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WooCommerce & BeProfit Success Story - 28% Growth in Just 4 Months
Running multiple eCommerce businesses is not an easy gig, especially given the stiff competition in the marketplace. Online sellers must oversee many things, from lead generation to order management to reduce unnecessary costs. Seam Lim -CEO of Lens007 and LensGoGo – could entirely relate to this challenge. But not anymore! Seam Lim has launched 4 successful online stores since 2016, offering glasses, contact lenses, and Japanese goods. This year, Seam Lim partnered with BeProfit to capture all profit opportunities, track all expenses, and grow his business. After joining BeProfit in March, BeProfit established an ongoing relationship with Lim and customized unique features to meet his business needs. The Goal Overall business growth, from the number of orders to profit margins. The Challenge Lim needed a simplified and all-in-one solution to track and manage his profits and expenses. In the ever-evolving eCommerce industry and in his business niches, Lim had to make data-driven decisions to stay competitive and profitable. So, he started looking for tools that could help him achieve better control of key metrics of his business. That's when he stumbled upon the BeProfit profit tracker app. The Solution BeProfit - Profit & Expense Tracking App The Results 21,000 monthly orders $12 Million annual GMV $1.4 Million annual gross profits 28% Growth from April to July Lim’s Favorite BeProfit features: Real-time tracking With this app, Lim can track his business data anywhere, anytime, on any desktop or mobile device. He can even collaborate with his staff in a shared workspace in real time. Perfect Automation No manual work! So, it saves Lim and his team a lot of time. Now, they can set their profit calculation preferences, create custom data reports, and build shipping profits, all in one place. Calculation of all shipping costs As he runs a number of stores, Lim can have his shipping, fees and other expenses pulled automatically from his online platforms. It allows Lim to get detailed, up-to-date reports on all shipping costs. Here’s what Lim has to say about BeProfit: “BeProfit has changed the way I calculate my COGS, shipping, and other expenses as it allows for perfect automation. Not losing money is as important as making money, and thanks to BeProfit, I am now able to track my net profit accurately. Additionally, they’ve been super helpful and customized features to suit my needs.”
Is Dropshipping Still Profitable in 2022 or Will You Lose Money?
Dropshipping has emerged as one of the most popular business models for e-commerce store owners in the digital age. With a dropshipping strategy, business leaders list products from manufacturing partners on their websites. Whenever an order is placed, it’s automatically transferred to the dropshipping vendor, who deals with fulfilling the order. Dropshipping allows entrepreneurs to enter the e-commerce landscape without the common expenses and challenges associated with holding and shipping inventory. However, while dropshipping is great for improving the e-commerce order fulfillment process, it has its challenges too. As dropshipping apps and tools become more popular in 2022, it’s worth asking whether this model is still a profitable strategy for your business. Read on to find the answer to this and the challenges faced by potential dropshippers in 2022. The Challenges Faced by Dropshippers in 2022 Disrupted Supply Chains One of the most significant issues this year has been the disruption in supply chains and logistics around the world. A disruption in the dropshipping supply chain could leave customers waiting weeks or months for an order, which damages a brand’s reputation. Rising Customer Expectations Post-pandemic customers are less likely to settle for slow delivery times and unpredictable product quality. This means companies in the dropshipping industry need to work harder to find suppliers who can deliver products fast and provide consistently great items. Rising Competition Another major issue dropshippers have faced in 2022 is the struggle to differentiate themselves from other merchants. With various forms of Shopify, Wix, and Amazon dropshipping for beginners now available, the barrier to entry for this mode of selling is lower than ever. This means competition is rising, making it much harder for companies to find unique products to set themselves apart from the crowd. Additionally, you'll also have to compete with different shipping costs, product qualities, and e-commerce ads. Profitability of Dropshipping in 2022 Though dropshipping professionals have seen a number of challenges during 2022, this doesn’t mean the potential of the market has diminished. According to some studies, the dropshipping market is set to reach a value of over $621 million by 2028, growing at a rate of 20.7% CAGR. Since the pandemic, more customers have begun shopping almost exclusively online. By the end of 2022, e-commerce is set to account for around 20.4% of all global sales. Even as the impact of the pandemic damages the logistics and supply chain landscape, the opportunity for e-commerce sellers is growing astronomically. This means dropshipping professionals have plenty of chances to profit. Can Dropshippers Cope With the Challenges? Indeed, dropshipping companies may even be more suited to withstanding the complications of the problematic logistics environment than most. After all, with the best Shopify dropshipping apps and similar tools, business leaders can quickly