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)
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Table of Contents About 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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