What is profitability score?
The profitability score tells us about an online store's ability to make profits. This score is given by Konigle and ranges between 0 and 100. The score is computed using an AI model using various factors - ability to bring visitors to the store without spending much ad money, ability to convert visitors into buyers just to name a few.
How the score is computed?
Konigle uses various signals of a store to train a machine learning algorithm which will give out the score. The key factors considered for scoring a store are -
- Ability of the store to bring visitors to the storefront without spending a lot of marketing money
- Ability of the store to convert the visitors into buyers
- Store's ability to convert the buyers into a loyal customers and improve Customer Lifetime Value