My Impressions and New Users stayed the same but my revenue is down by 80% - what can I do to identify my problem?

"Hello everyone, I am a beginner in SEO and I need some assistance in identifying the issue with my small side project. I set up a website where users can purchase a digital product, and initially, sales were increasing steadily, reaching around 800€ per month within the first 6 months. However, sales have significantly declined with no changes made to the site for several months. Despite consistent impressions and new users on Google Search Console and Analytics, the sales have decreased. I am unsure of the cause for this loss and would appreciate any suggestions on how to identify and address the issue."

There are several potential reasons for your revenue decline despite consistent impressions and new users. Here are some key areas to investigate:

  • Conversion Rate: While your traffic might be stable, your conversion rate (the percentage of visitors who make a purchase) could be significantly lower. Analyze your website’s user experience, focusing on factors like:
    • Clarity of Value Proposition: Is it clear to visitors exactly what they’re buying and why they should choose your product?
    • Friction in the Purchase Process: Are there unnecessary steps or confusing elements in the checkout process?
    • Product Descriptions and Visuals: Are your product descriptions compelling and informative? Do the images and videos effectively showcase your product?
  • Competition: The market might be becoming more competitive. Look for new competitors that might be attracting your target audience. Consider analyzing their marketing strategies and offerings to see what they are doing differently.
  • Pricing: It’s possible that your product is no longer competitively priced. Have there been changes in the market that necessitate a price adjustment? Research your competitors’ pricing and see if your current price point aligns.
  • Customer Feedback: Reach out to past customers (perhaps through email surveys or social media) to gather feedback on their experience with your product and website. This could provide valuable insights into potential areas for improvement.
  • External Factors: Don’t overlook the possibility of external factors impacting your sales. Are there any industry-specific trends, economic changes, or seasonal fluctuations that could be affecting your target market’s purchasing behavior?

By systematically investigating these areas, you can identify the root cause of your revenue decline and implement targeted solutions to regain your sales momentum.