With Product Analytics, now you can see the profitability insights of each product in your store: from revenue, net profit, profit margin to Facebook ad spend attributed to a particular product.
What can you learn from these insights?
- Which products are actually more profitable.
- Which products come with greater cost.
- Which products should be promoted more extensively.
- Which products are actually wasting money.
For example, item A seems to earn more revenue but also spends a lot on ads. Product Analytics can help you decide whether to keep scaling it up or focus on item B which has larger profit margin.
How to set up
If you've already set up COGS, you've come halfway.
Now you need to assign your products to their corresponding Facebook campaigns, in order to get the ad spend of individual products. Here's how:
- In Product Analytics, copy the product ID.
- Go to Facebook Ads manager, rename the corresponding campaigns so that they contain the ID, wrapped in square brackets: [YOUR_PRODUCT_ID]. For example:
Awesome Product Name - 
To handle multiple campaigns, use Name and Find & replace functions.
- Come back to TrueProfit app, go to Facebook in Cost settings. Under Manage Ads Accounts, click on Synchronize again.
Now check Product Analytics again. You should by now see the ad spend pulled in, as well as other number. Click on each product to reveal all metrics.