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Making $186,701 In 1 Month On Shopify (CHALLENGE)

Published on: December 4 2022 by Hayden Bowles

Making $186,701 In 1 Month On Shopify (CHALLENGE)

The above is a brief introduction to Making $186,701 In 1 Month On Shopify (CHALLENGE).

Let's move on to the first section of Making $186,701 In 1 Month On Shopify (CHALLENGE)!

Making $186,701 In 1 Month On Shopify (CHALLENGE)

startTime durationTime text
00:00:00 00:00:03 hey is it cool if i make a short video
00:00:02 00:00:05 shorter than normal and don't hold
00:00:03 00:00:07 anything back and show you all the
00:00:05 00:00:09 numbers the margin and everything
00:00:07 00:00:10 behind this screenshot okay i want to
00:00:09 00:00:13 kind of go through
00:00:10 00:00:14 uh what happened here in a 30-day period
00:00:13 00:00:16 in a one-month period
00:00:14 00:00:18 for a client that i worked with for my
00:00:16 00:00:19 advertising agency where i was the one
00:00:18 00:00:21 running all the ads
00:00:19 00:00:23 helping them test a lot of stuff grow a
00:00:21 00:00:25 lot of stuff and increase their sales
00:00:23 00:00:26 which even if you're breaking even it
00:00:25 00:00:28 makes sense to increase your sales
00:00:26 00:00:30 because you're reaching more people
00:00:28 00:00:32 and those customers can and will come
00:00:30 00:00:33 back so in this video welcome back by
00:00:32 00:00:34 the way
00:00:33 00:00:38 uh i want to kind of walk you through
00:00:34 00:00:40 186 701
00:00:38 00:00:41 for a client that i was working with and
00:00:40 00:00:43 i want to show you the margin i want to
00:00:41 00:00:44 explain exactly what happened i want to
00:00:43 00:00:45 tok about the product cost i want to
00:00:44 00:00:47 tok about
00:00:45 00:00:49 the ads and kind of what it took to get
00:00:47 00:00:51 everything there
00:00:49 00:00:52 so let's get into it if you enjoy
00:00:51 00:00:54 ecommerce stuff make sure to smash a
00:00:52 00:00:56 like and let me know
00:00:54 00:00:58 and yeah let me know inside of this
00:00:56 00:00:59 video what it
00:00:58 00:01:01 is that you're working on because i want
00:00:59 00:01:03 to make more examples
00:01:01 00:01:04 based on where you're at your ads so let
00:01:03 00:01:06 me know if you're doing zero dollars a
00:01:04 00:01:07 day 500 or 10 thousand 100
00:01:06 00:01:09 or whatever so that i can make some cool
00:01:07 00:01:12 videos breaking down more examples
00:01:09 00:01:13 for you guys so let's take a look uh
00:01:12 00:01:15 right here i want to throw up this
00:01:13 00:01:17 screenshot if you guys are not familiar
00:01:15 00:01:18 with order metrics that is an app on
00:01:17 00:01:20 shopify it's actually one of the only
00:01:18 00:01:22 ones that's in my opinion decent
00:01:20 00:01:24 that allows you to really track your
00:01:22 00:01:26 metrics your ad spend your cost of goods
00:01:24 00:01:27 it's not 100 accurate but it's it's
00:01:26 00:01:30 pretty dang close
00:01:27 00:01:32 so in the bottom left right here let's
00:01:30 00:01:35 take a look at the ad spend okay
00:01:32 00:01:37 89 255
00:01:35 00:01:39 as you can see this is an increase this
00:01:37 00:01:41 is a definitely an increase
00:01:39 00:01:43 from what had previously been spent so
00:01:41 00:01:45 you see the red there the previous month
00:01:43 00:01:46 that's an increase of over 220 percent
00:01:45 00:01:49 that's big
00:01:46 00:01:49 now we go up to the revenue 186 thousand
00:01:49 00:01:52 seven hundred
00:01:49 00:01:53 and one dollars that's an increase of
