Is Excel not cutting it when it comes to tracking your Amazon business or Walmart finances? Do you wish there was an easier way? Well, Helium 10’s Profits is for you!
Profits provide powerful insights and data that break down the influences on your financial health, products that are failing and succeeding, and a bird’s eye view of everything flowing in and out of your company.
Switching financial tracking systems can be difficult, especially if you’re unsure of the software. So, we created this article to break down each aspect of Profits and explain it to you in simple terms.
Keep reading to find out if Profits is a software that you start benefiting you today.
What Is Profits?
Helium 10’s Profits tool is a one-stop shop for all your selling analytics across both Amazon and Walmart. With this tool, you’ll see the big picture regarding your product sales.
Profits show you how your products are doing in their current market. This makes it easy to see what products are succeeding and which are failing in your business, as they display both the positives and negatives of the products.
Cost
While Profits analyzes your products on both Amazon and Walmart, there are limitations, especially if you use Walmart. See the table below for a cost breakdown for Profits.
| Â | Free | Starter: $29/month | Platinum: $84/month | Diamond: $209/month | Elite: $399/month |
|---|---|---|---|---|---|
| Amazon | Included | Included | Included | Included | Included |
| Walmart | Not Included | Limited- 90 Days | Limited- 90 Days | Included | Included |
The Diamond and Elite plans allow you to connect multiple seller accounts, such as Amazon US, Amazon UK, and Walmart.
If interested, you can use Profits for 30 days, risk-free, by signing up today.
Connecting Your Amazon Seller Account
- Log into your Helium 10 account, or sign up for free.
- Once on your main dashboard, select Profits from the menu at the top of the page.
- You’ll then be taken to the Profits dashboard. This is where you’ll need to connect your Amazon Seller Account.
- Click on Connect Your Seller Account.
- You’ll then be asked to select your platform. For this walkthrough, select Amazon. We’ll cover Walmart in the next section.
- Select Connect to Amazon.
- Next, enter your alias or display name for the Amazon account.
- Then select your region.
- Once this information is entered, hit Continue.
- A new window will pop up, asking you to sign into your Amazon account.
- Helium 10 will take you to your dashboard after your account is connected.
Connecting Your Walmart Seller Account
- Log into your Helium 10 account, or sign up for free.
- Once on your main dashboard, select Profits from the menu at the top of the page.
- You’ll then be taken to the Profits dashboard. This is where you’ll need to connect your seller account on either Amazon or Walmart.
- Click on Connect Your Seller Account.
- You’ll then be asked to select your platform. For this walkthrough, select Walmart.
- Select Connect to Walmart.
- Next, enter your alias or display name for the Walmart account.
- Then, hit Next.
- The new screen will show you a brief walkthrough of connecting your Walmart account to Helium 10.
- Select Go to Walmart Seller Center to get started.
- Once you’re finished with the setup, click on Connect Now on the Helium 10 page.
- Helium 10 will take you to your dashboard after your account is connected.
Profits Walkthrough
Dashboard
The Profits dashboard displays an overview of all your business’s metrics.
These metrics give you a good idea of the health of your finances across all products.
Net Profits and Gross Revenue
The first thing you’ll see on your dashboard is your store’s performance metrics: gross revenue, net profits, margin, cost, orders, units, and refunds.
These metrics are spaced from today’s date to the previous week. You even have a custom date range card that you can set up for a month or a year’s view.
Favorites
The Favorites section is where you can add your specific products to your dashboard to view quickly and monitor without having to go through the Inventory Levels tab.
Here’s how to add a product to your favorites:
- Click on the Add favorite items button to add a favorite product or products.
- You’ll be taken to the Inventory Levels tab.
- To add a product to your favorites, click on the star icon. This will add the product to your dashboard for easy access.
Sales Trends
The Sales Trends displays which of your products is performing the best and which aren’t by using the sales data from two days prior and yesterday.
This is great to look at when determining what products you need to cut or conduct more research on.
Store Performance Matrix
The Performance Matrix expands on the data displayed at the top of the dashboard: Net Profits and Gross Revenue.
The only metrics that are added are:
- ROI
- ASIN Count
- Page Views
- Sessions
- Unit Session %
The rest is the same, along with the time frames; they mirror the previous profit cards displayed at the top of your dashboard.
You can even use a helpful tool to explain the data you are seeing. Simply click on explain at the end of the row.
Store Trends
The Store Trends graphs provide a bird’s eye view of your units sold and your net profits from the current month to the previous month. This data is helpful when determining if you need to make changes to your products or store.
Sales and Traffic Conversion
If you want to see how many page views, sessions, units sold, and your conversion rate from all the combined data, then the Sales and Traffic Conversion graph is what you’re looking for.
