What Would You Do With A Website That's Earning $500 A Month?

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I just wanted to have some opinions from WA members. It doesn't matter if you're a newbie or a seasoned WA member.

So, my website is projected to hit $500 this or next month, and I believe it's only at 10-20% of earning potential.

As I'm also making decent amount as a freelancer, I will be reinvesting the additional earning from the website.

Question is, should I

A) Invest in more content for the existing website, which is promoting product that's between $20-$50.

Pros - income will continue to grow at a predictable rate.

Cons - earning per sales is relatively small.

B) Focus on new website targeting higher-priced products $100-$300.

Pros - website targeting on higher price product.

Cons - It takes at least 6 months for the site to really rank. And earning from website may slow down.

The thought of having a website with higher priced item is enticing, but I have a feeling it's a bad move.

What's your thoughts?

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Recent Comments

28

Mmm, I happen to agree with Kenny and Ian, seems the logical way to go :0

Yeah. I guess it's important not to let greed triumph over logic.

Have you considered using the $500 to pay some freelance writers? that way, you can focus on building a new website without slowing production of content to your first website. If you pay for say, 2- 3 thousand word posts per week, your monthly income will continue to increase, but the cost for freelancers never has to.

Yes, i'm actually letting off some of the articles to some freelance writers. But I'm not in the position to work on 2 websites right now. I guess I'll just focus on my first site first.

Kenny Ian is right!, You should keep your current site and put the money into more content. Once a site has begun making money you will be surprised at how quickly it multiples when you continue to build it.

- Glen B

Kenny,

Another thing is that you could find a way to collect leads on your current site. This way you can add additional products in the same niche and then promote to the list.

A simple lead magnet would work for this. For example if you were in the golf niche you could offer "The 10 most important things to help your Golf Swing". Having a list can multiply your income many times. People are sometimes too busy and don't have time to buy at that moment. A simple reminder could exponentially increase your income.

- Glen B

Hi Glen,

I haven't thought of trying out an email list. Yes. I've overlooked that. Thanks for reminding.

Glad to Help!

Just research the statistics on how many people actually take action on the first exposure to an offer. Then research the conversions when you use email marketing.

You are going to be really surprised.

Also so many think that email marketing is spamming. It's not when done correctly. You don't slam your list with offer after offer. You give them good information and casually lead them back to your offer.

Hope this helps,
- Glen B

Thanks. I'll try it out soon.

Be sure to let us know how it works out for you!

- Glen B

Hey Kenny - I think you've answered your own question :-)

You can't stop developing your original site if it's not hit its potential because a) if you sold it you'd not get its true value, and b) you'll make more monthly passive income if youkeep it!

$100-300 is a great price poiint. However, you can't assume that if you're getting, say, 100 sales a month with your current site that you'd get 100 with higher-priced items. OIf course, you won't need so many but the point is you may not make any more money. I'm sure someone who's an expert on high-ticket items will be along soon :-)

If you want to explore higher-priced items, you could start the site and build it slowly but concentrate on developing your existing site. When the new site is 6 months old you could look at the situation again and by then it would already have a good start.

Ian

Hi Ian,

I guess it's a matter of common sense vs temptation of high priced items for me.

This makes everything clear.

Thanks.

Great!

Let's know how you're progressing.
Ian

I would keep the site keep growing it. Then when you feel you are st a nice rate per month start focusing on the higher product range on another site.

Or even better find products that are in that same niche that are worth more money and promote them in this site.

Thanks for the suggestion. There are limited high priced products in my current niche, except I expanded horizontally.

Anyway, I get your point of not stopping the growth of the current site. Thanks.

Find a few upsell items which add more value to your existing products. Once they purchase one product they can then be offered more products that add even more value. You already have an idea what they are interested if they purchase. Create a funnel with low ticket items, mid-range and high ticket products. Your bread and butter may be $20-50 products, but if they get good value. Who says that they won't be interested in $100, $200 and even $500 products. You don't have to sell as many high and mid-ticket products to make it worthwhile. You can incorporate it into the same website rather than take time to build traffic to a new site.

I'm having an Amazon niche site. But I suppose I can go in that direction that you suggested.

Stick to what is working and stay focused on that. Adding some higher priced items is also a good idea. Especially if they are in the same niche to what you are already selling.

Yes I agree good points.

I would stick with your current site for now. It is easier to grow a site from $500 to a couple of thousands than it is to start from scratch.

And then you can always reevaluate later.

Thank you. Let's not have greed overshadow wisdom.

If you believe you're only at 10-20% of the earning potential, I'd stick with that site and put all your energy and resources there.

When you get that site to earning a few thousand dollars a month, you could always think about starting a second website. But if I were you, I'd want to know how far I'd get with the first one.

Great advice. I've structured that site so that I could always expand horizontally, and I would be curious about its limit.

But starting a 2nd site which has greater earning potential with lesser content is tempting.

I guess starting a 2nd site after a few thousand dollars a month is a good idea.

You can sell...

Well, that's a good option. But I will feel insecure without a passive income stream.

I'd go with option A

As you said: your site is only at 10-20% of earning potential ...

I have the same idea before greed took over me.

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