Single Physical Product - $30k in Sales

[dezign89]

I started selling a single product Oct '17 and have made over $30k to date. It's a unique product that I designed and had manufactured. Our cost is around $6-7per piece and we retail it at $24-$32. We have good search engine rankings, the problem is it's a product most people don't know exists and somewhat of a novelty. Most of our sales come from organic traffic or other sites promoting or doing articles on us.

I've been thinking of ways to scale. We've been discussing and in discussion with venture capital companies, business accelerators, offering white label services for larger companies, partnership and retail distribution, increasing our affiliates via CB or others, wholesaling, focusing on only direct to consumer...etc.

We're not making a fortune but the potential is there and we can/are expanding our product line to more than a single product. I just don't know where to focus my energy. Part of me is getting burnt out just because I feel like I'm running in a million different directions. I guess I'm looking to see if anyone has been in a similar position?

 

[plottsch]

What's the product?

 

[dezign89]

I don't want to mention the actual product publicly.

 

[Sristy]

What niche it is?

 

[dezign89]

It's travel related

 

[Deleted member 719276]

My main niche of authority IG accounts is travel related and I get contacted on a daily basis with people asking me to promote their travel related products that I've never seen before. Some of this sh*t is pretty unique and it gives me some solid ideas btw. If I were you I'd go for a well and sexy planned social media promotion OP

and no please don't contact me, I'm just sharing my opinion.

 

[dezign89]

Thanks Neon. We did do some initial social media campaigns which performed pretty well. Maybe just like you said, simplify and focus on a great social campaign. At least my efforts would be focused.

 

[dpdpdp]

Yeah why not go for clickbank affiliates or pay for ads? You pay some and earn some more.

 

[AryabhattZero]

Thanks Neon. We did do some initial social media campaigns which performed pretty well. Maybe just like you said, simplify and focus on a great social campaign. At least my efforts would be focused.

Contact some active Insta accs and buy shoutouts. Monitor the traffic. Run FB ads. Monitor the traffic.

Choose what's right.

 

[ZhangWei100]

Gotta hire out some people, start scaling up and build a real business. Then sell it. Business be worth much more if you are not the person it relys on.

 

[DigitalCity]

Try to audition to get your biz and product on shark tank you don't even need a deal from them any longer just getting the item seen on TV now blows up any product that gets seen on the show.

 

[Indigo Junior]

Maybe you could try to get an with an affiliate program (if you have the ability to track affiliate sales on your site). You usually give affiliates 7%-10% of the sale price. This would increase your sale numbers dramatically, granted you would have an extra expense of $3-$5 for each sale for the affiliate cost. But the traffic numbers would improve greatly! Good luck to you!