Here, you can compare how many people are viewing and interacting with your products to the number who actually bought a product. This is a good indication on if consumers are interested in your products and how many potential customers you are losing.
Bestsellers
The Bestsellers graph displays your top five best-selling products and their sales trends.
Product Performance
The Product Performance tab displays how each of your products are doing during a specific time frame. Financial metrics for each product are shown on each product card.
Here you can view metrics like gross revenue, ROI, units sold, sessions, and more.
There is also an explain button at the end of each product card that you can use to see a visual of your financial metrics. You can also toggle between other tabs to see more specific data, such as inventory heat maps and sales heat maps.
If you want to view products with specific criteria, say minimum page views or maximum margin percentage, you can add filters. By clicking on the show filters drop down at the top of the page, you’ll reveal all the criteria you can set to gain the exact product performance view you want.
Inventory Levels
The Inventory Levels tab displays your current inventory levels on all your active products. Data pertaining to your inventory can also be found in this section, such as estimated fees, cost of goods sold (COGS), sellable inventory, and more.
You can also view a graph that displays each product’s inbound, available, and reserved inventory levels by clicking on the graph icon at the end of the row.
All of this information can help you monitor and make decisions about your inventory with confidence.
And, as an added bonus, you can export your COGS to further examine it outside of Helium 10 and import any data to update your COGS.
Expenses
The Expenses tab breaks down all of your business’s recurring and one-time expenses in an easy and digestible way. On this tab, you’ll find the following information:
- Recurring monthly expenses
- Monthly totals
- Expenses by month
The Recurring Monthly Expenses card displays all your monthly expenses, the date they’re due, the service, and the total of each service; plus the total of the entire monthly.
This will help you track what is coming up, where your money is going, and how much you’re spending.
To the right of the recurring monthly expenses is your Monthly Totals card. This card shows you your total expenses by month and then the total spent thus far in the year.
You’ll be directed to the Expenses by Month section at the bottom when you click on the month. Here you will find each individual transaction, the date, what it was for, the ASIN, expense type, and amount.
Utilize this information to track your expenses and make important financial decisions.
This data can also provide insight into fees or costs that you no longer need or didn’t know you were still making.
Refunds
The Refunds tab shows useful charts that easily break down your refund data.
You can gain insight into potential problem products by reviewing this section, as Profits provides information on your top five refund ASINs, top five refund rates, and all your refunds.
You can even download or export the data listed in each section to analyze it further outside Helium 10. Just click on the three dashes or the Export button.
Heat Maps
Heat Maps, also known as Heat Map Analytics, shows you a list of all the warehouses where your inventory is stored. On the heat maps tab, you’re able to toggle between products and view each product’s inventory and sales heat map.
But why are heat maps important?
You don’t want to restock your product instantly when you are restocking a product that is currently out of stock on your page. Instead, you want to wait until your product is more widely distributed around the country, and that is where heat maps come in.
By waiting until your product is more spread out, you lessen the wait times your customers may experience when ordering the product.
Inventory Management
Although Inventory Management is displayed in Profits; it is actually its own tool separate from Profits. Helium 10 was nice enough to lump it in with your navigation because inventory is linked to your business’s profits, as you have seen above.
Read our Inventory Management article to learn more about the ins and outs of the tool and if it is something you would utilize while using Profits.
FAQ
Is Profits on the Helium 10 Mobile App?
Yes! You can monitor your profit analytics from your phone through the Helium 10 mobile app.
Why Doesn't Profits Include All Amazon Fees in Its Calculations?
Some costs are not made available through Amazon’s API, but Profits displays any Amazon fees it can access at the time.
To counteract this, Helium 10 permits you to add in the additional costs on the Expenses page within Profits.
Why Are There Discrepancies in My Profits Reports?
There are several reasons you might see discrepancies in your reports, such as:
- Amazon’s API data, as this data is updated according to Amazon’s schedule.
- Daylight Savings Time (DST) can interfere with your reports, especially if reports are pulled around the time clocks switch.
- Pending orders are included; if they are canceled, it skews the data.
- Some fees are not collected, such as coupons.
Final Thoughts
When monitoring and tracking your business’s finances; it can be overwhelming, especially if you’re doing everything by hand. Luckily, Helium 10’s Profits make viewing your financial health easy.
With Profits, you can examine your business’s financial health at a glance with the dashboard. Then you can dive into specific finance-influencing sections, like Product Performance and Refunds.
And you might not even know that inventory levels or refunds affect your business’s finances, but they do! That’s why Profits provides the data and various sections it does.
So, if you’re ready to dive in and grab hold of your business’s finances, sign up today and start using Profits for FREE!