and easily find new suppliers if their chosen vendor isn’t able to deliver the products they need. Interest in dropshipping is growing too. The number of people searching the word “dropshipping” has increased exponentially over the last couple of years. Plus, virtually every e-commerce site-building tool now comes with integrations and apps to make dropshipping easier. Despite the challenges, dropshipping companies aren’t just surviving in 2022; they’re thriving. Today, dropshipping and e-commerce sales are accelerating towards a value of $5.49 trillion, and they’re growing at a consistent rate of around 10.98% per year. Evolution of Dropshipping Best Practices Though it’s clear that dropshipping still has significant potential in 2022, companies do need to make sure they’re approaching this landscape carefully. The challenges of the evolving e-commerce environment have led to the adoption of new best practices, such as: Leveraging the right dropshipping tools Companies are investing extra time and effort into ensuring they have the right tools in place for dropshipping. This could include comparing Wix vs Shopify for dropshipping or exploring different apps in each e-commerce ecosystem to ensure you’re getting access to the right suppliers. Putting the customer first As customer expectations continue to rise, companies in the dropshipping environment need to make sure they’re prioritizing “CX”. This means implementing new strategies to deliver products faster and making sure the right policies are in place to respond to queries at scale.Increasing vendor relationships In an unpredictable logistics environment, it’s often a good idea to have multiple relationships with different vendors. Drosphippers are beginning to form connections with a wider selection of suppliers, so they can rest assured they’ll always have access to the inventory they need.Leveraging analytics To differentiate and stay one step ahead of the competition in the dropshipping world, companies need to keep a close eye on business insights. Brands are now using more tools to keep track of their most popular products and boost customer experiences.Brand marketing There are many different ways to market your brand, from advertising on Snapchat and Facebook, to using influencer marketing, and much more. Dropshipping Isn’t Dead Although dropshippers, like all e-commerce business leaders, have experienced some challenges in recent years, there’s still exceptional potential for growth in this environment. Companies capable of leveraging the dropshipping environment correctly can still make a fantastic profit in the years to come.
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Dropshipping on Amazon for Beginners—All You Need to Know
Amazon dropshipping is a business model which involves e-commerce entrepreneurs selling products without having to carry any inventory, but instead using the services of Amazon for fulfillment. Let’s disclaim the above statement by stating that “Amazon dropshipping” isn’t, by definition, technically dropshipping. Yes, some Amazon merchants use the platform’s fulfillment services to fulfill customer orders. However, unlike the traditional dropshipping model where suppliers do not charge a fee for fulfillment (the cost is added to the price of the wholesale product), Amazon merchants that use the platform to deliver have to pay Amazon for customer order fulfillment. How Does Amazon Dropshipping Work? Just like the traditional dropshipping model, when a store owner receives an order from a customer, they simply contact the supplier (Amazon), who then ships the products directly to the customer’s door. The difference between Amazon and traditional dropshipping? Amazon dropshipping involves signing up for Fulfillment by Amazon (FBA) program and using these services to fulfill customer orders. FBA is a service offered by Amazon that allows sellers to store their products in Amazon's fulfillment centers, and Amazon will pick, pack, ship, and provide customer service for these products. Sellers who use FBA can set their own shipping rates, track their inventory, and access Amazon's customer service. You can think of FBA as a just-in-time (JIT) supply model. A JIT supply model is a system in which suppliers produce just enough inventory to meet current customer demand. This system relies on frequent and accurate forecasts of customer demand in order to ensure that the correct amount of inventory is produced. It also relies on quick and efficient distribution channels so that the right products are delivered to the right customers at the right time. Cost of Dropshipping on Amazon The cost of dropshipping on Amazon varies depending on the scale and breadth of your business operations. Essentially, there are two payment plans that Amazon charges merchants for their FBA services. The first is a flat fee of $0.99/item sold + additional shipping fees. This is used for merchants that are selling 40 items or fewer per month. The second costs $39.99/month + additional shipping fees. The additional shipping fees vary depending on the weight, size, and destination of a package. For a full breakdown of these fees, see Amazon’s FBA fulfillment fee guide. So is using FBA affordable? Again, that depends on the circumstance. For instance, if an online business is renting a third-party warehouse in an expensive area, shipping costs are high, and inventory management fees are added on top; thus, the cost (and hassle-free services) of FBA starts to look rather attractive. Although, if an online business is relatively small, localized, or a merchant is happy to