What acquisition and conversion rates suggest "keep going" versus "give up or change strategy"?
As I'm fairly new at this, I'm unsure what to metrics and numbers suggest "this is worth pursuing" versus numbers that should tell me "something is wrong here."
For instance, I just ran $40 in ads on reddit for a free webinar and got about 27 registrants (confirmed emails). That's about $1.50 per email.
I have no idea whether I should be excited or depressed by that number. (I should say it's a pretty targeted offer, so the list is good from that perspective.)
Similarly, when I start selling to my list what should I expect?
I'm sure this all depends, but, as an example, I'm looking at a starter product (before upsell) marketed to a pretty tight niche list at a cost of something like $25 to $50. (After a 5-10 email autoresponder process.) What percent of purchasers would make you feel like "yes, that's good" versus one that you'd consider a failure? 3%? 10%?
I assume that those with more experience have some idea of what numbers indicate a winning idea versus those that indicate something is wrong. I know that a 90% purchase rate would mean "YEAH! Full speed ahead" and a 0.001% rate would mean "something's wrong." What I'm unsure of is all of those numbers in between....
Any insight is greatly appreciated.
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