laurafor
12-17-2009, 06:49 PM
Hi, I'm Laura. This is my first post and I'm excited to share with this community. :)
I've just finished testing and researching my first muse idea and want to share the numbers wtih you. I see kernals of potential but would like your feedback.
Muse: Niche Ornament Set
I ended the eBay Auction (1 day before finish but you can end it up to 12 hours before. Do that here http://offer.ebay.com/ws/eBayISAPI.dll?EndingMyAuction&guest=1) and got some solid bids.
Here's the breakdown
Bid increased from minimum I set by 100% or from $14.99 to $29.99
People were okay with the $4.99 shipping (it should be cheaper than that)
5 people watched the auction
6 bids by 5 different people.
I'm the only one selling this exact product (great!)
eBay Test Learnings:
Lets say I didn't end the auction early and bidding increase from $29.99 to a final price of $32. Subtracting the wholesale price of this item I'd end up netting $20 from the sale plus about a buck from shipping = $21. This is suprisingly higher than I thought this product would win, so, even though it's a relatively low priced muse product I'm happy to discover a proven demand! Hey, gotta start somewhere!
Drawbacks:
Is $21 really worth the eBay hassles? (Yes, I realize I want to outsource listing and dropshipping eventually)
Highly seasonal product (I'm okay with that, this will be my "holiday muse" each year)
Low margin product
Other Keyword Research
This product gets about 15K searches/month year round which IS NOT much. 60K in peak season. However, I'm fairly skilled at natural search (free!) so may be able to get my product on the first results page after a bit of work. If I can, do you still think it's worth it given the $21 net in revenue? I'd personally be happy if I get 5 orders a month but part of me knows that violates the "automation" principles of a muse and would make me a semi-slave to this thing. The other part of me is willing to do that for $100/month...I think?
One question about creating a "testimonial" marketing page as Tim suggests. Is that in addition to your e-commerce site, or as a part of it? A bit confused as there's not a lot of detail in the book.
So...what would YOU do? :confused: Continue developing this low netting muse even though there's some proven demand for it, it's easy enough to ship myself, and assuming you could win free search traffic through natural search? OR would you dump it and look for a higher netting product?
Thanks!
I've just finished testing and researching my first muse idea and want to share the numbers wtih you. I see kernals of potential but would like your feedback.
Muse: Niche Ornament Set
I ended the eBay Auction (1 day before finish but you can end it up to 12 hours before. Do that here http://offer.ebay.com/ws/eBayISAPI.dll?EndingMyAuction&guest=1) and got some solid bids.
Here's the breakdown
Bid increased from minimum I set by 100% or from $14.99 to $29.99
People were okay with the $4.99 shipping (it should be cheaper than that)
5 people watched the auction
6 bids by 5 different people.
I'm the only one selling this exact product (great!)
eBay Test Learnings:
Lets say I didn't end the auction early and bidding increase from $29.99 to a final price of $32. Subtracting the wholesale price of this item I'd end up netting $20 from the sale plus about a buck from shipping = $21. This is suprisingly higher than I thought this product would win, so, even though it's a relatively low priced muse product I'm happy to discover a proven demand! Hey, gotta start somewhere!
Drawbacks:
Is $21 really worth the eBay hassles? (Yes, I realize I want to outsource listing and dropshipping eventually)
Highly seasonal product (I'm okay with that, this will be my "holiday muse" each year)
Low margin product
Other Keyword Research
This product gets about 15K searches/month year round which IS NOT much. 60K in peak season. However, I'm fairly skilled at natural search (free!) so may be able to get my product on the first results page after a bit of work. If I can, do you still think it's worth it given the $21 net in revenue? I'd personally be happy if I get 5 orders a month but part of me knows that violates the "automation" principles of a muse and would make me a semi-slave to this thing. The other part of me is willing to do that for $100/month...I think?
One question about creating a "testimonial" marketing page as Tim suggests. Is that in addition to your e-commerce site, or as a part of it? A bit confused as there's not a lot of detail in the book.
So...what would YOU do? :confused: Continue developing this low netting muse even though there's some proven demand for it, it's easy enough to ship myself, and assuming you could win free search traffic through natural search? OR would you dump it and look for a higher netting product?
Thanks!