take on fulfillment with flat-rate shipping to save costs, FBA services can start to seem a little less attractive. To really hone in on the costs of operations compared to profit margins, see our guide on the best profit calculators for Amazon. Additionally, this is only one way of selling products on Amazon. Read our guide on Amazon FBA vs FBM to learn more. Pros and Cons of Dropshipping on Amazon We’ve touched on the downside of fees and the upside of convenience, but there are other pros and cons that online merchants should take into consideration when choosing whether to use Amazon as a dropshipping option. Pros Increased sales and visibility One of the biggest benefits of using FBA is the increase in sales and visibility you'll enjoy. When customers search for products on Amazon, they are more likely to find your items if they are sold through FBA than if they are sold through a third-party seller.Prime members love FBA Prime members love buying products that are sold through FBA because it means that they can get free two-day shipping on those items.Increased customer satisfaction Since Amazon is known for its excellent customer service, using its fulfillment services can help increase customer satisfaction rates for your products. Cons Some products are competitive One downside of using FBA is that your products may be less visible to shoppers on Amazon since they are competing with larger brands that are well established in the marketplace.Business operations are dictated by Amazon Another downside is that Amazon has a lot of rules and regulations that sellers must follow. If you don’t comply, your account could be shut down. To bypass the competition, learn how to promote your Amazon products on the marketplace successfully. Something else that might interest you: our guide on Shopify vs Amazon to help you decide whether this is the right platform for you.
Amazon FBM vs. FBA: Which Is Better for Your E-Commerce Business?
No matter what type of e-commerce business you run, there’s potentially no better way to reach an endless amount of potential customers than with Amazon. Amazon is the most visited e-commerce website in the world, and it's no secret that shoppers prefer to buy items there. In fact, nearly half of all online shoppers start their product searches on the platform. But should you be using Amazon FBM or FBA for your business? Read on to find the answer. How Fulfillment by Merchant Works When customers order items from Amazon.com, they have the option to choose "Fulfillment by Merchant" (FBM) as their shipping method. FBM orders are fulfilled by the seller of the product, rather than Amazon. This option is available for products that are sold by third-party merchants on Amazon. The biggest benefit of choosing FBM is that the seller is able to control the entire fulfillment process, from packing and shipping, to the method of calculating shipping costs, to customer service. Sellers also have the ability to customize their shipping and handling options and can choose to include a note or gift message with each order. Since sellers are responsible for fulfilling FBM orders, they must maintain an inventory of products and be prepared to ship orders within one business day. Sellers also need to be familiar with Amazon's policies and procedures for fulfilling orders, including shipping requirements and restrictions. How Fulfillment by Amazon Works If you are an Amazon merchant, you have the option to use "Fulfillment by Amazon" (FBA), which allows you to store your products in Amazon's fulfillment centers and let them handle shipping. Here is how FBA works: Either you or your suppliers send products to an Amazon fulfillment center.When a customer orders one of your products, Amazon ships it from the fulfillment center closest to the customer. Costs of Selling With Amazon FBA vs. FBM FBA The cost of selling through Amazon's FBA (Fulfillment by Amazon) service can be expensive for small businesses. For example, businesses are charged a monthly fee for storage space—$0.75 per cubic foot and up to $2.40 per cubic foot through the holiday months—and they are also charged a fee for each item that is shipped through the FBA program. In addition, businesses must pay Amazon's commission on each sale which can be as high as 15% of the sale price. Therefore, it is important for businesses to calculate these costs carefully before deciding whether or not to use the FBA program. Amazon also charges $39 per month to access their warehouses and order fulfillment services. FBM On the other hand, Amazon charges anywhere between $0 to $39 for merchants using their FMB services. The $39 is only applicable to those merchants that opt into Amazon’s Pro FBM service, which is completely optional. Of course, merchants that choose to use FMB will need to cover their own shipping, storage, and handling costs. But, depending on the size and scale of the operation, these are potentially more affordable than the FBA services that Amazon provides. Talking about costs, check out the best Amazon profit calculators here. Pros & Cons of Amazon FBM Pros When you use Amazon FBM, you can potentially take advantage of their lower costs. This can help keep your expenses down and improve your profit margins. More control over your customer’s orders and the ability to provide better customer service.By using Amazon FBM, businesses can take advantage of Amazon's world-class marketplace while controlling the logistical side of the business. Cons Using FBM requires managing your own inventory and shipping. This can be a lot of work, especially if you are not