This article is for people that are running stores in 2 different currencies, or have their ad platform spend in one currency and their store processing payments in a different currency.
As ecommerce continues to expand and grow, more business owners are accepting multiple currencies. Wicked customers with multiple currencies often want Wicked Reports to calculate exchange rate currency values so that the ROI reporting can be correct. There are 2 currency situations with different outcomes and solutions.
Currency Situation #1. Different websites, ad accounts, and shopping carts for each currency. This means you have a website, Facebook & Google ad accounts, and a shopping cart, all unique and aligned for each currency.
Currency Situation #2. Commingling of ad accounts and shopping carts with different currencies. You have ad accounts in 1 currency and shopping carts in a different currency.
Currency Situation #1
Different websites, ad accounts, and shopping carts for each currency.
In this situation, the Wicked Reports solution is simple: Separate Wicked account for each currency. This ensures that your ROI calculations are accurate. Talk to sales, we can adjust billing based on the overall revenue of all stores combined.
Currency Situation #2
Commingling of ad accounts and shopping carts with different currencies.
In this situation, your Facebook or Google ad account is in 1 currency, but your shopping cart is in a different currency. Wicked Reports is not in the business of calculating exchange rates of various currencies (sorry). There are 3 options.
- Option #1 is to translate the currency values of your shopping cart on your own, and then send us the order value via API.
- Option #2 is to setup ad accounts for each currency, and then drive currency traffic to the shopping cart with the same currency (basically, set up currency situation #1).
- Option #3 is to have Wicked Reports use the currency you do the most revenue in, and live with the exchange rate differences.