In retrospect (and maybe this should be a follow-up experiment), we should have advertised ONLY our free, limited version and focused on getting the cheapest CPC possible.
$50 at a $0.02 CPC would yield 2500 clicks. For a free app, if we saw a 10% download (a very healthy assumption I know) that would be 250 downloads of the free app.
Maybe after proving the value of the app with limits, we get approximately 10% to convert to paying of the 250 downloads.
That's 25 paid, or ~50 pre apple tax. Still losing money with very healthy assumptions, but I think we'll try this as well...even after the negative experiment and will post our results.
I just want to say thanks for posting your experiences. Everyone here is ragging on you for "too small sample size" and "u did it wrong" but I appreciate that you came forward and shared.
For the people who scoff at a $50 ad budget, that just tells me they've never done this with their own money. It's easy to brag about campaign size when you're spending out of someone else's wallet.
$50 at a $0.02 CPC would yield 2500 clicks. For a free app, if we saw a 10% download (a very healthy assumption I know) that would be 250 downloads of the free app.
Maybe after proving the value of the app with limits, we get approximately 10% to convert to paying of the 250 downloads.
That's 25 paid, or ~50 pre apple tax. Still losing money with very healthy assumptions, but I think we'll try this as well...even after the negative experiment and will post our results.