Aug 15, 2019 - 03:22 PM
After only a short time doing paid advertising you are able to get each sale for a loss of just 50 cents? If your numbers are consistent and you can scale without having to bid significantly higher than you have a winner!
For most businesses it is very rare indeed to make a profit on the first sale! The profit is usually in subsequent sales. A few tips for you:
- If your product is consumable/gets used up (e.g. detergent) consider selling a subscription
- Use 1-click upsells. There is an previous post that treats them extensively. Most businesses do not do this well if at all. If you invest effort here you will do better than most.
- Sell bundles. If you can do this without decreasing the conversion rate you can likely become immediately profitable.
- Lastly, invest in conversion rate optimization. This is especially important as the incremental revenue from optimizing your pages DOES NOT have an additional acquisition cost! For the same amount of traffic you get more sales. Here is an example of what Conversion Optimization can do for your business.