I Tried Selling A.I. Art for 30 days - Realistic Results

Patryk Marketer
28 Mar 202315:41

TLDRIn this video, the creator discusses their experience selling AI-generated art on Etsy for a month using Medjurning software. They highlight the unlimited potential of creating art with no limit on the number of images, high profit margins, and the passive income aspect of the business. The creator emphasizes the importance of using Etsy ads for new stores and shares their strategy of creating popular themed bundles. Despite the time-consuming process of creating art bundles, the video shows a successful month with 2,364 visitors, 216 orders, and a high conversion rate of 9.1%, resulting in $207.74 profit. The creator plans to continue growing the store and offers more in-depth training for YouTube members.

Takeaways

  • 🎨 The speaker started selling AI-generated art on Etsy using a software called Medjurning, which creates high-quality images.
  • πŸš€ AI art is a rapidly evolving field with new tools and updates being released frequently, representing a digital revolution in art.
  • πŸ’‘ To use Medjurning for reselling art, a paid plan starting at $10 per month is required, in addition to Discord for communication.
  • πŸ“ˆ The pros of selling AI art on Etsy include unlimited potential for image creation, high profit margins, and a passive income stream.
  • πŸ›’ Etsy is a marketplace that supports digital products, allowing for the sale of numerous digital items with minimal customer service.
  • πŸ’° The speaker recommends running ads on Etsy for new stores to gain visibility and increase sales, as they are very effective.
  • ⏰ A significant con is the time investment required to create each bundle of AI art for sale, which can range from 20 minutes to over an hour.
  • πŸ” The speaker's strategy involved creating bundles of popular items on Etsy and using a tool called Everb to research what is selling well.
  • 🌈 An example given was creating a bundle of pink mushrooms after noticing the popularity of red mushroom art, leveraging Etsy's algorithm for suggestions.
  • πŸ“Š In the first month, the store had 2,364 visitors, 216 orders, with a high conversion rate of 9.1%, generating $487 in revenue.
  • πŸ“‰ The speaker spent $156 on fees and $123 on Etsy ads, resulting in a profit of $207.74 for the month from a new account with only 23 listings.
  • ❄️ The process is described as relatively hands-off, with little hassle and the potential to snowball into a larger business with more listings and time.

Q & A

  • What is the name of the software used to create AI generated art in this video?

    -The software used to create AI generated art is called Medjurning.

  • What is the significance of the update called mid-journey 5?

    -Mid-journey 5 is an update that makes the process of generating AI art even better, faster, and smoother.

  • What is Discord and why is it needed for using Medjurning?

    -Discord is a social media platform for communication. It is needed for Medjurning because the software operates through it, and to resell the generated art, a paid plan on Discord is required.

  • What are the pros of selling AI generated art on Etsy according to the video?

    -The pros include unlimited potential for creating images, high profit margins, a passive income stream, minimal customer service involvement, and no return policy for digital products.

  • What is the main con mentioned about selling AI generated art on Etsy?

    -The main con is that it can take a significant amount of time to create a bundle of AI art to sell, which might delay seeing substantial results.

  • What strategy was used to determine what AI art to sell on Etsy?

    -The strategy involved using a tool called everb to identify what is already popular on Etsy and then creating similar, yet unique, AI art to capitalize on existing trends.

  • How much revenue was generated from the AI art store in the last month according to the video?

    -The store generated $487 in revenue in the last month.

  • What was the conversion rate for the AI art store and why is it considered high?

    -The conversion rate was 9.1%, which is considered high because typically a conversion rate above 2% is seen as good in marketing.

  • How much was spent on marketing fees, specifically on Etsy ads?

    -A total of $123 was spent on Etsy ads as part of the marketing fees.

  • What was the actual profit made from selling AI generated art in March?

    -The actual profit made from selling AI generated art in March was $207.74.

  • What is the future plan for the AI art store as mentioned in the video?

    -The plan is to continue adding more listings and to snowball the store's growth, aiming to build it up and increase profits over time.

  • How can viewers get more information or training on selling AI art on Etsy?

    -Viewers can join the YouTube membership to access a dedicated training video on selling AI art on Etsy and receive monthly AI prompts for product research.

Outlines

00:00

🎨 Starting an AI Art Etsy Store

The speaker introduces their experience of starting an Etsy store selling AI-generated art using a software called Medjurning. They discuss the potential of AI art and the advantages of selling digital products on Etsy, such as high profit margins and the passive nature of the business. The speaker also outlines the initial costs, the need for a paid plan on Discord to resell the artwork, and the importance of running ads on Etsy to boost visibility and sales.

05:00

πŸ“ˆ Etsy Store Strategy and Results

The speaker shares their strategy for identifying popular items on Etsy using a tool called everb and creating similar AI-generated art. They discuss the effectiveness of this approach and provide a detailed breakdown of their store's performance, including the number of visitors, orders, conversion rate, and revenue generated. The speaker also emphasizes the importance of running Etsy ads for driving sales and mentions the low customer service demands due to the nature of digital product sales.