00:01:52 00:01:55 200 percent
00:01:53 00:01:56 that's big so doubling those sales
00:01:55 00:01:58 during that first month
00:01:56 00:02:00 now before we tok about the other
00:01:58 00:02:02 numbers and what happened
00:02:00 00:02:03 why is it important to increase your
00:02:02 00:02:05 revenue in the first month
00:02:03 00:02:08 and what actually happens in that first
00:02:05 00:02:09 month from a facebook ad perspective
00:02:08 00:02:10 with what i
00:02:09 00:02:12 personally focus on whether it's a
00:02:10 00:02:13 client store or my store i treat them
00:02:12 00:02:15 the same
00:02:13 00:02:17 when it's something that you're trying
00:02:15 00:02:18 to grow there is a
00:02:17 00:02:21 huge huge amount of testing that takes
00:02:18 00:02:22 place in the first 30 to 45 days
00:02:21 00:02:24 and that is why as long as you're
00:02:22 00:02:26 profitable you want to get that testing
00:02:24 00:02:28 out of the way as fast as possible
00:02:26 00:02:29 so you can reboost that margin and
00:02:28 00:02:32 continue scaling
00:02:29 00:02:34 so for example the margin on here was 10
00:02:32 00:02:36 which was slightly lower than he had
00:02:34 00:02:37 normally had and it had
00:02:36 00:02:39 been happening before in even the
00:02:37 00:02:40 previous month but you see the profit
00:02:39 00:02:42 here
00:02:40 00:02:44 increased it increased by a lot so
00:02:42 00:02:47 making 10 percent on 186
00:02:44 00:02:49 000 profit in about 18 000 but keep in
00:02:47 00:02:51 mind throughout the first month of
00:02:49 00:02:53 testing and this is just so that you
00:02:51 00:02:54 don't get scared or like really curious
00:02:53 00:02:56 on why the hell this is happening
00:02:54 00:02:58 if you want to increase your revenue a
00:02:56 00:03:00 lot there's a huge amount of tests that
00:02:58 00:03:01 are going to have to get launched
00:03:00 00:03:03 you're going to want to test a lot of
00:03:01 00:03:05 different audiences both interests
00:03:03 00:03:06 look-alikes retargeting all sorts of
00:03:05 00:03:07 different stuff
00:03:06 00:03:09 and a lot of those aren't going to work
00:03:07 00:03:09 and then you're going to launch on the
00:03:09 00:03:11 ones that do work
00:03:09 00:03:12 a lot of different types of ads
00:03:11 00:03:13 vertikally so different levels of
00:03:12 00:03:14 spending
00:03:13 00:03:16 different amounts of ad sets inside your
00:03:14 00:03:17 cbo's well a lot of those aren't going
00:03:16 00:03:18 to work okay so you're going to push
00:03:17 00:03:20 half of those out
00:03:18 00:03:22 keep the ones that do work and now you
00:03:20 00:03:24 got this nice box this nice box of
00:03:22 00:03:27 really high performing
00:03:24 00:03:28 you know cbo's ad sets and those are
00:03:27 00:03:31 your base of not only
00:03:28 00:03:32 revenue but that's your base of profit
00:03:31 00:03:34 so like i always say as soon as you get
00:03:32 00:03:34 profitable with your store you should
00:03:34 00:03:36 never go
00:03:34 00:03:38 backwards you should never have to
00:03:36 00:03:39 backtrack so as long as you're above
00:03:38 00:03:41 breakeven
00:03:39 00:03:42 test test test until you test that break
00:03:41 00:03:45 even level and are about to go
00:03:42 00:03:46 go negative so just constantly launch
00:03:45 00:03:46 new stuff get that testing out of the
00:03:46 00:03:48 way
00:03:46 00:03:50 launch as many new creatives as you can
00:03:48 00:03:52 possibly make video ads picture ads
00:03:50 00:03:54 test new audiences get that out of the
00:03:52 00:03:57 way because
