What metrics you should be looking for when testing a product? When to kill the ad? When to let it run a bit more? Here’s what has been working for me as well as other marketers:
So let's say you're testing a product with a PPE ad for $5-$10 / day budget. Here are a few metrics which will help you decide IMMEDIATELY if to kill the ad or not:
?? CPE (cost per engagement) is above $0.25? KILL! (cpe below $0.1 is good)
?? CPC (cost per link click) is above $3? KILL! (cpc below $1 is good)
?? If no ATC by $5 ad spent - KILL!
?? If no purchase by spending your set amount for MAX CPP (Max cost per purchase - you determine how much you're ready to invest to see if the product gets you a purchase) - KILL! Don't try to make a winner out of a loser product!
Once you've proven with the PPE ad that the product has potential, move to WC optimizing on either ATC or PUR with $10-$15/day budget. Let it run and see what happens. If you're not consistent enough with purchases - KILL.