Day 2 of running ads on Reddit. Here are the key stats. What can I do to make my campaign more effective? I feel like I'm def not getting the bang for my buck:
Results
Amount spent: $242
Impressions: 130k
Clicks: 321- eCPM: $1.87
CPC: $0.76- CTR: 0.248%
Waitlist signups: 0...
What I'm trying to do
Build a waitlist for my product (pending MVP)
Product: a platform that connects mentors and mentees for a fee
@claireu1111 That's exactly how people/entrepreneurs lose more money than they need to. You don't have to know and do everything, but you should definitely know enough to understand if you're getting value and how much value you're getting. Their pricing seems to be on the "Ripp-off" side of the Ad management spectrum. But, again, I can't judge without looking at the value you're getting in return. Keep in mind, though, that this is part of your CAC. So when you're measuring how much it's costing you to acquire a user, the agency fees should be baked into those calculations.
@claireu1111 I actually have a dildo startup and let me tell you, it’s still hard to sell too. There truly is no such thing as a free lunch, even for those bold enough to sell dildos
@duleigh Pre-revenue here looking to start advertising (b2c) soon! I know it depends based ok my nichr, but generally speaking: Which platforms have you found less anti-ad and what industry/niche are you in? Thanks
@rannykay If your target market is on Facebook it is a pretty good place to advertise. Avid users there can’t tell between facts and fiction so they are pretty easy to influence.
/yes, I’m generalizing, but it isn’t far from the truth.
@harmonyindissonance On my entire time on Reddit I’ve only clicked one ad and it promised me the same quality as a service I was already using for only 10% of the price. The proposition was valuable enough to me that I even googled how to bookmark an Ad on Reddit. My takeaway is that Ads can work but they have to have an extremely clear and tangible value proposition.
Most of the ads I currently see, either I don’t understand exactly what they are offering, or I feel don’t provide any value for me.
(Edit: Just scrolled past the next 5 ads to see what they gave me. 2 of them were for quitting smoking and I've never smoked in my life. Another ad was for a SaaS product that I'm already aware of and won't use since they are only marginally better than free alternatives and quite pricy. 1 ad was a crypto product but I wasn't sure exactly what it did, and I have no interest in crypto anyways. And the final ad was for a TV show in a genre I'm not interested in).
