This could have been me had I stopped yesterday which by the way I wanted to.
This is me instead because I hung around longer.
I spent the past couple of days trying to optimize a new product launch. All metrics looked great. Every step of the funnel just as I wanted. I had low CPM, high CTR, low CPC, low CPATC, low CPIC, but.. also low conversion rate. For those who don’t know what am I talking about, I had low cost for everything, but the number of users purchasing were also low which was something I really didn’t expect to happen.
Due to this my cost per acquisition was higher than where I wanted it to be. Instead of making money, I was losing money until I launched the retargeting campaign.
For those who don’t know, retargeting is reaching warm audience or potential customers again. People who showed purchase intent but didn’t purchase. My retargeting campaign brought me really cheap sales. So cheap that it offset all the loss that other campaigns caused. Not just that, it turned the overall campaign around and made the product launch profitable.
This showcases two things. 1) Retargeting is really really powerful. 2) When you’re thinking of giving up, hang around just a little bit longer.