Is this okay for my first major ad campaign?
I'm quite new to the whole indiehacker thing, but a few days ago I decided to create my first facebook ad campaign for my first product. A code snippet market place, to increase developer efficiency: http://yeahboilerplates.com/
I set the budget for the campaign to $5 a day, to test the waters. This campaign has been running for 3 days now. And now I'm averaging $0.04 per landing page view. I looked around the internet to compare this figure with the average for technology related businesses. It is $1.27, wow! This is more than 30 times as high as mine is!
For this campaign I utilized a rather large target audience, 16 million people, who are developers. As far as I understand broader target audiences are less costly compared to more a targeted one, though they have a lower click through rate. My click through rate is about 0.65%, and the conversion rate (newsletter signup) on my old landing page was ~2%, but on the new version is is ~3%. I would not be too confident in the conversion rate, though, as only a couple hundred people have seen my page as of now.
Nevertheless I'm wondering what your opinion on this is. Is this an anomaly? Should I increase the budget, to grow my mailing list, or are these results no indication of success and I should focus on content markting instead? What are your suggestions?
If you have any questions feel free to share them :)