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IM:Mission Possible! 0 - $3k/month in 6 months

Discussion in 'My Journey Discussions' started by elduque, Nov 15, 2014.

  1. elduque

    elduque Newbie

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    I have been inspired to start a journey thread by some of the others in this forum.
    The purpose of the thread is threefold:
    1. To act as a diary/motivation source for me.
    2. To allow others to learn from my successes and failures
    3. To hopefully get some good input from other forum members with more experience than me.

    I'm going to be trying everything feasible to get to where I need to be by May 2015, which is a minimum of $1500/month plus $2k banked, as my situation (job/rent) will be changing then. I am aiming for double that though, as I have an idea for the final stage that should be able to achieve this if implemented properly.

    Background (the negatives):
    My financial situation atm is pretty messed up - I have almost zero bankroll, have a part time job that pays the rent + bills, live with GF who earns enough to cover most of our other living costs. Have a car that needs fixing and no cash windfalls on the horizon.

    Positives:
    I have a small amount of experience building sites with wordpress.
    I have a basic knowledge of php/javascript/python & understand basic SEO.
    I can write decent content / other articles and have good experience in selling.
    GF is a graphic designer.
    I have plenty of free time and am committed to success.
    I have experience in and have researched a couple of niches that I have created sites in and should be able to monetize eventually.
    I have a plan (albeit somewhat thin just now)!
     
  2. elduque

    elduque Newbie

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    The plan:
    Stage 1: Sort out day to day finances & make a few bucks to reinvest.
    GF has a site selling artwork that needs traffic. Only a few sales a week are needed to improve our day to day living and give us a few $s to invest into other small projects. This is most likely to be my quickest way of getting an extra income.

    for some reason the full plan is triggering the forum's moderation system (even after swearing removed!), so will add the rest some time later...
     
  3. im2020

    im2020 Newbie

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    Good luck mate. You have very good stuff here.
    Hope u reach ur target soon
     
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  4. LostConnection

    LostConnection Senior Member

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    You could have wrapped up everything into a single post though, might be what's triggering it, seeing that the three first posts would be yours without not too many views from others.

    And it's overall a rather sensitive tool, so just give it a moment and try again later in a few different words.

    Anyways, good luck with the journey!
     
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  5. White Night

    White Night Power Member

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    better fix your financial statement before come to IM
     
  6. elduque

    elduque Newbie

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    Well my options for doing that outside of internet stuff are pretty limited, for several reasons too complex to go into here...but I understand that IM needs cash investment hence my plan of starting small (increase sales of GF's website with micro-budget advertising) then reinvest elsewhere....
     
  7. elduque

    elduque Newbie

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    Started working on Stage 1 over the weekend.

    First I had to sort out a few issues with my GF's art sales website to get it functioning better, and also added an affiliate link to a site that compliments ours to help monetize it further. Now to get traffic!

    I have decided to try promoting the site via facebook ads on a micro-budget. My main reasons for choosing FB are as follows:
    1. Prospects are likely to buy stuff as an impulse purchase rather than something they are already searching for, so adwords is most likely not the best option.
    2. The products are artwork and need to be seen - so image based ads are a must.
    3. We hope to sell quite a few to fb friends and fb allows ad targeting to give them a nudge in the run up to xmas.

    So, I spent yesterday getting my head around the FB ad system, which seems to me to be less transparent than adwords and I am definitely going to be making some mistakes.

    The first issue I had was that I selected the ad purpose to be "drive clicks to website", which fb then chooses CPM as the most efficient method. To me this seemed wrong as I have no idea yet what my CTR is going to be, so thought CPC seemed a better bet to control costs. So I started out with CPC priced at the bottom of the range suggested, and set it running with the trial ad...

    ...however after some reading up I discovered that according to at least one source, CPC ads are served equally to all users in your target demographic while CPM ads are selectively served to users in the target demographic who are more likely to click the ad based on their historic fb behaviour. Anyone that clicks my ad in either scenario is just as likely to convert on the website, but my CTR will suffer with the CPC model, thus lowering my quality score and increasing CPC at the auction stage. So yesterday evening I decided to switch to CPM. Which is where I ran into....

    ...FB's ridiculous 20% text in image policy!
    ffs, I made sure I had a scan through the T&Cs to see what is allowed in ad images, created a nice ad with about 15% text at the most. It got approved np but when it went for re-approval after I changed the campaign to CPM I got a rejection notice. This is when I found out about their grid tool which is used it seems for judging ad's compliance with the 20% rule. My text overlaps their grid system so although is well under 20% it runs into 6 boxes out of the 25 giving it a 24% text according to FB! Ridiculous..and GF is annoyed after me having told her that all was fine earlier and to make another 6 images for other products!

    Oh well, it should be all fixed later and I will try again!
     
  8. lord1027

    lord1027 Elite Member

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    Good luck on your journey, I'll be following you!
    I'm mostly curious how will the FB ads turn out to work for you.
     
  9. elduque

    elduque Newbie

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    Thanks. FB ads has been quite a steep learning curve so far. I am still getting my head round the best strategy for ROI, but think that the way to go seems to be promoting the FB page then getting clicks from there to the website rather than just using ads to drive direct website traffic. I have been trying a couple fo things out this week, and will be doing more when time allows so will be reporting back at the weekend.....
     
  10. ExecutiveDude

    ExecutiveDude Regular Member

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    Good luck with your journey
    Bookmarked this thread
     
  11. elduque

    elduque Newbie

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    Have been boosting a post overnight with a competition... "..like our page to for a chance to win..." Thought the offer was pretty clear but lo and behold only 7% of post engagements actually liked the page, the other 93% just liked the post! doh!

    lol facebook average iq and lol my marketing skills!

    I guess this is a good lesson in making ads idiot proof - most people cant even be bothered to read one sentence properly - they just see the words "like" "win" then click before getting back to looking at cat pictures....
     
  12. elduque

    elduque Newbie

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    Mission on hold for a while as I have a couple of other projects that have come up. One is IM, one not so much, but hopefully will be able to get things back on track in the New Year with a bigger budget.