1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

What percentage of people buy?

Discussion in 'Making Money' started by nejxis, Sep 19, 2016.

  1. nejxis

    nejxis Junior Member

    Joined:
    Sep 8, 2015
    Messages:
    138
    Likes Received:
    9
    So i am currently in a dilemma of how much money i could possibly make using social media.

    Let's take Instagram as an example:

    Let's just say I have 5 accounts with 50K Followers on each and I get 500 Likes per post (1% engagement rate)

    From a total of 250K people, how much do you think is the selling percentage if you sell an ebook or something worth 20$-50$ (so its not as cheap or as expensive) , in 1 whole year?

    For example is it 1% in a year, meaning 2.5k sales, 0.5% meaning 1250 sales etc etc

    Keep in mind i am not a celebrity.

    all niches would be the same type sort of, so for example they are gaming, but one is for ps4, one is for xbox one is for pc.. etc etc

    or

    they are all motivation & success through luxury items, but one shows cars and yachts, one shows mansions , one dedicated to private jets etc etc
     
  2. acidol2

    acidol2 Supreme Member

    Joined:
    Sep 8, 2011
    Messages:
    1,322
    Likes Received:
    835
    Location:
    My Successful Future
    I'm not sure on Instagram statistics, but the average eCommerce conversion rate is about 2%.

    Granted, you should take that with a grain of salt. I've seen a few business have about 0.5 - 1% for their conversion rates.

    Not a direct answer for your question, but it's something you can base your predicted calculations off of.
     
    • Thanks Thanks x 1
  3. tz4bu

    tz4bu Junior Member

    Joined:
    Jul 19, 2012
    Messages:
    136
    Likes Received:
    12
    It depends on your audience, you can have 1M followers and make 0 sales.
     
  4. nejxis

    nejxis Junior Member

    Joined:
    Sep 8, 2015
    Messages:
    138
    Likes Received:
    9
    oh ok, cheers mate :) just like i thought, i am hoping to get like 250k ppl and spend 1 year trying to sell a product and hope at least 0.5% of people will buy it, that way i can live off passive income :)
    I used instagram as its currently the highest engagement rate from all social media i think

    true, but what is the probablity of you trying to sell a product which is not more than 50$ and you advertise it to 1M people and not even 1 person buys it.. they either want to buy but your audience is broke af or you're really really unlucky :p
     
  5. Visit

    Visit Senior Member

    Joined:
    Mar 11, 2014
    Messages:
    840
    Likes Received:
    305
    Occupation:
    Porn Star
    Location:
    Where that Show The Broen is Located
    Home Page:
    .05%
     
  6. nejxis

    nejxis Junior Member

    Joined:
    Sep 8, 2015
    Messages:
    138
    Likes Received:
    9
    wtf are you being serious? .05% only? that is like 125 people will buy something out of 250,000 in a WHOLE YEAR of advertising? (i am not asking per advert)

    because if that is so, why do companies pay millions in social media ads to get so little back :/ ?
     
  7. tz4bu

    tz4bu Junior Member

    Joined:
    Jul 19, 2012
    Messages:
    136
    Likes Received:
    12
    They target the audience :)
     
  8. nejxis

    nejxis Junior Member

    Joined:
    Sep 8, 2015
    Messages:
    138
    Likes Received:
    9
    yeah, but if people are regularly liking the photos you upload, doesn't it mean that they would be 'targeted' as well? or am i missing something here :/ ?
     
  9. tz4bu

    tz4bu Junior Member

    Joined:
    Jul 19, 2012
    Messages:
    136
    Likes Received:
    12
    Advertisers are targeting their ads to display them to people which are most likely to buy a certain item.
    If you want to sell ebooks you have to get ebook readers followers for example.
     
  10. yakuzaemme

    yakuzaemme Junior Member

    Joined:
    Sep 18, 2016
    Messages:
    114
    Likes Received:
    81
    Gender:
    Male
    Occupation:
    Business owner
    Location:
    Sweden
    No, them liking the pictures is not targeted per se. If you own a travel Instagram, and they all engage with beautiful photos of the world - and you start promoting a book about gaming; it wouldn't convert at all.
    If however your page is about lifehacks in the kitchen, and you start promoting kitchen gadgets - then of course it'll convert. It's all about that the product must fit the audience.
     
  11. nejxis

    nejxis Junior Member

    Joined:
    Sep 8, 2015
    Messages:
    138
    Likes Received:
    9
    i see.. but idk if that is has to be the case, because people usually want to improve their life with minimal risk / money spent etc, meaning if they are following a luxury page with super cars, yachts, mansions etc. you can probably sell them an ebook on how to make 100k/year or something and be able to afford that new Audi - but most of the people liking etc won't ever buy a book themselves unless someone specifically recommended it and tells them that it would work

    not sure if you get my point?

    i get what you mean, but what if for example you own a travel channel and start promoting a book on how you can become a Professional traveler, or make passive income from travelling or something like that, then wouldn't that sell?

    because in my mind, if i am highly enthusiastic about travelling the world, then i would love to be able to do it, while making money instead of spending it on the holiday
    or if i am into gaming, i would love to make money from gaming rather than see gaming as a waste of precious time where i could do money instead.

    and i think this applies to all niches - if you like food, super cars, mansions, tattoos etc you would simply love it to make an online income from posting information, motivation, photos or videos

    or am i just judging everything wrong?
     
