The first step in setting up your Flywheel account is entering your cost of goods sold (COGS) and defining your advertising goals for all products in your catalog. *Requires MWS connection.
Enter your Cost of Goods Sold (COGS):
COGS data allows Flywheel to provide a holistic view of how your Amazon business is performing and insights on the performance of each individual SKU. When getting started in Flywheel it is crucial to have this information so you are aware of exactly how much money you can spend on your advertising and remain profitable.
Enter your COGS on the product settings page to unlock your key profitability metrics: Estimated Gross Profit, Gross Margins, and Pre-Ad Gross Margins. Having visibility to these metrics will help you make informed decisions when setting MACS for your campaigns.
Learn more: How to Calculate COGS
Learn more: Using COGS in Flywheel
Learn more: Setting COGS & Goals in Flywheel
Define your product Goals:
Product goals represent where a product is in its lifecycle stage: Launch, Grow, Profit, Liquidate. The current life cycle stage of a product will inform you on how to think about your advertising strategy and how much of your product margin you may need to sacrifice to generate ad sales.
Learn more: Using Product Goals in Flywheel
Learn more: What are Product Goals?