00:03:54 00:04:00 on something like this it's not uncommon
00:03:57 00:04:01 to let's say do 180 000 in a month the
00:04:00 00:04:04 next month after that testing
00:04:01 00:04:04 do 500 000 and your margin will be
00:04:04 00:04:07 probably
00:04:04 00:04:08 20 to 50 percent higher in terms of the
00:04:07 00:04:10 total not the actual percentage
00:04:08 00:04:12 so instead of uh you know a 10 margin
00:04:10 00:04:14 you'd have like a 15
00:04:12 00:04:16 margin it would go up by like 50 so it's
00:04:14 00:04:17 not uncommon to do that once these
00:04:16 00:04:19 things optimize
00:04:17 00:04:21 out just understand the first month or
00:04:19 00:04:21 two for you is probably going to be a
00:04:21 00:04:23 little bit
00:04:21 00:04:25 hectik a little bit chaotik and all over
00:04:23 00:04:27 the place so you just have to be
00:04:25 00:04:29 prepared for that now let's take a look
00:04:27 00:04:31 inside of the actual
00:04:29 00:04:33 ad account i want to show you this we're
00:04:31 00:04:34 maintaining a pretty dang consistent two
00:04:33 00:04:36 roads here
00:04:34 00:04:37 i'll show you this one you'll see all of
00:04:36 00:04:39 these inside this view
00:04:37 00:04:42 and these are campaigns by the way a lot
00:04:39 00:04:44 of these cbo's so many of these in
00:04:42 00:04:46 the threes okay and there's your
00:04:44 00:04:47 occasional one that's a lot higher and
00:04:46 00:04:50 whatnot and some stuff miss tracks like
00:04:47 00:04:52 that 91 was definitely not a 91
00:04:50 00:04:54 but a lot of stuff in the threes well if
00:04:52 00:04:56 the average row as was a two
00:04:54 00:04:57 and you have a huge group of stuff in
00:04:56 00:04:58 the threes that's at a higher level of
00:04:57 00:05:00 spending
00:04:58 00:05:01 well if you just decided to stop all the
00:05:00 00:05:05 testing you would immediately
00:05:01 00:05:08 be making more profit not more revenue
00:05:05 00:05:09 more profit but you have to think about
00:05:08 00:05:11 short-term versus
00:05:09 00:05:12 long term in whatever you're doing so
00:05:11 00:05:15 like i always say never
00:05:12 00:05:17 sacrifice the long term just to make a
00:05:15 00:05:19 buck in the short term it doesn't work
00:05:17 00:05:20 it doesn't work long term
00:05:19 00:05:22 and it is not a smart move i've done it
00:05:20 00:05:24 with multiple stores and it results in
00:05:22 00:05:24 usually them dying out and then you're
00:05:24 00:05:26 just
00:05:24 00:05:28 mad a few months later and still looking
00:05:26 00:05:30 for more money so
00:05:28 00:05:31 you have that base right the stuff
00:05:30 00:05:32 that's performing really well you got
00:05:31 00:05:34 all the middle stuff and you got a lot
00:05:32 00:05:35 of the stuff that's not doing well the
00:05:34 00:05:37 stuff that might be around break even
00:05:35 00:05:39 it's just taking up a lot of your ad
00:05:37 00:05:40 spend so in reality the profit that
00:05:39 00:05:41 you're making
00:05:40 00:05:43 all of that is probably off like 30
00:05:41 00:05:44 percent of your ad spend
00:05:43 00:05:45 so in reality you're doing really well
00:05:44 00:05:47 you should have a lot of stuff at break
00:05:45 00:05:48 even and some stuff in negative that's
00:05:47 00:05:50 constantly getting deleted
00:05:48 00:05:51 right you're just turning it off turn it
00:05:50 00:05:52 off turn it off testing new stuff
00:05:51 00:05:54 turning it off
00:05:52 00:05:56 and trying to get more things up into
00:05:54 00:05:57 that category of what's working
00:05:56 00:05:59 because again as long as you're
