) that you can use to pull in existing COGS data. The example below shows how you could use an Excel formula to add COGS data from a source that has contains COGS by SKU. In this example, column B of the 'COGS Data Source' tab (not pictured) contains SKUs and column C contains COGS corresponding to those SKUs. In this case, the COGS for SKU-38 is $5.
The formula in cell M39 above is:
=INDEX('COGS Source Data'!$C:$C,MATCH(E39,'COGS Source Data'!$B:$B,0))
Step 4: Save your file and send it to Intelligems support.
Once you have added all data and converted the product_id and variant_id columns, save your file. See below for a list of best practices to keep in mind saving and sending your COGS files:- A file saved with a .csv extension will convert any numbers in scientific notation to rounded numbers and cause information to be lost. Be sure to convert all numbers from scientific notation to unformatted numbers (i.e. 12345678890) before saving a document as a CSV.
- A file with multiple tabs cannot be saved as a CSV. If you added a second tab to your file, consider saving the file in another format that allows for multiple tabs, like .xlsx.
Email your spreadsheet as an attachment to support@intelligems.io with the subject 'COGS Upload - [YOUR STORE NAME]'. Where relevant, include in the body of the email the additional cost per order for shipping and fulfillment. Please allow up to three business days for the upload of this information to be completed.
Step 5: Analyze profit results in the Intelligems app
Once the data has been uploaded, you will see a 'Profit' tab under the Analytics menu for your experiments and you'll be able to track the experiment's impact on profit per site visitor and profit per order. See more here for the analytics included under the Profit tab.
