62 Campaigns down!
Update number 6.
PRODUCT COST: $2,245
FB COST: $1,197.66
TOTAL REVENUE: $3,753.55
TOTAL PROFIT/LOSS: +$310.89
Considering how heavy I test, I'll take $300 profit any day!
It's not much if you consider the spend, round a 15% ROI but if you also take in the fact that I have a tonne of tests going on at the same time, it's good.
My testing volume goes up depending on how well my campaigns are doing.
When I was doing $10k+ revenue days, my testing costs was almost $1,000/day!
But that allowed me to find new ways to expand my campaigns and those small losses of $3-$5k allowed me to uncover $20-30k+ worth of profits by expanding.
This is how it kind of works.
If we were to break down 3 individual campaigns that are making me profit, we'd get the below stats,
Product 1 sc
Total Cost: $606.56
Total Rev: $791.60
Total Profit: +$185.04
Product 2 sp
Total Cost: $1,297.68
Total Rev: $1,705.85
Total Profit: +$408.17
Product 3 ele
Total Cost: $624.54
Total Rev: $689.50
Total Profit: +$64.96
TOTAL + $658.17
These individual campaigns are brining in some testing money AND putting some money in the bank to test for the future. My ratio of finding these are about 1 in 15.
But I'm going for the big camps which are really rare. It's kind of like collecting Pokemon Cards.
How do you find rare pokemon cards? You just gotta keep buying booster packets!
Same deal here, only way to find them here is to keep testing and hunting.
Every day that goes by I learn more and more about research, testing, and generally get directed towards profitable niches. It's just a matter of time till I find a big one.
Drop Shipping/Teespring is a Continuous Process on Repeat
You may have noticed that there's not much difference between this update and my other updates.In terms of launching, analysing data, continuing/cutting.
In fact, Drop Shipping or Teespring is really just a continuous and often boring process of the above. There's really not much else to it!
That's why I started to explore the Drop Shipping industry because I was kind of getting burnt out with Teespring/designing.
In saying that, it's always exciting to start seeing sales, a few hours after setting up a new campaign. it's a rush and your mind starts to do a tonne of calculations as to how much money this product can bring you.
I've had this idea brewing in the back of my mind for almost a year!
I want to start publishing an ecommerce magazine. kind of like the below,
Would you guys be interested in this?
I don't want to cover boring stuff like world economics and how ecommerce is going to do in the next 10 years, I want to cover relevant, actionable ideas, case studies and interviews that's going to help newbies get off the ground and help other grow their business.
Killer Campaigns I find on FaceBook - reverse engineering their targeting
Interviews of successful teespringers/drop shippers
All that stuff ^
Let me know in the comments if you guys would be interested. It will be free for ecomuniverse members or I'll charge a monthly fee for the magazine.
Hopefully it will allow me to get some great minds together and share their expertise. It's going to be epic!
Get Serious About Shopify & Teespring