Where is the money going?
To be honest with you I’m losing 100s and 1000s of dollars with having to do exchange rate and paying conversion fee on my credit card and to my bank. The profits I make are in US dollars. But at the end of the month when everything is said and done, I end up with way less in Canadian dollars than what it says in my book.
Basically, I have a business account in Canadian dollars. The money I get paid is in US. So every time I go to the bank with my cheque or every time I get a wire, the bank charges me 2.5% fee for currency exchange in CND.
On the other hand, I pay my bills In Canadian dollars. I have a business CC in CND dollars, however I make my payments (everything except for Google Adwords) in US dollars. My CC company charges with 2.5% for currency exchange as well. So every time I get billed in US, I get slapped extra 2.5% on top on the amount charged.
Yahoo is pain in the ass. They don’t have billing in CND dollars. So, I end up paying 2.5% extra when they charge me. They don’t have pre-paid billing either. So, I have to fund my account first to continue running my ads. They require you to have 3x your daily limit budget in your account all the time.
Get everything in USD
For everyone outside of US, you need to open a US banking account, get a credit card in USD and get a new Adwords account in USD. Basically, do everything in US dollars.
I recently opened a new bank account in US dollars, applied for a credit card in USD and opened up a new Adwords account in US$.
Can you change the currency setting in your Adwords account?
Unfortunately, Adwords doesn’t allow that. Once you open an account in one currency, you can’t change it afterward. You will need to open a new account in your preferred currency.
Can I transfer my account history to my new Adwords account?
Again, the answer is No. With a new account you will need to build up history again. However, I must point out that, when you transfer your campaigns to your new account, domain history will automatically be transferred over, which is good. I was talking to an Adwords representative and this what he had to say about transferring account history and quality score from old account to a new account.
Adwords support:
It is possible to transfer your account keywords, ad text, etc to a new account. However, it is not possible to transfer account history information…While your quality score will start fresh, there are several factors of quality that will carry over and so will help you in establishing new quality score. These include: the historical CTR of the display URLs in the ad group, the quality of your landing page, and the historical clickthrough rate (CTR) of the keyword and the matched ad on Google. Consequently, while factors such as account performance will be lost, several factors of quality score will remain.
Is there a good USD credit card for Canadian affiliates?
The only card which is comparable to my AMEX card is the BMO Mosaik MasterCard. You can get this card in USD. You also have the option to choose either 1% cash back or Air-miles reward miles. I went with air-miles since I had airmiles reward miles with my old card. I basically switched my airmiles points from my old card to this card.
http://www3.bmo.com/mosaik/usd
-G
Marketing isn’t about just splashing a creative landing before your user’s eye. It’s about converting that user to a sale, lead or an action of some short. If you’re letting your users click away (without them taking an action), you’re leaving a lot of money on the table. Why would you let your users click away? If you can’t make them buy your product, why not take their email, so you can promote your products to them later.
It’s harder to convince someone to buy something at first try but if you can persuade them over and over by sending email follow ups and educating the user about the product, you will increase your chances of making a sale and will definitely make one.
I increased my revenue by building an email list
Early this year in January I added an opt-in box on my landing pages and starting collecting emails. To this date I’ve collected about 3k subscribed emails. I collect around 60-70 subscribers a day. I generate $20-30 extra a day (at least one sale) through these subscribers by sending them links to related offers in my follow-up emails.
Suggest me a good tool to build email list
I use Aweber autoresponder to collect emails and send follow-ups. Basically, you set up emails that will be sent to your email list as soon as someone subscribes. You can set up as many follow-up emails as your like with whatever intervals between follow-ups as you like. For example, I’ve set up my first follow-up to be sent right when someone subscribes and 2nd after 1 day.
How much it costs?
Aweber will cost you $19/mo. This is just a fraction of price comparing to what you will make back from your email list. They also have yearly subscription which costs $193/yr.
They also charge for hosting your email list. Once you have over 500 emails in your list, you will extra $10 a month and so on.
Right now I have 3k emails in my list and I pay $30 a month. However, I make at least one sale equivalent to $20 a day from my list. Last month I made little over $ 250 from my email list by sending them follow-up emails. That’s a profit of $220 a month.
As you grow your list your profits will go up as well. Imagine how much you will make if you have list of 100,000+ subscribers.
-G
Oh man, what a month. I had so much going on and no time to myself in February. I saw a Google slap across my entire account, had a bad a experience e with outsourcing of this new blog template (as you can see its not 100% still), had an interview for PPC coach position for PPC Classroom 2.0 and my full time job pretty much kept me busy.
This months numbers
First and for most, let me update with you with my numbers. Again, in February I did approximately the same numbers as last month. I was hitting 75% ROI until middle of the month when my campaign got slapped. I saw one my strong offers go. Now my campaign is literally hanging off this one offer which has history of disappearing and coming back. It’s very unstable.
Revenue: $14,9238.08
Cost: $8980.30
Profit: $5942.78
ROI: 66.18%
The only majaor difference I saw this month was my ROI was higher than previous month. Just Look at the difference higher ROI makes in you overall profits. To me higher ROI means lower cost (which is always good) and higher profits (this is one number everyone cares about).
In next post I’ll discuss how raised my ROI last month. I applied a new technique to promotional method and as a result I saw an increase in my ROI.
-G
=> This is a review post.
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