We had another big month in April making it the first time we’ve hit $2k revenue in consecutive months.
While it might seem like we’re doing well as a business, we’re actually not doing all that well. Let’s take a closer look at the reasons why…
Website Traffic for April 2017
Our Google Analytics ‘Audience Overview’ for April looks like this:
Data from the image is as follows:
- Sessions: 29,727
- Users: 24,695 (unique visitors)
- Page Views: 45,336
- Avg. Session Duration: 00:01:36
- Bounce Rate: 77.42%
While we received more awards and accolades for our work in promoting sustainable living in April, this hasn’t paid dividends financially and neither has it generated website traffic comparable to that which we receive from Instagram even.
Nevertheless, our traffic results were nothing to be upset about; just falling short of the 25,000 unique visitors mark for the month of April, this is a brilliant result.
However my celebration was short lived. Other metrics didn’t do so well such as time on site which dropped from 1:45 in March to 1:36 in April.
I can only conclude that this is the result of the giveaways we ran in April which attracted a lower quality of visitors. It is common knowledge that giveaways attract people that only care to win a contest and aren’t as engaged as other visitors who are seeking informative content to consume.
Now as I mentioned earlier, we had a wonderful month in terms of income, earning around $2k.
Let’s break it down even further. Here is what this sustainability platform earned (not necessarily paid) off of each income stream in April ($AUD):
- Google Adsense: $69.06
- Amazon Associates: $168.55
- Skimlinks: $57.04
- Linkshare: $15.73
- Share-A-Sale: $0.67
- Other Affiliate Programs: $54.22
- Sponsored Post/Paid Guest Posts: $1,246.92
- Patreon Pledges/Reader Donations: $414.13
Total Income: $2,026.32
Note: There may be exchange rate discrepancies when I convert USD to AUD as I calculate what has been earned in the month rather than what has been paid in the month. Also, exchange rates used by each platform may vary.
A positive outcome considering that in January our revenue was a measly $116.31. However, revenue can be an optical illusion because even if you’re being paid for products and services, that’s just one part of the financial equation. You need to consider your business expenses too.
And if you’re outgoings are higher than your incomings, you have a huge problem.
And this was precisely the problem we faced in April.
Here are the expenses and costs* we incurred for April:
- Software: $159.60
- People: $1,710.06
- Office: $346.73
Total Expenses: $2,216.39
*Note: Rough estimates as the operating costs are divided between our other businesses as well.
So how come our expenses blew out this month, when just two months ago we laid-off a staff member in order to reduce costs?
There are two reasons for this.
First off, we had to pay one of our skilled contractors a lump sum payment for her work. The other reason is that I had to get some help to be able to create our Fashion Revolution #haulternative series of films which meant that EWP ‘borrowed’ a staff resource from our other business – and was required to cover the employee’s wage in so doing.
So in April – factoring in income and expenses – Eco Warrior Princess recorded a loss of $190.07.
Not a huge amount by any means, but for me, a disappointing result considering that we achieved a net income of $738.56 in March. It’s annoying to be ‘in the red’ again just a month later, considering our plans for the site to be financially sustainable as quickly as possible.
But it’s not all doom and gloom.
This result just makes me more determined to keep a closer eye on outgoings and drive sales even more. I am determined not to record a loss for the remainder of the year.
It’s at this point I should also give gratitude to the Patreon support we continue to receive because although it in no way comes close to covering even half of our costs, something is better than nothing. Plus when it all gets too much, I at least find solace in the knowledge that some of our readers value our work and are happy to donate to keep EWP going.
Furthermore, now that our affiliate links are in place, I will make concerted efforts to tweak our affiliate marketing efforts for maximum results. By actively managing this revenue stream, I’m confident it will improve in the second half of 2017 and help to improve our bottom line.
Email Subscriber Stats
Our total number of email subscribers for April:
- New Subscribers: 612
- Existing Subscribers: 3,351
- Total Subscribers: 3,963
I’m a little apprehensive about giveaways and the poor quality of subscribers it attracts to our email list. Giveaways almost always dilutes the community with individuals who don’t care as much to be there, and only want ‘free’ stuff. Plus this low quality of subscriber also impacts email marketing performance.
We rarely hosted giveaways in 2016 and email marketing performance was impressive with open rates of about 25-27% and click rates at about 5-7%. Now after several giveaways just in the past couple of months, our open rate has dropped to 24.5% and our click rate is now sitting at 4.9%. I’m not happy that it’s declining but if it continues, will need to strategise how to stop the haemorrhage. Can you tell I care about quality and not quantity?
When I review the business goals I had written down in my organiser (“Hit $2,000 revenue by May, achieve $3,000 by July”), I can see that Eco Warrior Princess is on track to achieve these. But since I am what people would describe as an A-type overachiever, I am not content to just break even. I want to make enough profit so I can at least grow the business, expand the team further so we can get the sustainability message out to more people in more countries.
Plus I want to be able to draw a wage. Surely that’s not too much to ask in return for the countless hours and almost seven years I’ve spent on this site?
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