used to it, which is why many e-commerce sellers choose flat-rate shipping. You have to package and ship the items yourself, which takes time and effort. You need to have a good understanding of Amazon's requirements in order to make sure your products are compatible with their system. If you do not meet their requirements, your products may not be eligible for Prime shipping or may be removed from Amazon altogether. Interested in some further reading? Learn the difference between digital marketing and e-commerce here. Pros & Cons of Amazon FBA Pros Amazon FBA can help you take your business to new heights by making it easier for customers to find and buy your products.FBA can save you time and money on shipping.FBA can increase your sales because Prime members receive free two-day shipping on eligible items. Cons One of the biggest cons of Amazon FBA is the cost. When you send your products to Amazon, you have to pay for shipping and storage costs.You have to give up a lot of control. With FBA, you're handing over your products and your brand to Amazon. Amazon has been known to be less than stellar when it comes to customer service. If something goes wrong with one of your customer’s orders, or even if you just have a question, you may not get a response from them in a timely manner. If profits are on your mind, learn what profit margins are considered high here. Which Is Better: FBM or FBA? This depends on the size, scale, and budget of your online business. If you have the patience to package orders, ship them out, and handle customer service, FBM is the choice for you—so long as you ensure that you have an efficient and effective e-commerce order fulfillment process. However, if you’d like to use the convenience of not having to deal with shipping, handling, and dealing with customers, FBA is your number one choice. If you’re still not sure in which direction to head, maybe calculating costs will help. Do so by checking out how to calculate profit on Amazon FBA here. Alternatively, if you're still unsure about the platform you wish to use, take a look at our guide to Shopify vs. Amazon.
How to Improve Your E-Commerce Order Fulfillment Process
E-commerce order fulfillment is the process by which a customer's order is filled and delivered. This can include ordering and shipping merchandise, as well as handling returns and refunds. To ensure that orders are fulfilled quickly and efficiently, e-commerce businesses often use automated systems and warehouses. Improving your e-commerce order fulfillment process is essential to having a great business. Read on to learn how to achieve this. Steps in the E-Commerce Order Fulfillment Process The e-commerce order fulfillment process can seem complicated and daunting, but it doesn't have to be. Here are the steps you need to take to ensure a smooth and successful transaction: Receive the order from the customerCheck that the order is complete and correctProcess the paymentShip the order to the customer's addressConfirm that the order has been delivered successfully Improving Your Fulfillment Process For sure. In fact, there are many steps in the e-commerce order fulfillment process that can be improved: Package protection Often, e-commerce companies will just throw products into a box without any thought of protecting them. This can lead to products being damaged in transit, which can cause customer service issues.Update couriers Many e-commerce companies still rely on outdated shipping methods, such as FedEx and UPS. These companies often charge high rates and do not offer tracking information for packages., potentially leading to lost or delayed packages, which can cause customer service issues.Allow customers to track packages Many e-commerce companies do not provide customers with enough information about their orders. This can lead to customer service issues once clients have to contact you in order to access information that should be readily available. Another factor that you could improve about your e-commerce store is monitoring your ROAS. Learn what a good ROAS for e-commerce is here. Importance of Order Fulfillment for E-Commerce When it comes to e-commerce, order fulfillment is one of the most important aspects of a successful business. In order for customers to be satisfied with their purchase, they, of course, wish to receive their order timeously and in good condition. There are a few key things that you can do to ensure that your order fulfillment process is as smooth as possible. First, make sure that you have a good tracking system in place to ensure that you know exactly where each order is in the process so that you can resolve any issues that arrive as fast as possible. You should also have a solid plan for shipping orders. You need to make sure that you have enough stock on hand to meet the demand, and that you are shipping orders out as quickly as possible. If you can't ship an order within a 24-48 hours time period, it’s best practice to let the customer know when they make their order. Struggling to figure out what to charge for shipping? Read our post on calculating shipping costs for e-commerce and our guide to flat-rate shipping. Types of E-Commerce Order Fulfillment There are three types of e-commerce order fulfillment: In-house fulfillment This is when a company completes the order from its place of business, which may increase your profit margin as you don't have to pay for external warehousing or branding. Dropshipping This is when an e-commerce company sends customer orders to a supplier who then ships the product to the customer from the dropshipping company’s own warehouse. If this is your chosen business model, be sure to take a look at the best dropshipping apps.3PL Third-party logistics, or 3PL, is when a company uses a third party to complete an order. So, Which Fulfillment Technique Is Best? Well, each type of order fulfillment has its own benefits and drawbacks that may or may not suit an e-commerce business depending on factors like budget, location, or staff availability. To give you a rough idea, in-house fulfillment is best for companies that want control over the entire process, from ordering to shipping. Dropshipping is good for companies that want to outsource shipping and do not have the time or resources to handle it in-house. 