I'm very fortunate enough to say that I've been able to hit a ceiling of $50k a month after all your help and advice in this sub and across the Reddit community. I know that I can scale past these numbers, however, I'm lost on where to start.
Here's a breakdown of the business structure:
Year to Date Overview:
- Sales: $185k
- AOV: $550
- Returning Customers: 11.73%
- Average Profit: 12% (I will focus on this more once I see a steady amount of strong sales)
- Store Sessions: 132k
- Conversion Rate: .23%
- $20k liquid cash to invest
- Professional look with social proof, legal pages, about, blog, easy navigate collections, UGC on the homepage
- Affirm/Afterpay for users since items can be $1k & more
- Optimized product page to easily convert (good pictures, descriptions, trust signals, reviews)
- Fast shipping times
- Bestsellers inventory on hand
- Not all inventory is on hand but can be ordered through a supplier quickly enough to meet shipping time (no point in investing in inventory if it isn't selling like best sellers)
- Social Media feedback (comments/DMS/etc) is managed in house by us
- E-mail inquiry is low volume, 2-3 e-mails a day on average, managed in house
- Fulfillment is in-house in a centralized location, manageable since 2-3 orders can be $1,500 in sales
- Facebook – $15k~ on ad spend but looking to increase soon since we shot content for new ads
- 3 campaigns: 2 Top of Funnel, 1 Retarget
- Google – $3k on ad spend
- Search Campaign – currently bidding for our brand name keyword, not currently bidding on product-specific key words
- Shopping – live, but can use more optimization, idk where to begin
- Klaviyo/SMS Bump
- These two are currently only being used as abandoned cart reminders, something tells me there is tremendous untapped potential here to generate more sales (cross-sell, repeat buys)
- Snap/Tik Tok
- Considering these platforms but is it worth the time?
- My audience is largely male and the top 3 age groups: 35-33, 25-34, and 45-54. ( 18-24 just barely reaches 4th spot)
- Around 7k likes, we don't post much content on our feed since we don't believe it is much of a revenue-generating activity. We did a while ago but haven't in a while. No noticeable different by not posting (on feed) in 3 months
- We post on our story when we are shipping out boxes for our customers, or showing our products in our warehouse. also the occasional review for more social proof
Would love to hear how you guys would scale this business past $50k/month. I feel like there's so much I can do but I'm past the straight path (ie. set up website, learn ads, create ads, etc.) We are a USA based company.
Open to questions so I can clarify anything.