whoops missed the it's micro niche. That could help. I still think aim for 10k revenue. That is 30 transactions a day. These days that is huge. Especially without existing traffic sources.
I'd expect 1 to 2% return on your emailing of current customers unless it's a product that is a step up from what they pay for now.
Also, just having pictures may burn you bad. Just picture sites are very very tough to run. I know a large part of our client base are picture people. I may be wrong but I believe the people that join just picture sites are collectors (ie they join Twistys, ATK, Karups). Without video I see horrible retention and low customer satisfaction. If you want to run just picture charge a lower fee like $3.95 a month and get people in then upsell the hell out of them to your videos or to other sites in similar niches.
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