eCommerce Lifestyle
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What Is a Realistic Sales Goal For Your First Month

What Is a Realistic Sales Goal For Your First Month?

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Anton answers that question plus more in today’s episode of the eCommerce Lifestyle Podcast.

The podcast is also available on all major podcast players including, Stitcher and Spotify.

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Transcript

Hello, everybody, Anton Kraly here. And welcome back to the eCommerce Lifestyle Podcast. Our bi-weekly show new episodes every Monday and Thursday designed to help eCommerce store owners to increase their revenue, automate their operations, and become the authority in their niche. So today my episode I'm recording on the drive in to the studio is about a question that came up on a recent coaching call that I hosted for members of the Drop Ship Lifestyle Community. And you may have noticed that a lot of the recent episodes have been coming from questions that come from those coaching calls. So if you want to be part of them, you want to hop on, they're the first Wednesday of every month, they go for about three hours.


You can be sure to become a member of Drop Ship Lifestyle and the place you can get the best price for that is by going to Dropshipwebinar.com registering for a free training I have there, where at the end, I make a special offer for the Blueprint. I should also note at the time I'm recording this, we are about... I don't know if I should even say this now, I'm kind of sneaking it in. We are about a week away from launching the all new version of the flagship program we have, the Drop Ship Blueprint. That's why I'm going back to the studio to finish up some of the final lessons there. It is a complete overhaul. And when we release the new one, the price will go up just like it does every time we've updated the system in the past. But the good news is that all existing members get free updates for life. So no need to worry, you will be upgraded for free. And everybody that enrolls before we make the upgrades will get them for free as well at this grandfathered price.


So again, if you want to get in while there's still time, go to Dropshipwebinar.com, register for the free training. And that is where I will make you a special offer in addition to providing a ton of value for you. So back to the topic at hand, for this episode, it is the question of how much money can I realistically expect to make in the first month. Now this is a tough question to answer for a few reasons. So I'm going to address it from a few angles, but I promise you, I will answer it by the time all is said and done here. So the first thing to note is that, what do you mean from the time you launch your store? Does that mean from the time you sign up for Shopify, or does that mean from the time you turn on your ads and have people coming to a store that is optimized for conversions, that has real products ready to sell, that is basically set up for success.


Because the question of, hey, I'm just signing up for Shopify, when can I expect to get some sales and make some money? Well, there's not really an answer to that question because it comes down to, how long does it take you to design your store? How long does it take you to do your supplier research? How long does it take you to reach out to them? How long does it take you to upload their products? How long does it take for you to set up your Google Ads account and your Facebook Ads account? How long does it take for your product feeds to get approved so that you can start getting both free and paid traffic? Those things typically for somebody new, if you're following a system, like my Drop Ship Blueprint can take you about three weeks, we give you a 21 day launch plan and that's the goal to get it all set up in three weeks.


But if that was your question from start to getting sales, well, it might be those three weeks. It might be five weeks. It might be two months, again, depending on how much time you put into it daily and really how fast you move through. So keep that in mind. Now, I don't want to answer this question again from that perspective, because there's not really a fixed answer. So instead let me answer it from the position of, you've already done all your research. You've built your store. You've been approved with suppliers, you've uploaded them to your store, have all their products live. You've optimized your site for conversions, meaning you've done what I teach that helps turn visitors into customers. And not only have you set up your ad accounts, but you have submitted all of your products for approval, everything has went past the pending stage with, always is just what happens whenever you submit new ads for review, could take between two days and a week and it's day one of traffic coming to your store.


So how long can it take to make money? And what can you really, realistically, that was the exact question realistically expect to make in the first month. So again, I have to say it depends because there are going to be a ton of variables, but what I can say is it is no way unrealistic to have a sale in the very beginning every few days. And that is on the, what I would say, smaller side of things, one sale every three days or so. So let's just call that... We'll call it to make it easy, 2.5 sales a week in your first month of being live. So call it 10 sales in your first month. And again, that is on the low end, assuming you did everything else right, but I want to try to keep expectations realistic here and not say what you can do on the high side.


So 10 sales in the first month. Well, how much do your products cost? Because obviously if they are more expensive then your sales will be higher with only 10 units sold, and your potential profits can be higher as well. Let's just say though, towards the lower side of things, you were selling products for, let's just say $500. That would be $5,000 revenue in the first month. Maybe you'll turn a profit of 1500 or so. And on the higher end of things, maybe that is 10 products sold at a thousand dollars a piece. Well then you could do 10,000 in sales and have potential profits of about 3000. Now on the higher higher side of things, like some of our members do at Drop Ship Lifestyle, maybe your average order value is 2000 and you still sell 10 products and you do 20,000 in sales.


