P/L: + $12,645.32
Gotta love those 5 figure months...
Finally, some Big Numbers
12.6k might not be that big for a lot of seasoned IMers but for little ol' me, it's quite a big deal. Especially when you add another 2.5k from my blog and convert that total to Aussie dollars by multiplying by a factor of 1.2.
That's an 18k profit month! Full-time work would bring me 4k/month after Taxes so I've just bought in 4.5 months of full-time employment in one month! Although my mind doesn't really think like this anymore. Attempting to hit 10k months has become the norm as the affiliates in my circle are doing much more.
Still, seeing a bank account increase of 18k is awesome.
Confessions of a Teespringer
One thing I haven't mentioned previously, (at least I don't think I have), was that 95% of my campaigns have come from every country BUT the United States. In fact, most have been targeting Australia and New Zealand.
Why? The same campaigns worked a lot better in these countries when compared to the States. I would think it's because Aus/NZ were less saturated. The same campaigns, when launched in U.S., would flop big time. The problem with these countries however, was the considerably smaller audience size. A profitable campaign would last about a week and bring in 1k or so but I'd hardly have anything over 100 sales. I'd be in awe of people posting screenshots of 500+ sales which I knew was ONLY possible with a larger audience size.
Changing Things up a Bit
This month, I decided enough is enough and started to test heavily with U.S. I launched about 100 campaigns in the space of 2 weeks and found a few really big winners, (audience size 5 million+). Because of this I was able to sell 500+ shirts/hoodies and have campaigns run for a good month. Things felt more 'passive' and I started to feel like I found a solution to my 3-4k months.
From now on I'm focusing on making things work in the United States, you just can't beat the scaling potential there.
Scaling The Right Way
Every time I would have a successful campaign that was giving me decent, consistent ROI, I'd try increase the budget/scale it. E.g, if I was spending $50 and bringing in $100, I'd try maintain the 100% ROI and increase budget to $100, expecting $200 in revenue.
Each and every time I did this, my revenue would stay the same or barely increase! I just couldn't figure out why. This time around I decided to do things differently. I broke my winning campaign into multiple ad sets by set age groups. E.g, if my campaign was working for 40-65 year olds, I'd split it to,
I'd put $20-$50 towards each of these ad sets depending on which age groups were converting the best and monitor the campaign for a few days. The age sets that were doing well, I'd increase ONLY those budgets and keep the average performers with low budgets. This is probably common knowledge and you'd think I'd have figured it out by now but I hadn't. By doing this I was successfully able to scale one of my campaigns from spending $200/day to $600/day! It's still bringing in 100%+ ROI which is about 1.2k in revenue alone which is awesome. The audience size is 10 million+ so needless to say it's a killer campaign. I'm expecting at least 2,000 sales at $20 per sale, ($40k), out of which a good 20k should be profit.
Increasing Profits with Jumpers
Christmas time was great for a lot of Teespringers that found success in Christmas Jumpers. I personally know someone who made 250k in November doing this. After reading his success story on Aff Playbook, I decided to give it a go! I got a couple working but got in way too late so couldn't really make much with it.
HOWEVER, I found something really interesting. Something that's increased my profits by over 30%. The base cost for jumpers was only $10-$13 compared to Hoodies at $20-$23! This means that I'd pocket $28 per sale instead of $17 if I were to push Jumpers instead of Hoodies.
Trying this theory out, I made a few campaigns where the feature product was a jumper, not a T-Shirt or Hoodie. Eventually I started selling at the same rate as my Hoodie campaigns, only this time was making much more per sale!
I recommend you guys to try it. Higher profit margins means more profit. You should be aiming to increase your revenue and decrease costs in every possible way and this is a definite way to increase your revenue.
Still Learning New Things
I've been focusing 100% on Teespring for pretty much all of 2014. It's amazing how I'm STILL learning new things.
E.g, this month I learned,
- Scaling while maintaining good ROI
- Focusing on U.S.
- Pushing Jumpers to increase profits
- I'm sure there were more,
Bottom line, you can never call yourself a guru at something as you'll always remain a student. Sure, you'll be miles ahead of others but there will always be something more to learn which can further better your business. It just amazes me how I keep learning things from others even now and makes me feel like people wanting to get Teespring right straight off the bat are setting themselves up for disaster.
I've said it before, you need to treat Affiliate Marketing like a marathon not a sprint. You'll have considerably more failures than successes, it's just the nature of business. The main thing is pushing on and increasing your knowledge to the point where more of your decisions will be successes than 'failures'.
Input VS Output
Prior to this month, I've been working quite a lot. About 4 hours per day to maintain my income at $200 profit/day. This month however, I started of REAL strong. 5-6 hour days, 10-15 campaigns per day. One week later I started slacking and the whole holiday mood started to take effect. Second week later I was barely working but luckily by that time I had found some massive campaigns.
I started working around 1 hour a day, mostly updating stats and launching the odd 1-2 campaigns but since I was bringing in a good income and knew it would continue for a good 2-3 weeks, I started to get lazy.
The input VS Output ratio in this business is kind of everywhere. You have people in this business barely working at all and making huge numbers where as others have to work 10 hour days to sustain the same income. What's the difference? A lot of things. Processes, Smarter work ethics, Outsourcing, Different Affiliate Models.
This month I worked about 2 hours TOPS on my blog and it made me 2.5k in revenue with almost 0 cost. THIS is the type of income I love. No work, barely any maintenance and still a decent, growing income. It made me think about what I want in my life. There's no point earning a lot of money when you've got to be stuck behind your computer to earn it.
It's 2015 as I'm writing this and I've achieved a lot of my goals I set in 2014. However, most of my activities was based on short term goals. This time, I want to look in the future and make decisions that increase my income and at the same time DECREASE the time spent earning it.
Ideally I'd like to work 4-10 hours a week and make 5 figures a month. To do this, I need to get myself out of Teespring. Either outsource a lot of the processes or stop it entirely and focus on other, long term affiliate models. My own product, blog growth, my own websites, etc.
before my focus was making a lot of money. Now it's freeing up my time and focusing on my health and personal life. Let's see what 2015 will bring. Hopefully success in every way for all. As long as we remember to put in the hard work, everything is possible.
What are Your Goals for 2015?
Mine are to build a more stable business. None of this 1k one month and 20k the next. I want to be hitting 20k EVERY month. To do this, I need to focus on asset building on not just the Teespring hit and run. I hope to,
- Engage more with my Blog Audience, (Twitter/Fb Group/Affengineer Forum)
- Build a 5 figure/month organic business. Something similar to this blog.
- Network with all the top affiliates in this industry. Not a fake 'I help you, you help me relationship', but a genuine one where we can just chat about non-affiliate related things and still enjoy each others company.
- Another 6 figure year. I made about 143k USD profit in 2014. I want to maintain 6 figures.
Comment Below on what you guys want to achieve. Good luck for 2015!
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