KickstarterForum.org

[jonesraymond]

Dear Lowkey, i appreciated what you suggested creators to do and may i have your email or pm please? Thank you!
My account is just created and not possible to pm you..

[Enrico]

Hi Lowkey

I would like to ask you some questions, and possibly collaborate. Could you please PM me? I can't.

[lowkey]

Dear Lowkey, i appreciated what you suggested creators to do and may i have your email or pm please? Thank you!
My account is just created and not possible to pm you..

Hi Lowkey

I would like to ask you some questions, and possibly collaborate. Could you please PM me? I can't.

hey there. pmed you both. i dont know if you can read them really.

[jonesraymond]

Dear Lowkey, thank you for your pm, unfortunately my account is not allow me to reply you by pm -__-!
It is much appreciated if you could pm me your email or skype contact, thank you so much!

[lowkey]

Dear Lowkey, thank you for your pm, unfortunately my account is not allow me to reply you by pm -__-!
It is much appreciated if you could pm me your email or skype contact, thank you so much!

hey there! wow fast replies. done!

[lowkey]

Made this post sticky for this part of the forum. Everyone should read it!

Sal

man i just realised you pin up my thread! thanks mannn! long live ksforum!

[magtop]

Interesting post!

[lowkey]

Hey guys. I am back. I am going to share some useful informations for facebook ads conversions rate. It varies, and its not exactly like what you have in mind. but to be fair, I dont know what you have in mind either. Pardon my english, here we go.

Facebook Ads Conversion Rate : We are going to separate this into two report. First, based on my research and Second, based on my past clients case studies.

From My research.

https://moz.com/blog/my-story-how-faceb ... le-adwords

Whatever I have to explain, she did well. and you should take a look at them.

From My case studies

The conversion rates varies from one campaign to another depending on :

1. Product price
2. Presentation
3. Novelty aspect

Conclusions :

Higher price point leads to lower conversion rate. Hence, you need to spend more.
Better presentation leads to higher conversion rate. Hence, you get to spend less.
Unique idea leads to virality and audience will be more invested into your project. Hence, free exposure.

Hahahahahahahaha I know you got a bit frustrated now since you were expecting for some good facts and figures right? How bout this one : (based on my latest average numbers),

Price point vs Conversion Rate (for normal products)

$10 - 24 (21.56%)
$25 - 49 (5.11%)
$50 - 75 (2.17%)
$76 - $119 (0.98%)
Anything above $120 up to $699 (0.49%)

This will help you decide your price point. For example, lets go with the highest price point. $399. Unless you can increase conversion with Novelty aspects, its best to decide your product as normal product to lower your expectations.

So lets say you need to spent $1 per customer to drive traffic to your campaign. with 2000 visitors, you already spent $2000 for ads. So with 0.49% conversion rate, you get around 9.8 new customers.

Thats $3,910 in revenue. which mean you spent half your revenue for advertising. that might not be good since I dont know whats your profit margin anyway. Unless you were aiming for exposure, which is good, 50% revenue margin for advertising is not good for business.

So according to these data, you should already know how to determine the pricing for your product. This varies from one campaign to another. Some of you know how to build a company, and decided to grow and get exposure first before you finally aim for profits. These company work down from the first campaign up to third by first building exposure and aim for profits on their third campaign.

Yes, it took you longer to get there (profitable) but hey 3rd campaign gonna be a breeze. So you dont mind to spend the money in the first place considering you know the money will be re invested into marketing.

Now, for those who aim to be profitable on the first campaign. Based on the data, you should know what is your price range. exactly the opposite of whatever i explained before.

What can help you? to mess the numbers up.

Novelty. Thats all. Even good presentation doesnt help when you have high price point. Do not imagine the numbers as sellers, but put yourself in their shoe (your clients) and you should know that pricing do represents the infamous "first impression" for your product.

Get it?

Feel free to comment.

[lowkey]

Theres some new information I forgot to mention along the way. Working with a couple of campaign owners recently made it clear that some of you are not friendly with the research tool and how to improve your audience hence the campaign.

for example,

setting up google analytics for your campaign.
setting up your crowd database.
analysing the crowd behaviour.

have you done that people?

[flyjam]

Hi Lowkey,

It's been great reading your opinions on the world of Crowdfunding and especially using Facebook ads properly.

We face the same challenge and could really do with your help. We launch on 2nd of April and have been running lead ads on Facebook. We wanted to go with agency but are unable to commit to the 25 -30 % gross because our margins are so small. We would end up doing all the work for nothing while someone else reaps all the benefit.

Can you PM us? I'm unable to do so because I just signed up ( I have read the forum many times before though)

We would love to work with you!

Best regards

Flyjam