October 2015 Profit Report: $640

Shane Labs November 10, 2015 0

Well my first month as a freelancer has officially completed. Do I have incredible stories of amazing results to share with you? Has revenue quadrupled and sales gone through the roof? Unfortunately not 🙁

To be honest I’m a little worried. I’ve spent the last month working on promoting a specific side project (AmpedSense), and the needle has barely moved. I went from $118 to $335 in sales, and although that’s progress, that’s not nearly enough. My hope is to get that to about $2k/month, which means I need +23 sales every month. That doesn’t seem like that much, why can’t I do it?

My attempts so far at plugin marketing:

Here’s what I’ve been doing to promote AmpedSense:

  • Reaching out to people on forums who are looking for advice on their niche sites and AdSense revenue
  • Attempting to form a relationship with major influencers that have audiences that’d benefit from my plugin (ie, affiliate recruiting)
  • Attempting to capture leads via a free email course that teaches people how to optimize their ads
  • Pleasing my original user base (with updated features) so they are so delighted they tell all their friends
  • Offering a ‘review versions’ of the plugin to bloggers so they can write about it to their audience.

I’m pretty sure the product is solid – everyone that buys it loves it and thanks me for creating it. And the website isn’t too bad – about a 1% CR from visit to sale (that’s about average, right?). I feel like I need to focus on traffic, and that means SEO (slow), advertising (expensive), or referrals (hence the affiliate efforts above).

I’ve also thought about some more radical business model changes for AmpedSense. Should I be releasing a limited free version of it in the wordpress plugin directory? Or charge recurring monthly instead of a one-time purchase? I’d prefer not to go down those routes (as it could ‘cheapen’ the product while making my support hours – see this case study from Baremetrics when they went freemium), but I may have to if things don’t ramp up soon.

Next month has already started and I’ve began trying 2 new things – paid reviews and Facebook retargeting ads. It’s too early to tell how they’re doing, but stay tuned for next month’s report to see how they perform.

This month’s recap

Let’s look at the stats for this month:

Compared to last month, I have +1k additional visitors, but -$190 in profit (last month had an unusual spike in HostBenchmarker commissions).

Did you miss any articles?

If you haven’t been to my blog in a while, here’s what I posted last month:

Any questions, suggestions, or feedback about this breakdown? Would love to hear from you with a comment below!

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