  12. nejxis

    nejxis Junior Member

    Joined:
    Sep 8, 2015
    Messages:
    138
    Likes Received:
    9
    btw, I came across a youtube video about some online fitness scammer (he used photoshop to appear bigger and leaner lol) which has 1.6Million followers and he sells tailor made workouts etc for a minimum of 200$ and goes up to like 500$ or whatever and according to his former employee he was selling 300-400 per MONTH which is over 0.2% in a year.

    But wouldn't that number be like 10 times more than that if instead of 200$-500$ the prices would be 20$-50$ ? (sure you would make probably the same amount of money in 1 year, but i am talking about conversion rate - which his employeee said he made 1million in 10months)

     
  13. uristjack

    uristjack Junior Member

    Joined:
    Feb 26, 2015
    Messages:
    170
    Likes Received:
    87
    Gender:
    Male
    Occupation:
    Organ Dealer
    Location:
    Pleasure Island
    Yeah, like the others have said, it depends - targeting, etc.
     
  14. islandman1010

    islandman1010 Elite Member

    Joined:
    May 10, 2008
    Messages:
    1,723
    Likes Received:
    245
    That's your dilemma there. You have no concrete business plan or even test results and you are asking for figures/% of what you could make. People here can give you a million different answers all based on their own experiences and niches. Nobody knows your product or the quality of it or your skills but you will look for an answer that fits how much you want to make and ignore an answer you don't really like. It doesn't work that way. You have to make a plan, test and experiment, fail, tweak, fail, experiment.. and then someway down the line you will crack it. Not trying to sound harsh but you cant make your plan by getting figures from other peoples success or failures. Make your plan and go for it!
     
  15. nejxis

    nejxis Junior Member

    Joined:
    Sep 8, 2015
    Messages:
    138
    Likes Received:
    9
    kinda knew that a little bit more detail or experience would have helped me more though, but thanks anyway :)

    Well my business plan is pretty simple to be honest which is to gain followers in a luxury/motivation niche until i reach around 250K followers in my network and at that point i will either create a small product - phone covers, wrist bands or actually write a small book on making online income or else create a website with a subscription basis or something like that

    The problem with testing and experimenting is that it would require money or time, and sometimes both to experiment certain things to see which things work and which won't - and that is what i will do when i hit the 250K follower mark, but as of right now with only around 50K followers, i can't invest time & money into creating a website to get subscriptions or spending the time to create a book, or order like 100 custom phone covers to be sold, when i know that new phones are going to come out by the time i hit my 250k target..

    btw don't worry about harsh :p I am accustomed to harshness - in a sense that all ppl around me discourage my ideas into making a living online and only believe the 'get a safe/secure job and save money for when you retire' mentality
     
  16. Startrick

    Startrick Junior Member

    Joined:
    Jul 16, 2016
    Messages:
    101
    Likes Received:
    48
     
  17. knowing25

    knowing25 Elite Member

    Joined:
    Jan 1, 2014
    Messages:
    1,689
    Likes Received:
    485
    Gender:
    Male
    Occupation:
    Entrepreneur
    Home Page:
    You can not predict how percentage of people will buy, no one know until you give it a try by yourself
     
  18. islandman1010

    islandman1010 Elite Member

    Joined:
    May 10, 2008
    Messages:
    1,723
    Likes Received:
    245
    Maybe harsh was the wrong word. It's just the way here we use it. It's used to not appear to be knocking someone down. I would totally encourage you to not go for the safe/secure job and try to be an online entrepreneur at every opportunity you can. One of the biggest parts of IM is failing. I have done it lots of times and you have to test and experiment. It is the one thing you must do above all others. Even if you tested and sold 1 phone cover then you will begin to know if you are on to a winner and is IG the right platform etc. If everyone here said IG converts at 2% or whatever would you trust that to go full on into it? There are too many variables from people that have flopped on IG to people that have cracked it. Only you can find the answer. Go for it!
     
  19. MisterF

    MisterF Jr. VIP Jr. VIP

    Joined:
    Nov 29, 2009
    Messages:
    7,160
    Likes Received:
    5,637
    Occupation:
    Conference Organiser, Business Advisor.,
    Location:
    JADIP
    Home Page:
    I answered something very similar in a group earlier today.
    This is like a ' how long is piece of string' question.

    You'll get a better conversion rate at Easter to sell Easter Eggs.
    You'll get better conversion in summer to sell sun cream.

    Paid adverts - Don't try to sell skydiving holidays to aged 80+ Don't target 20-30 year olds for zimmer frames.

    Common sense needs to be applied too.

    What you need to do is test, test, tweak and seek what works best - then scale it up.
     
  20. nejxis

    nejxis Junior Member

    Joined:
    Sep 8, 2015
    Messages:
    138
    Likes Received:
    9
    @Startrick
    Cheers mate :)

    yup, right about that haha but i like learning from other people's experiences nonetheless ;)

    haha yeah you're right but getting an average idea wouldn't be bad imo. for example if i asked 1000 people their average conversion is 5% and mine would be 1% conversion, i know i am probably doing something wrong and not the platform doesn't allow for more, so i would have to change the product or the target audience or both.

    i don't remember where i heard this but someone said that you can do 50% more profit than last year's in your niche and you think you did great, but if your competitors are having an increase of 300% , than actually you're doing something bad. - so that is why i ask, to know where i stand

    thanks a lot for your input mate, really appreciate it :)

    true true, but i am probably gonna start with selling evergreen sales not event specific sales.

    just like i said to islandman - knowing where you stand alone doesn't mean you're doing everything right, so getting an idea of what the other companies/brands/competitors are doing would help loads