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- $100k in First 30 Days!
$100k in First 30 Days!
Follow along as we are taking this store to $1m a month!
STARTUP → GROWTH
30 Day Update on New Store Progress
If you are new here, welcome! We are documenting a new store ramp up.
Here is the 30 day update! $100K!
RECAP: On this store, we did not have an audience, a previous customer list…
NOTHING! Just a warehouse full of products to sell and no one to sell to.
The company previously only sold products through wholesale.
So we are building a system to grow to $1m a month and beyond!
And documenting the entire process here! Along with giving some insights from storefilter.com (the largest database of Shopify store data online)
Ok… let’s get into it!
Last week we started pumping Google ads at $3k a day.
But we noticed that revenue was not increasing with the increase of ads spend.
This can happen! Just take a deep breath and chalk it up to learning.
Time to dig into data!
We are running PMAX campaigns on Google only. No Facebook ads running at the moment as we are gearing up on a new social giveaway campaign now!
(I will show you that campaign and results from it next week)
In PMAX if you go to CAMPAIGNS > ASSET GROUPS > LISTING GROUPS
You can see which groups are driving revenue and which are not.
We used this data last week to optimize what was not performing.
Last week our cost per sale was $150 on some days.
Yesterday our cost per sale was $25!
Yesterday we spent $580 to make $3800.
Ok… now we are getting somewhere!
Next step is to build out more campaigns around this performing PMAX campaign and launch our daily giveaway campaign on social media to increase our engagement and following. Doing both at the same time should supercharge our revenues and returns for this brand.
There are so many additional traffic sources and revenue sources to unlock here. But when people are searching on Google for these products… we need to dial in this traffic first, then Facebook / Instagram, then influencers / YouTube, then TikTok as I am back-channeling to get TikTok Shops approved.
Where there is a will, there is a way!
Literally I have a rolodex of people who can do things that are not possible!
Anything is possible when you are dedicated to the end result.
Digressing a bit, getting back on target.
Follow the numbers…
Test… find something that is working and then dial up!
Along with stores that I own, I also have people reaching out daily to have us help advise on growth plans for their stores.
One store owner who reached out yesterday is beating herself up because she has “tried everything and nothing is working to sell X product.”
Question… you have been in business for 3 years, what is selling?
Answer… Y product sells really well, but we want to sell X product.
This is one of the biggest problems that I see with store owners…
They get too connected to a product that is not selling
And they keep focusing all their energies to unlock sales for something that does not have a demand.
People vote for their favorite products with their money.
It is YOUR job to look at the sales reports to figure out what they like.
Create an assumption on what they like, then make more of that!
Running a successful eCOM store is all about best guesses.
And the more you sell online, the better your guessing can become.
If you read the data!
I have clients who REFUSE to read data and they constantly make bad decisions. The data is there. Learn from it!
Also, don’t be scared to throw out a product because it is not selling.
A friend of mine told me once:
“I will launch new products on a store, run ads to it, and see if it sells without ever ordering inventory.”
He has a few hundred thousand dollars of product in a warehouse that I purchased that he could never sell.
We will all eventually be massively successful if we don’t quit and we learn from our mistakes.
There is a really good chance that you will not be massively successful on your first product.
However… every product after your first is inching you closer to your success.
If you have any specific questions about your store, just send me an email!
I will be happy to take a look to see if there is a quick win nearby!
Now back to building this viral campaign loop to 10x our social following and engagement, which will drive MORE organic sales to help give us a lift!
Consistent $10k days are so close! Just on the horizon.
Let’s get it!