What is enhanced currency conversion?
OrderMetrics automatically converts your Facebook Ad, Google Ads, Bing Ads, and Amazon PPC spend into the currency of your storefront by taking into account fluctuations in currency conversion rates over time. This feature is useful for the following two use cases:
- You have Ad accounts in different currencies, and you would like to connect them all to OrderMetrics.
- You want to get higher accuracy for your Ad spend by accounting for day-to-day currency exchange rate fluctuations.
How does the currency conversion feature work?
When this feature is enabled, we will automatically apply the currency conversion rate between the currency of your Ad Accounts and your store currency.
Our system accounts for changes in conversion rate over time on a per-day basis. As an example, let's suppose you run a storefront that processes transactions in US Dollars, you purchase ads in Euros, and your daily advertising budget is exactly 1,000 Euros. On April 7th, 1 Euro was worth $1.122 US Dollars, so OrderMetrics would report your ad spend as $1,122. On April 8th, the Euro increased in value relative to the US Dollar so that it was now worth $1.126; therefore OrderMetrics would report your ad spend as $1,126 for April 8th.
Does the currency conversion work with marketing attribution?
This feature is not currently compatible with our Marketing Analysis component.