00:05:57 00:06:00 profitable and you're not below that
00:05:59 00:06:01 break even
00:06:00 00:06:03 just keep trying to get as many things
00:06:01 00:06:05 into that upper box
00:06:03 00:06:07 if you can kind of visualize this of
00:06:05 00:06:09 things that are profitable and working
00:06:07 00:06:11 because then as soon as you kind of calm
00:06:09 00:06:12 down with your testing you can now focus
00:06:11 00:06:13 your attention not on completely new
00:06:12 00:06:15 things
00:06:13 00:06:16 but on what's inside of the box that's
00:06:15 00:06:18 already working
00:06:16 00:06:20 so now you can duplicate those audiences
00:06:18 00:06:21 like three to five times each for a
00:06:20 00:06:22 different video ad each for different
00:06:21 00:06:23 picture ad
00:06:22 00:06:25 you can duplicate it raise the budget
00:06:23 00:06:26 you can work on some direct scaling
00:06:25 00:06:28 methods
00:06:26 00:06:29 so if you focus on that focus on just
00:06:28 00:06:32 being abrupt above
00:06:29 00:06:34 breakeven getting as many audiences as
00:06:32 00:06:36 many ad sets and as many cbo's
00:06:34 00:06:37 into that positive arena that box right
00:06:36 00:06:40 there
00:06:37 00:06:41 while still testing so so much stuff and
00:06:40 00:06:42 at all times making sure you keep an eye
00:06:41 00:06:44 on your margin
00:06:42 00:06:46 then you are setting yourself up to
00:06:44 00:06:47 really really start killing it over the
00:06:46 00:06:48 next few years
00:06:47 00:06:50 and this is something that took me a
00:06:48 00:06:51 while to figure out that's why i want to
00:06:50 00:06:55 share with you
00:06:51 00:06:55 because i used to just focus on a daily
00:06:55 00:06:57 dollar
00:06:55 00:06:59 profit and that is key you're running a
00:06:57 00:07:01 business cash flow is key
00:06:59 00:07:03 and making sure you're turning a profit
00:07:01 00:07:04 is obviously how you stay in business
00:07:03 00:07:06 but what would happen is i would be
00:07:04 00:07:09 making you know fifteen hundred dollars
00:07:06 00:07:12 a day in sales with a 350 dollar profit
00:07:09 00:07:13 and that's awesome that's awesome
00:07:12 00:07:15 awesome awesome
00:07:13 00:07:17 but for an example i would rather be at
00:07:15 00:07:19 this level where we're doing
00:07:17 00:07:20 you know six thousand dollars a day in
00:07:19 00:07:24 sales give or take
00:07:20 00:07:26 and you know and we're making 550
00:07:24 00:07:28 a day in profit it's a lot more spending
00:07:26 00:07:28 going on it's a lot more revenue coming
00:07:28 00:07:30 in
00:07:28 00:07:32 it's a lot more orders to deal with in
00:07:30 00:07:34 terms of support fulfillment yes
00:07:32 00:07:35 you're making a little bit more profit
00:07:34 00:07:37 which is great you might have a little
00:07:35 00:07:38 more expenses unlike your virtual
00:07:37 00:07:38 assistants but you're overall making
00:07:38 00:07:40 more money
00:07:38 00:07:42 you're definitely working more but what
00:07:40 00:07:44 else are you doing people are just
00:07:42 00:07:46 looking at the effort and the margin
00:07:44 00:07:47 you have to think you're building a
00:07:46 00:07:50 brand you're building that company
00:07:47 00:07:51 so getting exposure to as many people as
00:07:50 00:07:53 possible
00:07:51 00:07:56 is almost invaluable and actually
00:07:53 00:07:57 acquiring a customer for breakeven
00:07:56 00:07:59 you know how many companies would kill
00:07:57 00:08:01 to do that i mean netflix they try to
00:07:59 00:08:03 average i think like 150
00:08:01 00:08:05 uh cost per new client because they
