How much traction is enough to pursue an idea?

[SIcmart]

Hello everyone,

I haven't visited the forum for a while, but I'm back now!

In an effort to decide what type of e-commerce site to pursue, I created a landing page with a simple email opt-in for a product I'd like to sell. I also created a Facebook ad which looks to the landing page. Simple. However, I'm not sure if my results are determinant.

Here are some statistics:

So far I am on day 3 out 7.

Ad Reach: 3,346
Clicks: 61
Unique Views on Landing Page: 87 (I'm not sure if there is a discrepancy, I assumed this number should match the number of clicks)
Emails: 21

Initially, I think these results are good. They yield a decent CTR and a good "conversion" (apologies if this is not the precise term since a sale isn't actually being made). However, I'm not sure if this is enough information.

My plan is to wait until the campaign is finished and send an email to those who signed up asking a couple of questions including how much they would be willing to pay for said product and what other variations of the product they would be interested in. I think I'm a little apprehensive because the product is not that easy to manufacture, but this higher-barrier to entry is partially why I chose it as a candidate.

Would love to hear input. Any help is greatly appreciated.

JB

 

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[Deleted2BB3x9]

What is your cost per email?

Aim for under 2$ an email.

I am currently paying 2.07$ per email running a campaign for my product so you can use that to compare.

 

[SIcmart]

What is your cost per email?

Aim for under 2$ an email.

I am currently paying 2.07$ per email running a campaign for my product so you can use that to compare.

Ah, I guess I should relay my costs!

I limited my spending to $10 daily limit.
CPC is $0.38
Total Spent so far is $23.42

So if take the $23.42 / 21 emails = $1.16

That seems pretty good to me! I'll keep monitoring!

 

[Deleted2BB3x9]

Ah, I guess I should relay my costs!

I limited my spending to $10 daily limit.
CPC is $0.38
Total Spent so far is $23.42

So if take the $23.42 / 21 emails = $1.16

That seems pretty good to me! I'll keep monitoring!

That's really good. I've heard of people getting their costs below 0.50$ before.
If you'd like to optimize more, I'd suggest split testing a new FB ad. Your landing page seems to be converting well but FB ads could be better.
I'm getting a 2.5% CTR on my FB ad. Haven't really optimized it... But it's definitely possible to get a 3%+ CTR.

 

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[SIcmart]

Figured I would post an update...

Day 6 of 7:

Ad Reach: 9,639
Clicks: 178
Unique Views on Landing Page: 208 (again, I'm not sure why the discrepancy between FB clicks and quickMVP reporting)
Emails: 49
Total Spend: $53.10
CPC: $0.30
CPE (Cost per Email): $1.08

These results seems positive, but I will post again when I begin to get survey information back from the email I send out this weekend.

For some of you who have already launched, at what point did you think that the results were good enough to warrant finding a good manufacturer/supplier?

Thanks!

JB