3PL is best for companies that require help to fulfill large orders or need access to specialized shipping and handling equipment. How to Determine Your E-Commerce Order Fulfillment Strategy By taking the time to evaluate your options and make a decision that best suits your business, you can ensure that your customers receive the best possible experience. If possible, consider using a fulfillment center to help manage your shipping and order processing. They can take care of everything for you, from packing and shipping to customer service and returns. If you're just starting your Shopify store, then you should know that there are many dropshipping fulfillment centers available directly from the Shopify app store that can free up your time to focus on other aspects of your business. Want to learn more about e-commerce? Start with either this guide on the advantages and disadvantages of e-commerce or check out this post on the different types of e-commerce business models.
How to Calculate Shipping Costs for Your Shopify Store
Having to manage shipping is one of the disadvantages of e-commerce. Shipping costs can be a major deal breaker for customers in the e-commerce industry, but it's also as simple as this: a high shipping cost will push customers away, while a cheap and accurate shipping cost will attract customers. This post will discuss the factors affecting shipping costs and the best Shopify calculator apps that you can use. How USPS Calculates Shipping Costs Accuracy is essential when calculating your shipping costs; otherwise, undercharging the customer will cost you extra—and this is especially true if you plan on using a service like USPS to ship your products. The formula for calculating USPS shipping costs is as follows: Measure Measure the package, i.e., its length, width, and height. If the package is small you don’t have to measure.Weight Weigh your package using a scale. You can use a postal scale for better accuracy, but a kitchen or bathroom scale should suffice.Go to the USPS website Go to the USPS website and use the postage price calculator to compute the postal rate.Calculate Enter the destination details, dimensions, and weight of your package. You’ll then be given the available mailing options and transmit times. Oversized USPS Packages If you have an oversized package (between 108 and 130 inches in length or girth), USPS will charge you extra. Charges will be based on the weight of the item—the more the weight, the higher the cost. However, USPS does not ship items exceeding 130 inches or more than 70 pounds in weight. For that, you’ll have to choose a different shipping carrier like DHL or FedEx. Factors Affecting Shopify Shipping Costs Shipping costs differ for different stores even if they are using the same shipping method due to the following factors: Shipping insuranceDuties and tax if you offer international shippingParcel-based charges if the product weighs more than the standard dimensional weightShipping-related charges if you mistakenly input the wrong delivery address How to Determine the Best Shipping Costs for Your E-Commerce Business There are five ways that you can determine shipping costs for your business, each with its pros and cons. 1. Flat-Rate Shipping This is where you charge one fee for all shipping regardless of the weight, shape, and size of the package. It’s most preferred by businesses that offer similar products due to its simplicity and convenience. The recommended amount you should charge for flat rate shipping might vary depending on the size of products you generally sell, but it should vary between $7.00-$15.00. 2. Calculated Shipping For this, you’ll need the dimensions and weight of your products. When customers purchase from your store, shipping will be calculated based on those measurements and their location. However, if you have a variety of different products for your store, it might be tiring to measure them all to determine how much to charge each purchase. 3. Free Shipping If having a competitive advantage is what you're looking for, then free shipping will be the best method for your business—but you'll have to be clever; otherwise, you'll incur losses. You can offer free shipping in three ways: Include the shipping cost in the product price.Absorb all the shipping costs from your profits. It's a great deal for the customer but reduces your profit margin.Meet in the middle, where both the customer and seller share shipping costs. This is great for both parties since the customer gets a cheap product without affecting your profits too much. 4. Weight-Based Shipping You charge shipping based on the weight of the customer's orders and will have to know the exact weight of all your products. 