Congratulations! You made it this far! You have installed Podify, familiarized yourself with the platform, learned about standing out, got down the basics of marketing, added some killer apps to boost your CR – and now you are ready for probably the primary reason you are here – to make a lot of $$$!
Now listen, a business should do more than just make money. We didn’t make Podify only to generate money – we wanted to make Podify to allow entrepreneurs from all over the world create fully automated, unique dropshipping businesses they could run from anywhere in the world by selling quality products that customers will come back to again and again. And the funny thing is if you provide a good quality product and customers come back than
To summarize, making a profit is certainly very important, but it shouldn’t be ONLY to make a profit – you want to offer a kickass product that customers will write back to you and say they loved the product.
So to get back to the basics – how do you utilize all our tools to your advantage and turn your hard work into the most money you could make? How do you properly allocate your budgets and look at the stats? If you do it right you can potentially make a very nice side or even full income! If you do it wrong you may end up losing. So that is why we are here – the more money you make, the more you will use Podify, and that is totally our interest. If you win, we win. And we want you to win.
Use this basic formula and adjust your goals as necessary:
Total revenue: the amount of total sales your store generated
Transaction fees: the % that PayPal, your credit card processor, or platform take per each sale
COGS: the cost you pay your suppliers (in this case, Podify)
Marketing costs: the price you pay to advance your products, whether it’s Facebook, Google, SEO links, e-mail marketing, or any of the 100s of ways you can market your product
Business costs: Anything else you pay on a regular basis to run your business such as apps, your Shopify subscription, your phone, or anything else that can be attributed to your business
Subtract all this and you get your net profit, hooray!
So to break it down:
minus transaction fees
minus other businesses expenses
= Net profit!
So let’s use an example with real numbers
In 1 month you sold 2 yoga mats a day at $60 a piece, so 60 yoga mats at $60 a piece, so you made $3600 revenue
PayPal takes 3%, so subtract $108
The Podify cost per yoga mat is $39, so $39*60: $1950
You spent $400 on Google Ads and $100 on FaceBook ads for retargeting: $500
Your Shopify subscription costs $29 for the month, plus $70 in other apps and fees: $99
This leaves you with: $943 in your pocket, not bad!
Now what if you sold 3 yoga mats a day? Congrats, your profits increased by more than 50%! Or only 2 yoga mats, but 2 puzzles at $30 a piece, also? That’s an extra $32 a day, or nearly $1000 a month!
Of course, this is easier said than done. If it was that easy, everyone would do it, and we will be honest with you – it’s not as easy as we make it sound.
But it is totally possible. Find the niches where you can stand out whether it is advertising in a different language, trying a new channel, offering a unique pre designed product, or just doing a better job with your conversion rates and remarketing than your competitors.
Podify gives you all the tools to sell a unique, attractive product that is delivered fast and securely so all you need to worry about is driving traffic.
We hope you will be our next successful case study. We are always eager to know how we can help you succeed.