Well, it looks like it's been another couple of months so that means it's time for my Bi-Monthly income report and update! Like I've said in previous updates, I always look forward to writing these reports because it not only keeps me accountable to myself and my audience but also helps me look back and see how far I've come and how much I've accomplished (or not accomplished). It also allows me to see what is working and what isn't, exactly how much money I'm making and spending, and how much traffic I'm getting.
September and October were pretty good months, in fact, it's been my most profitable two-month period yet! On that note, let's get to what you're really here for…the money.
All of the financial numbers from here on out are for the two month period of September and October 2015.
Expenses = $139.50
My overall expenses didn't change too much. The only thing I paid for other than my regular subscription services was some advertising on Facebook (which was an epic fail…more on that later). I didn't purchase any new products or do any other advertising.
The great thing about this business is that once you get everything set up, increasing your expenses isn't really necessary. This means that even if I'm increasing my traffic 10x, and my revenue 10x, there's probably no need for my expenses to increase at the same rate. I'm looking forward to that day!
Income (New Conversions/Revenue) = 61/$464.33
(New Conversions/Conversions Over Time/New Revenue/Revenue Over Time)
Wealthy Affiliate: 15/193/$100/1,022.50
Elegant Themes (aff): 0/1/$0.00/$44.50
Dreamstime (aff): 26/205/$0.35/$16.39
Fotolia (aff): 9/81/$0.00/$0.00
Shutterstock (aff): 0/2/$0.00/$10.00
Paid Viewpoint: 2/510/$4.53/$97.34
Pretty Link Pro: 1/2/$29.10/$40.20
As I mentioned at the beginning of this update, this was my most profitable period yet! I brought in over $464 and only had a little over the bare minimum of expenses. This is a great combo that I'm going to try to keep as I go forward.
I didn't get any sales from new products, but my sales through Clickbank really shot up! I was averaging about one sale per week of The Power Of Pinning. That is a $97 product with a 50% affiliate commission, so I was making over $44 per sale! It's really nice to have a somewhat consistent revenue stream…although it makes me sad when I go more than seven days without a sale. Now I just need to get more reviews that are producing sales regularly.
If you think about it, that single product review, which probably took about 3-4 hours from start to finish (I wrote it before I was tracking my time), has generated over $700 of revenue. That means those 3-4 hours spent writing that review are generating income at a rate of over $200 per hour spent! And that rate will only increase as I get more and more sales.
This is essentially the idea behind continually producing content. Not every piece of content will convert well, but the ones that do pay for the rest and more. The greatest thing is they will just keep on producing as well. The more content I write, the more likely it will be that I get another review ranked well and making me hundreds of dollars a month. Eventually, I'll have 20 of them all working for me pretty much on autopilot.
Another funny coincidence that took place was the timing of my sales from Pretty Link Pro. I've only gotten two sales of this product ever. The first was when my wife and I were driving up to my grandparents' house in Minneapolis for a visit. This was a few months ago. Then, last month, we were driving up there again and I got another sale from Pretty Link Pro! I've been joking that we should be going up there on a regular basis!
Totals Over Time = $632.67
Total Profit: $632.67
It still boggles my mind that I've brought in over $2,300 with just a blog…that's just crazy! Even if only $632 of that is profit, it's still $632 of profit…from a blog!
It's always fun to think about the first seven months of building this website when I didn't earn a single dollar! I sure am glad I decided to stick it out!
Hourly Rate: $9.78/hr
One of the main reasons I keep track of my hours (other than keeping me on track), is so I can calculate just how valuable the time I spend working on my website is.
Over the last two months I spent about 47.5 hours on my website (I'll go into more details on what I spent this time on later), and brought in $464.33. This means my time has been worth $9.78/hour!
This is up a couple dollars from my last income report, which is awesome because I also spent more time these last two months than the previous two. That means I brought in way more money than in July and August.
In my last report I talked about how I had run into a ton of problems with the Google bot and lost almost all of my organic traffic. Since then I've had to rebuild my organic traffic from the ground up. Luckily, it hasn't taken too long to get close to where it was before.
Also, during that same time Analytics was not tracking my traffic correctly (this is probably somewhat my own fault), but I just got frustrated with it and decided to try Clicky (aff). So far I've been super happy with their services and will probably be upgrading to their premium service before the end of the year.
Because I am still using their free service, I only am able to track the previous 31 days, which makes it a little difficult to figure out my totals for the last two months…bummer. So, what I am doing is taking the last 31 days' totals and multiplying them by two to get a general idea of where I'm at for the previous two months.
Unique Visitors: 3,034
New Visitors: 2,792
Returning Visitors: 242
Average Actions: 1.9
Total Time: 44 hrs 6 min
Average Time Per Visit: 49 seconds
Bounce Rate: 55%
Overall, I'm happy with these numbers. I would like to be at 100 unique visitors per day by the end of the year. That would about double my traffic per month, which, in theory, should double my income, which means I would be pushing close to $1,000 for November and December.
Media (Image) Searches: 14
Social Media: 4
PPC Adwords: 0
PPC BingAds: 0
Facebook Ads: 0
Top 5 Traffic Generating Pages
Previously I had only listed the top three traffic generating pages, but because Clicky makes it easier to determine, I am now including my top five traffic generating pages.
I like to look at this to see what pages are drawing people to my website and where they are going from there.
