Should I continue this idea? Analysing facebook ads data

[Spezza]

Context:

I set up a landing page and facebook ads to test a new ecom product concept. Product is in the health and fitness space. It is something you could probably charge around $100-$150 for and I estimate it would be less than $50 for the unit costs.


Experiment overview:

The goal of the landing page was to get people to sign up to a mailing list to get updates on product development and show that they are interested in the product concept (in hindsight I probably needed to create more of a lead magnet for this). The rest of the landing page was about how it works and the pain points it was solving.

On the facebook ads side I was running a traffic campaign and tested 5 different ad variations with different angles. Ad targeting was broad as I haven't defined my target audience yet.


The results:

After spending $120 AUD (~$80 USD) this is the data I have.

Overall:

• Reach = 5500 people
• Link clicks = 87
• Link CTR = 1.23%
• CPC = $0.92 USD
• 0 sign ups on the landing page

Best CTR ad:

• Reach = 1304
• Link clicks = 27
• CTR = 1.73%
• CPC = $0.68 USD

Most link clicks ad:

• Reach = 2487
• Link clicks = 42
• CTR = 1.31%
• CPC = $0.98 USD

My question:

Even though I got no mailing list sign ups I think the facebook ad results are promising. Do you think this is accurate? Do you think that this is something I should invest more time and money into?

 

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[savefox]

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