10:03

πŸ“Š Profit Analysis and Future Plans

The speaker provides a detailed analysis of their store's financial performance, including sales, fees, marketing costs, and profit. They highlight the high conversion rate and the consistent growth in revenue. Despite the initial slow growth and the time investment required to create art bundles, the speaker is optimistic about the passive income potential. They express their intention to continue expanding the store with more listings and share their long-term plans to snowball the business.

15:03

πŸš€ Growing an AI Art Business on Etsy

The speaker concludes by emphasizing the viability of selling AI art on Etsy as a passive income source. They share their excitement about the growth potential and the success of their second store, which has been running for two months. The speaker encourages viewers to follow their journey and offers additional resources, including YouTube videos and a training video for YouTube members, to help others interested in starting a similar business.

Mindmap

Keywords

πŸ’‘AI Art

AI Art refers to artwork created using artificial intelligence. In the video, the creator uses a software named Medjurning to generate AI art, which is then sold on Etsy. AI art is a significant theme as it represents the innovative method of art production that the video discusses.

πŸ’‘Etsy Store

An Etsy store is an online marketplace where individuals can sell handmade, vintage items, and craft supplies. The video's narrator started an Etsy store to sell AI-generated art, which is central to the video's narrative about the potential of AI art sales.

πŸ’‘Medjurning

Medjurning is a software capable of creating AI-generated art. It is mentioned as the tool used by the video's narrator to produce the art pieces sold in the Etsy store. Medjurning represents the technological aspect of the art creation process discussed in the video.

πŸ’‘Profit Margins

Profit margins refer to the percentage of profit relative to the cost of goods sold. In the context of the video, the narrator discusses the high profit margins achievable when selling AI art on Etsy, highlighting the financial incentive for this type of business.

πŸ’‘Passive Income

Passive income is money earned with little to no effort by the individual after an initial setup. The video emphasizes that selling AI art on Etsy can be a form of passive income, as once the art is uploaded, the sales and revenue generation are largely automated.

πŸ’‘Customer Service

Customer service involves assisting customers and addressing their concerns. The video mentions that there is minimal customer service involved in selling AI art on Etsy, which contributes to the low-maintenance nature of the business model.

πŸ’‘Digital Products

Digital products are goods that are distributed in digital form, such as images, music, or software. The video focuses on the sale of digital products, specifically AI-generated art, which can be easily sold on platforms like Etsy without the need for physical shipping.

πŸ’‘Etsy Ads

Etsy Ads are a form of online advertising that allows sellers to promote their listings on Etsy. The narrator recommends using Etsy Ads for increasing visibility and sales, which is a strategy discussed for growing the AI art business.

πŸ’‘Conversion Rate

The conversion rate is the percentage of visitors to a website who complete a desired action, such as making a purchase. In the video, a high conversion rate of 9.1% is mentioned, indicating the effectiveness of the AI art sales strategy on Etsy.

πŸ’‘Bundles

In the context of the video, bundles refer to collections of AI-generated images that are sold together as a package. The narrator's strategy involves creating and selling bundles of 20 PNG images, which is a key aspect of the sales approach.

πŸ’‘Everb

Everb is a tool mentioned in the video used for researching what products are selling well on Etsy. It helps the narrator identify popular trends, like mushroom-themed AI art, to inform the creation of similar, yet distinct, AI art bundles for sale.

Highlights

The video discusses the experience of selling AI-generated art on Etsy for 30 days using the software Medjurning.

Medjurning is capable of creating high-quality AI art, with a recent update called mid-journey 5 enhancing the process.

To resell art generated with Medjurning, a paid plan starting at $10 per month is required.

Pros of selling AI art include unlimited potential for image creation, high-profit margins, and a passive income stream.

Etsy's marketplace supports digital products, allowing for the sale of numerous digital items.

The creator recommends running ads on Etsy for new stores due to their effectiveness in generating sales.

AI art selling on Etsy involves minimal customer service due to the nature of digital product sales.

The store has a 5-star review rating due to the ease of transaction and lack of product returns for digital goods.

The main con is the time investment required to create a bundle of AI art for sale.

The strategy used was to create bundles of 20 PNGs based on popular trends identified on Etsy.

The use of the tool Everb allowed the creator to analyze sales data and trends of other stores for inspiration.

The store started with a slow growth but saw an increase in sales after adding more listings.

The conversion rate for the store was 9.1%, which is considered high in the context of online marketing.

Most of the traffic to the store came from the Etsy app, search, and marketing SEO.

Etsy ads were effective in driving sales, with a recommendation to invest in them for new listings.

The creator made a profit of $207.74 in March from the AI-generated art sales on Etsy.

The video offers a glimpse into the potential of passive income through AI art sales on digital marketplaces like Etsy.

The creator plans to continue expanding the store and increasing listings to snowball the business.