00:08:03 00:08:05 understand how long people stay with
00:08:05 00:08:07 them
00:08:05 00:08:08 so it's just understanding that repeat
00:08:07 00:08:09 business and how much you can spend for
00:08:08 00:08:11 a customer
00:08:09 00:08:12 and so as long as you're not losing
00:08:11 00:08:16 money i mean you don't have to be
00:08:12 00:08:18 netflix where you lose 140 on a 10
00:08:16 00:08:19 sale to get someone in the door you can
00:08:18 00:08:20 just make sure you're at breakeven or
00:08:19 00:08:21 above
00:08:20 00:08:23 and keep testing and those people
00:08:21 00:08:23 someone will come back they'll be on
00:08:23 00:08:25 your list
00:08:23 00:08:27 but they're also part of your lookalike
00:08:25 00:08:28 audience so you're building more data on
00:08:27 00:08:30 facebook and there's all these good
00:08:28 00:08:32 assets being built
00:08:30 00:08:33 and it really sets you up to scale so i
00:08:32 00:08:34 just wanted to kind of put that out
00:08:33 00:08:36 there so that anyone who is starting to
00:08:34 00:08:36 scale and a lot of people have been
00:08:36 00:08:38 using
00:08:36 00:08:40 my facebook ad program to really start
00:08:38 00:08:40 scaling all this stuff is broken down in
00:08:40 00:08:41 there but
00:08:40 00:08:42 i wanted to put it here for you guys
00:08:41 00:08:44 just so you can understand a little bit
00:08:42 00:08:45 more about scaling
00:08:44 00:08:47 what goes into that what you should be
00:08:45 00:08:49 seeing what is normal and natural
00:08:47 00:08:51 a 10 margin is totally fine sometimes
00:08:49 00:08:51 it'll be at a 5 sometimes it'll be at
00:08:51 00:08:53 25.
00:08:51 00:08:55 it just depends on how hard you're
00:08:53 00:08:56 testing as well as how good the product
00:08:55 00:08:58 is reacting
00:08:56 00:08:59 to those tests that you are launching
00:08:58 00:09:01 okay so like i mentioned this is a
00:08:59 00:09:03 client i was running their ads doing
00:09:01 00:09:04 everything managing all of it
00:09:03 00:09:06 um and that's something we do for our
00:09:04 00:09:08 clients in the advertising agency
00:09:06 00:09:10 and there's two ways we do that either i
00:09:08 00:09:11 personally run the ads and help scale
00:09:10 00:09:12 very aggressively if there's already
00:09:11 00:09:14 something going on
00:09:12 00:09:16 or if you're brand new maybe you don't
00:09:14 00:09:18 even know anything about e-commerce
00:09:16 00:09:19 well we actually for our clients this is
00:09:18 00:09:21 what makes us unique
00:09:19 00:09:23 we actually find the winning products we
00:09:21 00:09:24 do a whole series of product testing
00:09:23 00:09:26 we test all these products that we
00:09:24 00:09:27 believe to be winners until we find that
00:09:26 00:09:29 winner for you
00:09:27 00:09:30 and then we still keep running the ads
00:09:29 00:09:32 and scale it so we kind of do that
00:09:30 00:09:33 entire process for you
00:09:32 00:09:35 if you guys want to look more into that
00:09:33 00:09:36 you can check out the link in the
00:09:35 00:09:38 description i will put a link there just
00:09:36 00:09:39 to answer a few questions you can jump
00:09:38 00:09:40 on a free call
00:09:39 00:09:42 with one of our team members who can go
00:09:40 00:09:44 through more examples explain it to you
00:09:42 00:09:45 and kind of see what would be a good
00:09:44 00:09:47 potential fit
00:09:45 00:09:48 for us to basically automate and manage
00:09:47 00:09:50 your ecommerce business which is
00:09:48 00:09:52 exactly what we did for this client so
00:09:50 00:09:54 it's just about consistency it's about
