This is the second edition of our transparency report (here’s the first one). I’m publishing it monthly to let you know what’s been going on inside CodeinWP business-wise and what were some of the most interesting goings-on of the last 30 days. The goal of this whole thing is to be transparent and honest with you about the way we’re doing business, plus some of the ups and downs of our journey.
Edited by Karol K.
Revenue breakdown (Mar 1st – Apr 1st)
Last time, I shared our revenue all the way from Jan 1st 2013 to Mar 1st 2015. Today, let’s look at what was going on between Mar 1st and Apr 1st:
As you can see, we’ve passed the $60k / month mark, which is an 85 percent increase over the last month. Interestingly, roughly 50 percent of this revenue comes from just one product (premium theme).
Neat article. Love the transparency. Just makes me trust you guys more.
On the advertising, I’m taking a class from Internet Business Mastery that goes into funnels in depth. Their main philosophy is you use the advertising to see if you can get them to take some useful content for free. Once they do that, they are on a custom autoresponder that upsells to a low priced product – less than $10 for example – that is the next step to the free content. This entire chain’s purpose is to identify CUSTOMERs and not time-wasters who only want free stuff and do not value your time. Their goal is to simply break-even on this chain – or keep from spending much on advertising. Once they purchase the $10 product, then you can upsell them to a premium product – $35-45 or much much higher. They are seeing good results doing this.
I personally have not been successful at doing this – you are doing way better than me with your business – but I thought I would pass along the philosophy at least.
Cheers,Marlan
Sounds like a great idea! We are looking to develop a marketing automation plan this year, however we have just something basic in place for now 🙂
This is absolutely amazing 😀 I think the A/B testing section will really help others in a similar market see the benefits of doing that, especially after seeing how much your sales improved after a few tweaks.
Glad you have found it useful Ariel.
How do you make money with Zerif Pro if it’s a free theme?
Is not a free theme Zerif Pro, Zerif Lite is free.
Ah, I see, I’ve not used it. I’m guessing the pro version offers something the lite one doesn’t. Have you looked into how much you lose through piracy? Or nulled themes. Quite apt, given your pirate branding…
Bravo Ionut, Super Tare Frate 🙂
Mersi! Nu am pus totusi cheltuielile 🙂
Thanks for sharing all this – very informative.
Interesting to read about the power of testimonials.
Good luck for next month.
Joe
Thanks Joe! I am glad you have found it useful.
Great results, Ionut.
Congratulations!
You guys have such nice products, you deserve to keep growing!
To a even more successful future! 🙂
Thanks Erik!
Pretty impressive growth, I must say. Keep posting such transparency reports. By the way, what are you using to buld these reports? Is it EDD?
thanks Ahmad! Is Mixpanel
Awesome. I love seeing these kind of reports!
Your growth is awesome and you clearly have great things to come!
Thank you for including the A/B tests. The insights that data can reveal are just awesome. What are you using for the split tests?
Thanks Pippin! I am using visualwebsiteoptimizer.com for A/B tests and it works fine, using their visual editor I can easily and ‘dirty’ test how users react to different prices / offerings.
Another big test + survey that I did was for increasing the initial average basket ( for a better affiliate earning and adwords/advertising ROI ) and by proposing a 2 years license for treasure chest we had another 300% increase on that package .