Get Paid Taking Pictures Review: 1,224 Visitors
Homepage: 330 Visitors
How To Install WordPress On Your Namecheap Hosted Website: 288 Visitors
Online Success Plan AKA Mos Success+: 220 Visitors
Power Of Pinning Review: 102 Visitors
Social Media Profiles
I spent a grand total of zero minutes on my social media accounts the last two months, so I'm not surprised that none of them have grown much. In fact, some of them have even decreased. I really struggle to dedicate time to them when I can barely come up with enough time to create new content for my website. I still haven't found that balance yet.
I started off doing really well with the creation of my follow-up series/course. I created the first ten lessons and am planning on two or three more to bring the course to a close.
It has been a challenge to create this course. I really am feeling a lot of nervousness and lack of confidence in my ability to create a course that people would actually want to spend the time reading and learning from. I'm doing my best at providing valuable content that can't be found anywhere else (that I know of).
I guess I'm kind of viewing this as my first foray into creating a course and a follow-up series. If it fails miserably, then I can learn from it and do better next time.
I also really need to work on my email capture rates. I've only had 13 new subscribers to my email list with over 3,000 visitors to my page…that is a really crappy percentage.
Primary Email List: 67 Subscribers (+3)
KM Mindset Course: 49 Subscribers (+13)
Time Spent: 47 Hrs 33 Min
I spent just over a full forty-hour work week on my website. I really wish I was able to carve out more time to work on it, but it's always a struggle to balance all of my responsibilities as a husband and community member and my need for sleep with my desire to spend time working on my site. I am determined to spend more time on my site!
During the last two months, I spent the most time writing an epic review of The Logo Creator. This ended up being the longest, most in-depth review I've ever written at over 6,000 words! Other than this review, I spent a good amount of time writing my follow-up series, a couple other product reviews, and a bunch of other random things.
The Logo Creator Review: 12 hrs 59 min
Email Marketing: 12 hr 40 min
KM Bi-Monthly Income Report And Update July/August 2015: 5 hrs 53 min
TakeSurveysForCash.com 2015 – Review: 4 hrs 25 min
Follow-Up Series Posts: 3 hrs 26 min
Digit Savings App Review: 1 hr 59 min
Facebook Ads: 1 hr 37 min
Responding To Comments: 1 hr 34 min
Troubleshooting: 1 hr 4 min
WA Community: 50 min
Miscellaneous: 35 min
Education: 29 min
What I Did
I split up my time creating new content for my website and for my email follow-up series.
I wrote a grand total of three product reviews. I've been trying to write more in-depth reviews…like we're talking reviews that cover every little aspect of the product. I always hear people saying that people want quick reviews to read, but I'm not entirely convinced of that. I personally give a lot more weight to reviews that obviously go into great depth regarding the product I'm researching. This shows me the author actually knows what they're talking about and isn't just reviewing a product at face value without even purchasing it or using it.
With this change in mentality, I created a massive review of an awesome graphics program called The Logo Creator. This review ended up being over 6,000 words long. I also did a 2,000 review of a not-so-great paid-survey product called Take Surveys For Cash 2015. Finally, I finished an in-depth review of a money saving app I've been using for many months now called Digit Savings App.
Email Marketing Follow-Up Series
As I've mentioned a couple times already, I've been working on creating my first ever follow-up series for new subscribers to my email list. I've completed the first ten lessons and have them active. I still have two or three more lessons to write to finish up the series.
In addition to this, I am also publishing the follow-up series as posts to my website. I know some people might think this is a bad idea, but I don't think it is. I'm writing the content and having it do as much work for me as it can. It's creating a ton of quality content for my blog as well as providing valuable content to my subscribers.
The reality is most people probably aren't going to spend hours clicking through my blog posts to get all 12 lessons at once. If they come across one organically they will read it and sign up to my course where they can get them all delivered to them over time.
Here are the first five lessons of the blog version of my Mindset Shift Course. The rest will be here by the next update in January.
- KM Mindset Shift Course – Lesson 1 – The Lies And Misconceptions Of Making Money Online
- KM Mindset Shift Course – Lesson 2 – Setting Goals For Success
- KM Mindset Shift Course – Lesson 3 – Finding Your Online Support System
- KM Mindset Shift Course – Lesson 4 – The Time It Takes
- KM Mindset Shift Course – Lesson 5 – Failure
Facebook Ads (Fail)
I attempted some Facebook ads again but failed miserably. I was trying to promote my Digit Savings App Review but failed to convert a single new user of the program. So far, my record with any kind of paid advertising is dismal…but, then again, I haven't really done any research or followed any courses to teach me how to do it correctly. I've just jumped headlong into it…you'd think I'd learn my lesson!
- Post 5 new pages or posts, not including this update YES (7 new posts)
- Work for 60+ hours NO (47 Hrs 33 Min)
- Finish the first iteration of my free email course NOT QUITE (10 lessons finished and 2 more to go)
- Over $400 PROFIT NO (only $324.83 profit)
- Send out blog broadcast once per week NO
- Create new logo NO
- Have 100 subscribers to email course NO (49 subscribers)
Goals For Next Two Months
- Post 10 new pages or posts, not including this update
- Write 2 in-depth product reviews (including in 10 above)
- Have over 4,500 unique visitors to my site
- Work for 60+ hours
- Finish the first iteration of my free email course
- Over $500 PROFIT
- Send out a blog broadcast once per week
- Create New Logo
- Have 125 subscribers to email course
That about sums up the last two months of my online journey. I'd love to hear what you think about my progress, what I'm doing, ideas you might have for me, or things I could be doing differently/better! Please leave me your comments below!
I look forward to hearing from you.
Dustin “Kirby” Garness
P.S. If you'd like to learn how I figured out how to do all of this, how to make money from a website, please check out this post.