I could raise my prices further.
currently /$14.99/2 weeks for 4 months
I know for a fact I can do 14.99/2 weeks for 6 months
That's 56 extra, post-VAT that's 45 ish extra
I assume it'll only cause cost per purchase to increase by 10
So that's 35
US store that's 25 ish extra
But if we assume it'll only cause cost per purchase to increase by 5,
Then it's 40 and 30 respectively
Which means I make 60%-100% more per customer
Is the product worth that much?
Jan 27th - Jan 28th:
Ad spend: $1629 Revenue: $21,876 (over 4-month period) ROAS: 13x Cost of goods: $4577 VAT (UK): $3646
Profit (over 4-month period): $13653 ROI: $1 -> $8 (over 4-month period)
US refund/cancellation rate: (1 person) UK refund/cancellation rate: 10.5%
I'll keep my prices where they're at for now. They seem reasonable for the price.
I could do 'Buy 2 for 14.99/2 weeks (6 months)' Or buy 1 get 2 free
Or something etc etc to justify the high price
3-4 hoodies for 200 seems more reasonable
But I'd have to figure out how to split it so front-end profitable
Nah I'll do that later, and instead frame it as 'free hoodie + free t-shirt'
then do /7 months or something
Or maybe not at all since that hurts front-end profits
Ahh I'll just work on SAAS for now. Let the e-com store make money. Then increase ad spend.
Then start testing new products with 14.99/2 week offer.
Really tempted to start testing new products now
But I just don't have enough money atm
I COULD test
At a small scale
I'll wait for Shopify Payments to be approved for the testing USA generic store...
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once it's approved I'll conduct some small scale, 200 ad-spend per product tests