Welcome to The Ways to Wealth’s March 2018 Income Report.
Last report was January of 2018, where TW2W saw a record $11,475.43. In March, TW2W recorded a net income of $6,286.94.
A dip for sure.
But let’s dive into the details.
What Went On In March
There’s a few ways of looking at a 40%+ drop in revenue.
First, is the optimistic side:
- January is when personal finance is at its peak interest, so a drop from January was somewhat expected
- $6,000+ of net income before taxes covers my living expenses and still allows me to save a nice sum each month
- I’m only a bit over a year of seriously developing this site, so I’m extremely grateful to be at this point
- Net income from January to March has me on pace to reach six-figures this year
Another positive spin is that I worked minimally for most of February while in Kauai. March was then spent playing a lot of catch up. A trade I’m happy to make.
Then, there’s the not so positive spin on seeing a 40% drop in income:
- Another drop of 40%+ in revenue would mean my monthly cash flow would go negative
- I like growing
As I’m an optimistic person, I have to force myself to think about the later and it’s important I do. This allows me to develop goals and objectives moving forward.
But overall, I’m focused on how much I love running this site and how grateful I am for each person that spends time here. So, while income may be down for one month, fulfillment is a high.
If you’d like to learn more about building a profitable blog, check out TW2W’s free email course: How To Make Your First $1K Blogging.
What’s Working Now
The Ways to Wealth had 288,256 page views in March. I didn’t believe I’d be bringing in this much traffic, this fast.
What’s working for me is Facebook, Pinterest, and SEO.
Paid Facebook advertising, is a great source of short-term traffic (see resources). Even brand new bloggers can drive serious traffic using Facebook.
Pinterest takes a bit of work but when it does is fantastic. You can see my strategy here.
Then, Google traffic has by far the longest average session duration of any traffic source. The downside is it takes a while to get going. However, after blogging for a bit over a year, I’m starting to see the benefits.
While I can’t calculate the amount of revenue per visitor exactly, my guess would be Google traffic would be worth the most, Pinterest second, and Facebook last.
Related Reading on The Ways to Wealth
- The Insanely Simple Guide To Starting A Successful Money Making Blog In 2018
- 27 Side Income Ideas With Potential To Generate $10K A Month
- 33 Legit Online Jobs Where You Can Earn Over $40,000 Working From Home
Breakdown of Revenue
- MediaVine: $5,739.05
- Affiliate Networks (AdBloom, FlexOffers, MaxBounty, iGain, Panthera, Impact Radius, CJ): $3,606.3
- SurveyJunkie: $1,335.70
- Courses (Proofreading, Freelance Writing, Bookkeeping, Affiliate Marketing): $1,236.15
- Sponsored Posts: $600
- Bluehost: $255
- Rakuten: $245
- Ibotta: $182
- Amazon: $24.39
To fill you in, as I didn’t post an income report for February, this revenue number is similar to last month’s.
Interested in starting a blog? You’ll be happy to know you can get your blog up and running in as little as 10-15 minutes, even if you have no technical experience. Just as important, it’s super cheap. As a reader of The Ways To Wealth, you can setup your blog with Bluehost under $3.00 a month, instead of the regular price of $7.99. You also get a FREE domain name, a $15 value. Plus, there’s a 30-day money back guarantee, if you decide blogging isn’t right for you.
Breakdown of Expenses
- Facebook Advertising: $6,109.16
- Tailwind: $104.74
- Graphic Design: $262.50
- Freelance Writing: $308.25
- Blow Up Your Blog Course: $97
- MailChimp: $45
- BoardBooster: $10
Net Income: $6,286.94
That’s a lot of money right there. Yet, I feel good about the investment.
Spending $6,000+ on Facebook traffic has allowed me to grow the site quickly. What’s nice is I’m seeing a positive ROI, plus adding 30-50 newsletter subscribers a day. In turn, this has allowed me to start approaching brands to partner with and get paid a nice sum for doing so.
I’ve also started outsourcing a few key tasks so I can focus on higher value tasks.
The first being writing content for the blog. I’m testing out speaking blog posts into an audio recorder and having a ghostwriter put it all together. This can save me 15+ hours a week, which is more than 50% of my workweek.
Next, is graphic design. As I discussed in my Pinterest post, I create a lot of new pins to test each month. I’ve found a team down in Argentina who is doing a fantastic job designing Pins for the site. We have the process down now to where I’m sending 10 headlines to them and in a few days, they’re sending back high-quality Pins.
One investment I made was Millennial Money Man’s “Blow Up Your Blog Course“. I’ve tested out some of the strategies in his traffic course and have had success improving my Facebook ads. So, very happy with that purchase and looking forward to diving more into in April.
After a February where I spent the majority of the month traveling, it was nice to get back to work in March.
I spent March doing the daily work that requires a blog to keep growing, e.g. writing content and marketing that content.
But in April and over the next quarter, I plan on tackling some more ambitious projects.
First things first, is getting the site redesigned.
I don’t hate it the current design, as I like the simplicity. However, where the site lacks is in the branding. I’d love for my ideal visitor to come to the site for the first time and think, “This site is exactly for me! Where can I sign up, learn more, read more, etc…”
With a broader title like The Ways to Wealth, I can see where a new visitor might get confused, click back, then never return.
Another area I’m focusing on is SEO. While I’ve been optimizing posts for keywords–I haven’t done the outreach necessary to rank for these keywords.
Only 5% of my traffic comes from SEO. My goal for Q2 is to double the amount of traffic I’m seeing from Google. The plan is to reach out to one reporter, journalist, blogger, etc…a day to build more high-quality links.
If you’re looking to interview a Financial Planner or blogger for your own website–get in touch.
I do have one more big thing in the works–which I’ll be sharing once I have a clearer idea of the timeline.
So, stay tuned.
Recommended Blogging Resources
I launched this blog with Bluehost hosting and used it up until I was getting 100,000 visitors a month. What’s great about Bluehost is they allow someone with no technical experience, to launch their blog in only 10 minutes. See TW2W’s setup tutorial. They also give you a free domain name, plus a 30-day guarantee.
Once the site traffic was more then my Bluehost account could handle, I switched to BigScoots and have been very happy. Where BigScoots excels is speed and service. As I get a lot of traffic from mobile, speed was very important to me. More so, anytime I have a question it’s answered promptly from someone in their Chicago office. It’s more expensive than Bluehost but I definitely recommend making the switch to BigScoots once your getting 100,000 or so monthly page views.
Making Sense of Affiliate Marketing
Making Sense of Affiliate Marketing opened my eyes to the earning potential a personal finance blog can have. It’s creator, Michelle Schroeder-Gardner, runs a 7-figure personal finance blog that’s only a few years old. I can’t recommend this course enough, as it was the catalyst for myself being able to become a full-time blogger.
Monica Louie has put together an excellent course and community on Facebook Advertising with Flourish with Facebook Ads. I credit Facebook Advertising, specifically the lessons I learned from Flourish with Facebook Ads, from getting to the $3,000 or so a month mark to where I am today.