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Also I don't think it's necessarily a fail. You got 6 invitations to your service for a $150 spend. So that's a $25 cost per invite. What's the total lifetime
by unreal37 14y ago
Also I don't think it's necessarily a fail.
You got 6 invitations to your service for a $150 spend. So that's a $25 cost per invite. What's the total lifetime value of a landlord to you? If it's more than $25, that's a win right? You have to discuss these results using math in order to say win/fail.
Also you're right that spending more and playing with the headlines day to day is a good idea. (I hear @patio11 in my head shouting "A/B testing!") The $25 acquisition cost could drop to $10 or $5 with the right message wording and trying different subreddits.
Lastly, I always shudder to hear about $100 FB ad campaigns people run and declare them to be a waste of time. As someone else said, it is a bit like golf. You have to play it a few times to get a sense of if you're good at it. The first time out is not a sufficient test.
- ezl 14y agoAgree. I don't actually consider it a fail. I generally treat forays like this as exploratory research, and like many other situations, you have to pay for information. 6 invitations != 6 conversions, but yes, I'd agree that 25/conversion would be pretty reasonable. I haven't done recent metrics on what my customer LTV is, but its at least in the ballpark of 25. I entirely agree that this needs some split testing -- I didn't explore the reddit advertising tools enough to see if there's an easy way to split test, but it didn't jump out at me.