Ever wondered how to get the most out of Flywheel? We hope so. It’s a simple, important question, that often has complex answers. From product metrics to keyword selection, there’s a lot to consider when using Flywheel. But don’t fear -- we’ve got you covered. The following checklist helps to pull it all together. Use it to conduct a health check for your account
- Verify proper campaign structure. Make sure that you have a mirrored campaign structure -- this means that you want a corresponding manual campaign for every automatic, with the same ad groups and same SKUs within each ad group. For more a more comprehensive campaign configuration checklist, check out this article. More advanced users can consider creating an audience-based structure.
- Check the Pre-Ad Product GM% Range column. Are there any campaigns with a range greater than 10%? If so, consider removing the outlying products and putting them in campaigns of their own. Large margin variations within a campaign can result in some products underperforming and losing visibility.
Max Ad Cost per Sale (MACS)
Properly setting MACS is key to optimal performance with Flywheel.
- Set the appropriate MACS for each campaign. MACS should align with campaign objectives, product margin and prior performance. Learn more about MACS, and setting the right ones, here.
- Ensure MACS are relatively near current ACoS. We recommend a MACS that is no more than 10% below the current ACoS to prevent sudden declines in spend and performance. For campaigns in the launch or aggressive launch phase, a MACS well above the ACoS is acceptable. Refer to the MACS Calculator for suggestions, and learn about when to change MACS here.
- Assign unique MACS for each campaign. Are all MACS set to the same number? Using the same advertising strategy for all campaigns is unlikely to yield positive results for all products. Assign MACS on an individual basis, and use this helpful article as a guide. Keep your campaign objectives in mind when picking the right MACS.
Simple callouts that have a big impact.
- Complete all cards under Opportunities on the home screen. Set your MACS, input your COGS, and more! These represent low hanging fruit -- easy steps that you can take to improve the efficiency of your advertising, and visibility into profitability.
Verify advertising efficiency and profitability at the product level.
- Increase ad spend for SKUs not being advertised. Look for products without any associated campaigns and healthy gross margins. These present an opportunity to increase sales volume.
- Review SKUs that are advertised in too many campaigns. High TACoS products and those in more than 2 campaigns indicate that you may not be spending your ad dollars very wisely. If there is no strategic reason for a product to be in more than 1 automatic and 1 manual campaign, consider pausing those ads. For products that are not in the launch or aggressive launch phases, higher TACoS is acceptable.
- Locate and act on unprofitable products. Products with slim margins may be losing you money. If these products aren’t in a launch phase, consider pausing advertising to increase margins, and look at increasing the selling price (though both these actions could lead to lower sales). Consider divesting from the product if it is a long term issue.
- Get a pulse check on your best sellers. Sort from highest to lowest for total revenue or units sold, and check out the gross margin column. How do these numbers compare to previous periods? Lower TACoS imply more efficient advertising, while higher TACoS indicate higher advertising costs.
For video guidance and more ways to use the Product Metrics page, consult this article.
Double-down on top performing keywords and reduce ad spend in a thoughtful way.
- Ensure that you’ve taken Keyword Actions. We recommend doing this on a weekly basis. Keyword Actions help you use your ad dollars in the most efficient way possible by reducing wasted ad spend and getting more targeted with productive ad spend.
- Carefully add negative keywords. Are you acting on all suggestions? If so, you may be hurting your sales by negating relevant keywords. If you’ve seen a sales dip in a particular campaign, reverse any associated relevant negative keywords with $5 - $10 in prior spend, and use the criteria in this article moving forward.