I only have two (ambitious) goals for Failory in 2021:
- Grow revenue to $10k/month (currently at $2k-$3k).
- Grow organic traffic to 150k users per month (currently at 50k).
In previous years, I'd set up goals for each section of Failory's business.
But this had some issues:
- I worked on projects thinking they'd help me achieve some of the goals, but not one in particular.
- I didn't know which of the goals were more important.
- They were hard to remember → I didn't really take them into consideration at the moment of taking business decisions.
This year's goals make me feel much more motivated and, since setting them, I've been only working on the things that move me forward to achieve them.
Moreover, both of the goals are connected. If organic traffic grows, revenue grows (as part of it comes from sponsorships, which pay more if there see more ad impressions and clicks). At the same time, if revenue grows, I can re-invest in content creation and therefore increase organic traffic.
Let me go over each of these two goals.
1. Revenue → $10k/mo
I've always struggled to monetize Failory.
I've always priced our advertisement packages lower than competitors with similar or lower levels of traffic, I've done almost no sales outreach to get sponsors, I've never negotiated better commissions with affiliates, and the list goes on.
However, in the last months of 2020 (particularly as Dru Riley, founder of Trends, began consulting me), I started to see a clearer path to monetize Failory's traffic and newsletter, which consisted mainly in selling digital products we would create.
In November we created and launched Failory's first info product, which was an eBook about product-market fit. It performed really well, bringing +$3k in sales and a ton of positive feedback about it.
That made me make the mindset shift from being focused on growth to being focused on monetization. Before that, I kept thinking that Failory's audience was too small in order to monetize it by selling them products and that I only had to focus on growing the traffic. The eBook success made me realize Failory already had an audience of people willing to pay for our content.
I plan to grow Failory's revenue to $10k/mo mainly by creating and selling more digital products. Not only eBooks, but maybe video courses, online events, etc.
I'll keep sponsoring companies and placing affiliate links, but I hope to reduce the percentage of the total income that these two sources mean for Failory.
2. Organic traffic → 150k users/mo
I don't care much about traffic. But I do about the organic one.
Failory's organic traffic has been quite steady for the last year, at around 40k-50k users per month coming from Google. This year, I aim to triple that figure.
The reason why I'm so focused in organic traffic is that it's super consistent over time. Once an article starts ranking for various keywords, it'll probably keep bringing traffic for many months, almost without any more work put into it.
At the same time, organic traffic converts well into email subscribers (at least for Failory) and those email subscribers can then become customers of our digital products.
Nowadays, most of Failory's organic traffic arrives to one article. That's something I'll be 100% focused in changing as it's super risky.
Most of my daily writings will probably be around my SEO and content experiments, but I won't share any more details today ;)
Date: February 6