Trying to analyse campaign results

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I am pretty inexperienced on facebook ads so I might be off with my analysis and my thinking here, which is why I wanted to post it here so someone could correct me if Im going down the wrong path.

I created 2 t-shirts on Teespring and began 2 different ad campaigns. At first I only had one ad set and one ad per campaign, something which I feel was a mistake as I should have probably split tested.

Anyway, the first one of mine only got 3 link clicks after 650 impressions, with a CTR of 0.46%. Also the cost per 1000 impressions is almost $10. My profit per sale is $15 so I cannot spend more than that on ads. With the current CPM I can only get around 1500 impressions before I have to kill the ad. With the stats thus far (although I accept they are extremely limited and not exactly extensive), I will only get around 9 link clicks if Im lucky. My CPC is $2.15 which is just too high. My relevance score for the ad is only 5, is that possibly on of the reasons the cost of impressions is high?

Is it worth it to spend another $10 running this ad? Or should I just kill it and try the product again with a couple of different split tested ads to try and get a higher CTR? Or should I drop the product completely?

For the second one, I haven't got a single click on my link (I did get a few page likes) after 882 impressions. I am going to kill campaign as there seems to be no interest, even though I have really targeted a small group of people with very targeted interests, that are relevant to the product.

Also, just another quick question. I ran a third ad campaign but the price was insanely high. I got charged $1.37 for just 83 impressions! That when I stopped the ad. I would have had to pay over $13 for just 1000 impressions. I guess its my fault for not properly paying attention to the daily reach before I started the ad. What is the reason for this astronomical reach? Is it because of the interests I was targeting?

I would really appreciate it if anyone could help me with this. Im pretty new at this and Im having a little trouble analysing this data. I know the sample is small but I don't want to keep spending money on failing campaigns.
#analyse #campaign #results

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