00:09:52 00:09:54 growth it's about getting something that
00:09:54 00:09:56 works
00:09:54 00:09:58 and then taking it to the next level and
00:09:56 00:09:59 like i said this is stuff that i do on
00:09:58 00:10:01 not only client stores
00:09:59 00:10:02 but also my own it's the same process
00:10:01 00:10:04 over and over again
00:10:02 00:10:06 i treat their stores just like i would
00:10:04 00:10:07 my own so hope you enjoyed this video
00:10:06 00:10:09 hope that gave you some clarity on
00:10:07 00:10:10 scaling what to kind of look for on the
00:10:09 00:10:11 back and not even just inside your ad
00:10:10 00:10:13 account
00:10:11 00:10:14 but inside the margin inside your store
00:10:13 00:10:16 and things to focus on and one quick
00:10:14 00:10:19 point i want to leave with
00:10:16 00:10:21 a huge reason why this margin is 10
00:10:19 00:10:21 instead of the normal 15 to 25 i kind of
00:10:21 00:10:23 see
00:10:21 00:10:24 during the testing is take a look at the
00:10:23 00:10:28 product cost
00:10:24 00:10:30 70 000 out of 180 that's ridiculous
00:10:28 00:10:32 there's like a 40 45
00:10:30 00:10:33 product cost which should be like 20 to
00:10:32 00:10:36 25
00:10:33 00:10:37 so that's a huge reason why because if
00:10:36 00:10:39 this was a proper
00:10:37 00:10:41 margin product where there's not a
00:10:39 00:10:43 ridiculous product cost
00:10:41 00:10:44 well this margin would have been a 20
00:10:43 00:10:46 easily minimum
00:10:44 00:10:48 because this should have been probably
00:10:46 00:10:49 tops 40 000.
00:10:48 00:10:52 so reality the profit should have been
00:10:49 00:10:53 almost 50 000 which would have meant a
00:10:52 00:10:55 30 35
00:10:53 00:10:56 margin so it should be like that i was
00:10:55 00:10:58 treating the ads as if that's what it
00:10:56 00:11:00 was we're working on lowering it
00:10:58 00:11:01 but that's why it's it's incorrect so i
00:11:00 00:11:04 mean in reality this is like
00:11:01 00:11:06 35 it's just a matter of testing and
00:11:04 00:11:07 understanding what your actual costs are
00:11:06 00:11:09 so you can take that into account
00:11:07 00:11:10 when you are running your ads and again
00:11:09 00:11:11 that's all the stuff we do we're trying
00:11:10 00:11:12 to get the lower
00:11:11 00:11:14 sourcing from a supplier and we actually
00:11:12 00:11:15 did that successfully once working on
00:11:14 00:11:17 just getting it cheaper and cheaper
00:11:15 00:11:19 and the more order volume you have
00:11:17 00:11:20 coming in which is why that scalability
00:11:19 00:11:22 is so freaking important
00:11:20 00:11:25 the more negotiation leverage you have
00:11:22 00:11:26 with the supplier to get cheaper pricing
00:11:25 00:11:28 so the more revenue you can do the
00:11:26 00:11:29 better especially if you're profiting
00:11:28 00:11:30 all right
00:11:29 00:11:32 hope you enjoyed this video make sure to
00:11:30 00:11:32 smash a like and subscribe to the
00:11:32 00:11:34 channel
00:11:32 00:11:35 uh and again if you're interested in the
00:11:34 00:11:36 advertising agency go ahead and fill out
00:11:35 00:11:38 the form below
00:11:36 00:11:39 we definitely have a lot of clients we
00:11:38 00:11:41 work with that are getting insane insane
00:11:39 00:11:42 results and would love to explain that
00:11:41 00:11:44 to you and kind of run you through the
00:11:42 00:11:46 process of what it is that we do
00:11:44 00:11:49 alright i will see you guys in the next
00:11:46 00:11:49 video peace

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