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Found a product with great engagement on Facebook ads but nobody is buying from my store
I found what I thought was a winning product by researching Facebook Ad Library. There's a store running ads for this product (a portable espresso maker) and their ads have:
- 2.3k likes
- 800+ shares
- 300+ comments (mostly positive, people tagging friends)
- The ads have been running for 6+ weeks (so they must be profitable right?)
I sourced the same product, made similar ads, and launched my store 3 weeks ago.
My results:
- Ad spend: $580
- CTR: 2.4% (decent I think?)
- Link clicks: 340
- Sales: 3
So people ARE clicking my ads (similar engagement to the competitor), but they're not buying from my store. The competitor is clearly making sales because they keep running ads, but I'm barely getting any conversions.
I don't understand what I'm doing differently. We're selling the same product, similar price point ($44.99 vs their $46.99), similar ad creative style.
Is there something about their STORE that's making people buy that I'm missing? Or did I just pick a product that only works for established stores?
I'm trying to figure out if I should:
A) Keep testing this product but fix something about my store
B) Move on to a different product
C) Increase ad budget to get more data
Really confused why my ads are performing well but the competitor is converting and I'm not.