My First Attempt at an Ebiz (Part 2)

OK, so maybe using the word “successful” in the title was a little misleading. But I promise you that at the time I thought starting a “successful” eBusiness was going to be easy.

So as promised, here are my current Adwords numbers for my product test last week.

Now what does all this mean? Well, out of the 303 clicks I received, I actually made 3 sales with a gross income of $180 ($60 profit per sale).

Was it successful? 3 sales from 303 clicks is a 1% conversion. Not bad, about what I expected. So in terms of my website and sales copy…a success. But obviously as a whole, this ad campaign failed. I spent WAY to much money getting 303 people to my site. With the ads costing me $330 and making only $180, this business is losing money hand over fist. $150 in the hole.

What was the problem? Obviously my cost per click was way too high at $1.09. I realized quickly that if I want to turn a decent profit, my cost per click is going to have to be down near $0.20. So after a few hours of playing with my campaign settings, adgroups, and max bid per click, I thought I had it tweaked to where it would work. I let it run another 5 days and my cost low CPC of $0.22 made most of my keywords inactive. I ended up not being able to pull in the traffic that I needed for the business to succeed. Oh well. At least I gave it a shot. I have hopes of trying one new business a month this year in hopes of hitting on a winner. I’ll keep you posted.

Has anyone else made any attempt at an Ebiz using the 4-Hour Work Week method?