High Level Analysis Document: YoY Q1 & Q2 Revenue and % growth rate.
Amazon:
2022 Q1: $121,839.88
2023 Q1: $214,133.38
Growth Rate: (214,133.38-121,839.88)/121,839.88=75.8%
2022 Q2: $136,790.45
2023 Q2: $268,275.19
Growth Rate: (268,275.19-136,790.45)/136,790.45=96.1%
2023 Q1 & Q2 Growth Rate: about 80%
Etsy:
2022 Q1: $78,427.43
2023 Q1: $66,355.64
Growth Rate: (66,355.64-78,427.43)/78,427.43=-15.4%
2022 Q2: $73,474.61
2023 Q2: $55,473.80
Growth Rate: (55,473.80-73,474.61)/73,474.61=-24.5%
2023 Q1 & Q2 Growth Rate: about -20%
Shopify:
2022 Q1: $66,161.39
2023 Q1: $114,653.78
Growth Rate: 73%
2022 Q2: $80,483.89
2023 Q2: $117,841.30
Growth Rate: 46%
2023 Q1 & Q2 Growth Rate: about 60%
Overall:
2022 Q1: $(121,839.88+78,427.43+66,161.39)=$266428.7
2023 Q1: $(214,133.38+66,355.64+114,653.78)=$395,142.8
Growth Rate: (395142.8-266428.7)/266428.7=48.3%
2022 Q2: $(136,790.45+73,474.61+80,483.89)=$290748.95
2023 Q2: $(268,275.19+55,473.80+117,841.30)=$441,590.29
Growth Rate: =(441590.29-290748.95)/290748.95=51.9%
2022 Q1 & Q2 Revenue: $266428.7+$290748.95=$557177.65
2023 Q1 & Q2 Revenue: $395,142.8+$441,590.29=$836,733.09
Q1 & Q2 Growth Rate: (836,733.09-557177.65)/557177.65=50.2%
Any YoY stats that matter to your business. (For CA: Average CAC, CAC Payback Period, Average Order Value, Gross Margin, CAC:LTV ratio, Churn rate)
2022 Q3 & Q4 Revenue:
Amazon: $446,180.94
Etsy: $162,059.70
Shopify: $193,532.14 (Q3: 92,227.52, Q4: 101,304.62)
Total: 446,180.94+162,059.70+193,532.14=801772.78
2022 Revenue:557177.65 + 801772.78= $1,358,950.43
557177.65/1,358,950.43=41%
Update as of July 29:
Q1 and Q2 run rate is $1.67M.
Our last 30 days run rate is $2.054M!
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Biggest actions I can take:
Well, the biggest contributor of growth the past 30 days:
1. Shopify: launching Royal Gardens collection by sending out an email ($2K), and another email about bevel rings having more sizes in stock ($1k), and another email about Royal Gardens D6 ($0.5K) in the span of 3 weeks (3 weekly emails). Meta ads have been performing better the past 3 weeks ever since Aman started being more on top of it. Google Ads are more scalable (ROAS dropped, and we are spending more, but we are also making slightly more)
2. Amazon: FBA restock most likely is the contributing factor. Also Stack Influence boosting traffic. Also, more ad spend.
3. Etsy: launching Royal Gardens, 7 new listings every few days, may have helped.
We need something scalable in terms of reach and in terms of fulfillment.
Ideas:
- Reach: influencer collaborations
- Reach: better ad content (which we can get from influencers, or making videos in-house, and maybe from Savanah Social making TT videos for us)
- Fulfillment: More FBA items. Bevel with greek pattern inside.
- Fulfilment: Get Udoo to make gold fill items if they are up for it.
What successful outcome looks like:
- Digital Marketer to manage our social media content, outreach, email marketing
- VA to help with outreach (Most likely have Yana do it, and have her delegate her easier tasks to Faroo)
- Scale Google Ads. Currently at $3550, can keep building up as long as it’s >3 ROAS. If we do a 20% budget increase every week, it only take 1 month to double our ad spend. But so far I’m skeptical of the ROAS reporting.
- Scale Meta Ads. Currently at $4.7K, ROAS is closer to 3 now so that’s good.
- Add Bing and DuckDuckGo ads.
- Currently spending $30K/m on Amazon ads, with 60% ACoS and around 30% TACoS. That’s 1.67 ROAS and 3 blended ROAS. Really want to improve these numbers so we can scale. The best way is to add more FBA inventory. Need to look at what’s winning and send more in. Create more pink rings. Create more packs of cheap rings.
- Wow, Etsy is down to 2 ROAS the past 30 days, and we spent $3600 on ads!
- Based on past 30 days, total we spent $43K on ads. That’s $516K per year. That’s 3.98 ROAS. That’s us spending 25.1% of our revenue on ads.
- Currently, the best ROAS is Email, then Google ads, then Meta, then Etsy, then Amazon.
- Currently, the highest ad revenue is Amazon ($51K), Google ads ($18.2K), Meta ads ($11.56K), Etsy ($7584), Email ($3.5K)
- Highest spend: Amazon ($30k), Meta ($4.7K), Etsy ($3.6K), Google ads ($3.55k), Email ($400 for Mailchimp and Marketsy)
- Profit from each: Amazon ($20K-$4K from Amazon commission = $16K, and even less if we include AO2 fees), Google ($14.6K), Meta ($7K, and really $5.5K after AO2 fees), Etsy ($3.9K), Email ($3.1K)
- Definitely double down on Google ads and Email.
Small things we can do:
Etsy:
- Improve Etsy listings by adding cross promo images (e.g. Royal Gardens)
- Improve Etsy listings by giving more colour selection options (A/B test for best drop down list, add image that shows all available colours, add hints to lead customers to our website e.g. more colours available at knotheory.com)
- Launch more frequently on Etsy
Amazon:
- Add more Amazon FBM listings
- Add A+ to Amazon listings
- Resolve Amazon California issue
- Improve Amazon listings by adding cross promo images (e.g. Royal Gardens)
- Add more FBA inventory
- Add more FBA packs at cheaper prices
- Add testimonial videos to bottom of listing (find a way to do it…maybe fiverr)
- Add more pink rings
Shopify:
- More upsells (very important)
- Email more frequently
- Better ad content
- Landing pages
- SEO – unique product descriptions
- SEO – blog
Other:
- Measure and monitor what is working
- Comment on influencer’s posts
Big things we can do:
- Spend more on ads
- Add new rings such as metal rings – thin ones, engraved ones
- Add ring boxes so we can increase value of our rings
- Add new rings such as the colourful ones
- Add new products such as nails, gym stuff, wallets
- Wholesale
- Aggressively reach out to gift collab with influencers
- Consistently put out engaging videos on TT, YT, and Reels. Or maybe they just have to be simple videos.
- Launch collections based on what will be popular, what is known to be popular, etc.