5. Price-Based Shipping Here, you charge shipping based on the total cost of the orders. For example, for orders between $0-$15, shipping may be $7 while, for orders above $20, shipping might be $17. Best Apps for Calculating Shopify Shipping Costs Like Shopify sales funnel apps, Shopify also offers shipping calculator apps that make it easier for owners to calculate shipping costs and even provide discounts with certain shipping companies. The apps also offer additional features like sending alerts to customers during delivery times, collecting feedback, and generating labels. The best Shopify shipping rate calculators include the following, among others: OrderCupEasyshipShipping Rates Calculator PlusShipup Importance of Calculating Shipping Costs for Shopify Calculating shipping costs is as important as calculating any other costs for your business, such as the cost of goods sold and customer acquisition costs. If customers proceed to checkout and find an outrageous shipping cost, they will likely abandon their carts and run to a cheaper store. Knowing your shipping costs will also help you make better financial decisions and overall business efficiency. In summary, certain factors affect shipping costs and there are five ways to determine the right shipping costs for your Shopify store. Shopify shipping calculator apps and the best Shopify dropshipping apps simplify this while offering additional features, such as discounts.
What Is Flat-Rate Shipping and When Should You Use It?
Flat-rate shipping is a shipping option that allows customers to pay a fixed price for shipping, regardless of the weight or size of the package. This is a popular shipping option for online retailers as it eliminates the need to calculate shipping costs for each individual order. How Does Flat-Rate Shipping Work? Since flat-rate shipping doesn't change, it makes it easier for customers to know what they will be paying for shipping, often leading to savings on larger orders. Typically, the customer is charged one flat fee for shipping, determined by the retailer. This fee may be based on the weight of the order, the size of the package, or both. The retailer then pays a discounted rate to ship the items using a carrier like UPS or FedEx. There are some restrictions on flat-rate shipping. For example, not all items can be shipped using this method as they might be outside the allowed dimensions. Additionally, not all retailers offer flat-rate shipping. Thinking about launching an e-commerce store, but aren’t sure which platform to use? If so, check out our Wix vs. Shopify guide. Pros & Cons of Flat-Rate Shipping Flat-rate shipping has some pros and cons that should be taken into consideration. Pros Simplicity There are no hidden fees or surprises with flat-rate shipping. The price is the price, and it's always the same, regardless of the size or weight of the package.Cost-effectiveness Flat-rate shipping can be cheaper than other types of shipping, especially when you're sending multiple items at once.Convenience This type of shipping is convenient for customers because they know exactly how much they will be spending on shipping, and they don't have to worry about calculating the cost each time they make a purchase. Cons Cost Even though flat-rate shipping can be cheaper than other methods, it can also be more expensive than other options, especially when shipping oversized options.Risk of customer dissatisfaction Customers may not get the best deal on large or bulky items. For example, a retailer may offer a flat rate of $10 for all orders under $100, but charge $25 for orders over $100, even though the item to be shipped is quite small. Can Flat Rate Shipping Boost Sales? One of the benefits of using a flat rate shipping system is that it can help boost sales by appealing to customers who are comparison shopping online and want to find the best deal on shipping. A study by Shopify found that, when businesses offered free shipping, only 31% of orders included more than one item. However, when businesses offered a flat rate for shipping, regardless of the number of items in an order, the percentage of orders with multiple items increased to 43%. This indicates that a flat rate shipping system can encourage customers to buy more items at once, resulting in increased sales and higher profit margins. Do you want to read about another great way to boost sales? Then take a look at the best Shopify apps to increase profit. How Long Does Flat-Rate Shipping Take? Shipping can be one of the most frustrating aspects of online shopping due to varying wait times—but does the type of shipping affect this? Unfortunately, flat-rate shipping won't affect the shipping times much. The average wait times for different shipping methods, based on data from Shopify, are as follows: Standard Shipping: 2-5 business days Expedited Shipping: 1-3 business days Priority Shipping: 1 business day Flat Rate Shipping: 2-7 business days Keep in mind that these are just averages—orders can arrive sooner or later. Differences Between Flat-Rate and Standard Shipping Flat-rate shipping is a shipping option that allows customers to pay a set price for shipping, regardless of the weight or size of their order. Standard shipping is the most common type of shipping that involves charging customers based on the weight of the package and its destination. There are several key differences between flat-rate and standard shipping. First, standard shipping is typically more expensive than flat-rate shipping. Second, standard shipping is not always available for every item; whereas flat-rate shipping is typically available for any item that can be shipped. Are you running a Shopify store? If so, check out how to calculate COGS for Shopify or read about the best Shopify sales apps.