Well, your margin there, if you can keep the 30% that we strive for, maybe you're making $6,000, or if you want to say on the low end, maybe you're making $4,000 in the beginning as you're working to optimize even more for conversions and profits, which of course I teach in the Blueprint. Now I want to talk about how this is possible, how you might do less, and how you could do more. Because again, there's not like a fixed formula here of, you're definitely going to do 10 sales or anywhere near that, or well above that. Because we've had stores that have done that. We've had stores that have done much, much more in the first month. Now what's going to affect that? Well, the main thing is how much traffic you're getting to your store in that first month. And not just any traffic, meaning website visitors, but qualified traffic, people that actually want what you have to sell, people that are actually going to take out their credit cards or debit cards and buy from you.


And the way this is going to be controlled, mainly if you're building a store on the Drop Ship Lifestyle model is based on how people react and respond to your Google product listings, the free ones and your Google product listing ads, the paid ones. And again, there, isn't just a fixed way to know how things are going to perform until they get out there to the world. But what I would highly encourage everybody to do... And again, this is after everything is approved already, because remember we're considering day one the day that you start getting traffic, is to be going in to your Google Ads account and to be actively monitoring on the paid side what is happening in your Google product listing campaigns. For example, are you getting impressions, meaning are people seeing them? Are you getting clicks? Meaning are people clicking your ads and going to your store?


And what you want to do from the very beginning is start to identify and troubleshoot any possible issues that can maybe linger for a month if they go unchecked. For example, maybe all your ads are approved, but a few days go by and you're barely getting any impressions or you're not getting any at all. Well, this most likely is due to some type of error in your initial account setup that you can go back and fix. Or because your CPCs, your cost per clicks that you set are too low. So go in, maybe bump them up 5 cents. See if you start getting impressions over the next couple of days. Another thing is, are you getting lots of impressions, again, people seeing your ads, but not getting clicks? Okay, well, what's the problem here? Maybe my competitors are using a better product image. Maybe they have a different price.


Maybe they're showing a promotion that I'm not. So these are the things you want to start looking at early on to make sure you can get as much traffic, which will lead to as many sales as possible in your first month. Now, from there, the next step of trying to maximize that first month as much as possible is looking at your conversion rates, meaning for those people that do click and go to your store, are they buying, and at what percentage? We like to keep it around 2.5%, obviously the higher the better, but you want to see, is it three? Is it four? Is it five? Is it one? And if it's below 2.5, especially well below 2.5, that's when you have to start looking at what products people are clicking on in terms of your ads, and then start looking at your product pages versus your competitors and seeing what might be causing people to not buy and optimizing them so that future clicks become sales to get your conversion rate as high as possible.


Now to continue to grow from there, there's a lot you'll do over the coming months and years, because the name of the game is to improve every day. But the other thing you can do within that first month is as you are optimizing your ad campaigns, is starts to move money, meaning your budget towards what works best. So cut budget on losers, move budget towards the winners and increase the budget overall. And based on all of those factors, that's really going to determine how much money you can realistically expect to make in the first month. So I know, again, there's not a fixed answer. I can't say, "Oh, you can expect just to do $10,000 and make $3,000."


I could say that, but does that mean that's going to happen? Does that mean you're going to do exactly that? Of course not. Maybe you'll do a little bit less. If you do, then go through the troubleshooting things I just went through. And if you're doing great and doing a lot more, it's incredibly possible as well. Again, we do more than that all the time with new stores, but the way we do it, isn't just by launching everything and seeing what happens. It's by launching everything, seeing what happens, and optimizing early on so that our money is actually spent, so we actually get impressions. And then, so we make sure we have the money going towards the right products. The ones people are actually clicking on, the ones people are buying, and of course optimizing our product pages to turn as many visitors into customers as possible. So again, not a direct answer, but hopefully it does provide a little bit of clarity as to what you can expect and what a baseline would be.


And probably more importantly, what you can do if you see things aren't working in that first month to make sure by the time that month is over, you are fixing problems, getting traffic, getting sales and making money. So I'm at the studio. I'm going to head in now, I hope you found this episode helpful. If you did be sure to leave the podcast a review on Apple Podcasts, really appreciate that. I'll link up how to do it below. If you are not a member of Drop Ship Lifestyle, go to Dropshipwebinar.com, attend the free training, take advantage of that special offer. Because again, the price will be going up soon when I release the brand new version of the Drop Ship Blueprint. So thank you everybody. I appreciate you. And I will talk to you on Thursday for the next episode of the podcast. See you, everybody.


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