Get to know your business
Flywheel is designed to help you understand and improve the health of your overall Amazon business. While data on your total sales and ad sales can be easy to find, putting them together and then checking to see if you are profitable can be a tricky task.
First, let’s get a quick lay of the land
1. Est. gross profit. This number tells you how much your gross profit was over a given time period. It is calculated by subtracting your Amazon fees, FBA fees, ad spend and COGS from your total sales. You must enter your COGS (Cost of Goods Sold) for this number to populate.
2. Total sales. This number tells you your total Amazon sales over a given time period.
3. Total ad spend. This number tells you the amount spent on Sponsored Products and Sponsored Brands advertising over a given time period.
4. TACoS. Your Total Advertising Cost of Sale. This number tells you how your advertising spend influences your total sales. A lower TACoS indicates a better return. It is calculated by dividing your total ad spend by your total sales.
Below the chart, you can see your opportunities and discover what Flywheel has been doing for you
5. Take Action (Opportunities) are your action items. Setting up Flywheel correctly by entering your COGS and MACS and then taking regular, weekly keyword actions is integral to your overall Amazon business success.
🏃♀️Teika Action: Click on the Cost of Goods sold tile to enter your COGS and see how your estimated gross profit changed. The more COGS you enter, the richer the data!
6. Discover Flywheel. This section shows you what Flywheel has done on your behalf, as well as keep you posted on important news and updates. The purple box shows you the number of bid changes the bidding algorithm has made for you over the past 30 days. Flywheel will automatically calculate and publish your bids directly to Amazon when you set MACS. While you and I might need sleep, the machine is always at work--learning from your data and making changes to improve performance.
🙋Tip from the experts: Our data scientists have done the math and the evidence is clear: there is not enough coffee in the world to keep you awake to make thousands of bid changes a month. Set your MACS (hint: look at your Opportunities) and let the machine take over. I am sure you can find some other ways to spend your time!
The next section will walk you through the Product Metrics page and the information you can find there.