How to Use Facebook Conversions API for Your Shopify Store
What kind of events can you track with the Facebook Conversions API? With the Facebook Conversions API, users can track how well their Facebook ads are performing by measuring how many conversions they generate. A conversion is defined as any action that a customer takes after clicking on your ad, such as making a purchase, signing up for a subscription, or downloading a file. The Facebook Conversions API allows you to measure not only the number of conversions generated by your e-commerce ads but also the value of those conversions. This makes it easy to see which ads are generating the most business for you; from there, you can adjust your campaigns accordingly. The Facebook Conversions API can track any type of conversion, including those that occur on mobile devices and desktop computers. Worried about overspending on your Facebook campaigns? Now you don’t have to. With Facebook campaign budget optimization, you’ll never overspend again. How to Add and Use Facebook Conversions API on Shopify If you haven’t already, before we get to the first step, you’ll need to set up a Shopify Facebook channel. The Facebook channel contains a product catalog for Instagram Shopping, Facebook Marketing, and Facebook Shop. To get started, head to your Shopify admin, and click the + sign next to the “Sales Channels.”Click the + sign next to “Facebook” > “Update sales channel” to begin the installation.Select the “Start set up” on whichever feature you’d like to install first.Select “Connect account” and sign in to your Facebook account.Connect the Facebook assets you’d like to use for the features you’d like.Accept the terms and conditions.Finish by clicking “Finish setup.” Now that you're set up and ready to go, let’s walk through the steps of connecting your Shopify store and Facebook Conversions API: From your Shopify admin panel, select “Facebook” under the “Sales Channels” submenu option.Scroll down and find the “Data Sharing” panel, making sure the “Enable customer data sharing” is switched on, and select “Maximum” tracking level. This option enables Conversions API, “Standard” and “Enhanced” does not.Now that this is ready, open your Facebook account Ads Manager and navigate to "Events Manager" to ensure your events are populated and the server connection is enabled. To finish up, simply create a Facebook Ads campaign and let Conversions API start tracking and collecting your customer data. If you’d like to learn about Facebook’s Dynamic Ads, see our guide, or check out these 40 best Shopify apps. Benefits of Facebook Conversions API And what is the importance of Facebook Conversions API to online businesses? By tracking conversions, companies can see which ads are resulting in sales and then allocate their budget accordingly. The Facebook Conversions API is also beneficial for re-targeting, which is the act of targeting people who have already interacted with your business online—re-targeting helps remind previous website visitors about your company and can lead to higher conversion rates. The Facebook Conversions API is also helpful for measuring the overall effectiveness of a Facebook marketing strategy. By analyzing data from the API, users can see which types of ads are driving the most conversions, what landing pages are most effective, and even which demographics are most likely to convert. The API also provides data about the cost of each conversion and the return on investment for each ad campaign. This information can help businesses optimize their advertising campaigns and improve their ROI. A great way to increase conversions is to attract more site traffic. To learn how, take a look at these effective ways to increase organic traffic.