Jewellery case study: ₹1L to ₹1.3L monthly revenue in 3 months
Case study
Month by month
Revenue by month
| Month | Phase | Ad spend | Revenue | ROAS | Purchases | Cost per purchase |
|---|---|---|---|---|---|---|
| Start | – | – | ₹1L | – | – | – |
| Month 1 | Learning | ₹54,795 | ₹1,02,055 | 1.86x | 63 | ₹870 |
| Month 2 | Scaling | ₹59,580 | ₹1,14,291 | 1.92x | 71 | ₹839 |
| Month 3 | Scaling | ₹66,815 | ₹1,25,325 | 1.88x | 78 | ₹857 |
| Total | ₹1,81,190 | ₹3,41,671 | 1.89x | 212 | ₹855 |
Funnel
Funnel, first view to purchase month 3
- Impressions4,81,623
- Link clicks9,5881.99% of impressions
- Landing-page views7,57679.02% of link clicks1.573% of impressions
- Added to cart4946.52% of landing-page views0.103% of impressions
- Checkout started17234.82% of added to cart0.036% of impressions
- Purchases7845.35% of checkout started0.016% of impressions
0.016% of impressions became purchases
Mix
Where the budget goes month 3
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| ₹47,331 | 70.8% | 56 | 1.87x | ₹845 | |
| ₹18,586 | 27.8% | 21 | 1.88x | ₹885 | |
| Audience Network | ₹898 | 1.3% | 1 | 1.92x | ₹898 |
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Instagram Reels | ₹21,292 | 31.9% | 25 | 1.89x | ₹852 |
| Instagram Feed | ₹15,402 | 23.1% | 19 | 1.93x | ₹811 |
| Facebook Feed | ₹12,458 | 18.6% | 14 | 1.85x | ₹890 |
| Instagram Stories | ₹10,637 | 15.9% | 12 | 1.75x | ₹886 |
| Facebook Reels | ₹6,128 | 9.2% | 7 | 1.96x | ₹875 |
| Audience Network | ₹898 | 1.3% | 1 | 1.92x | ₹898 |
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Prospecting (cold audiences) | ₹56,729 | 84.9% | 66 | 1.87x | ₹860 |
| Retargeting (warm audiences) | ₹5,979 | 8.9% | 7 | 1.95x | ₹854 |
| Lookalike audiences | ₹2,151 | 3.2% | 3 | 1.82x | ₹717 |
| Advantage+ shopping | ₹1,956 | 2.9% | 2 | 1.88x | ₹978 |
Creatives
Creative mix month 3
New ads per month
| Creative type | Tier | Ad spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Catalogue (dynamic product ads) | Moderate | ₹13,312 | 16 | 1.95x | ₹832 |
| Video | Moderate | ₹37,243 | 44 | 1.89x | ₹846 |
| Static image | Moderate | ₹12,261 | 14 | 1.82x | ₹876 |
| UGC / creator video | Moderate | ₹2,232 | 2 | 1.79x | ₹1,116 |
| Carousel | Watchlist | ₹1,767 | 2 | 1.59x | ₹884 |
How we run it
How we run it, why, and how it works
Research & offer Month 1
What we do
The first problem in this scenario is scaling ad spend, so the opening month on this smaller store goes there. We split the account into layers: one campaign to test creative, one to scale winners, prospecting that leaves out past buyers, and retargeting for carts. We audit the competitors buyers are already comparing, and agree the case study before spending.
Why
In this case study, a smaller jewellery brand grows monthly revenue in 3 months, from ₹1L to ₹10L (10x). Fewer than one in ten of our measured accounts grew that fast in the same time, so the case study follows the pace of that top tenth rather than forcing the number. The main problem in this scenario is scaling ad spend, with a clear strategy close behind. Layers keep each budget line readable, so a weak campaign cannot hide inside a strong one. The audit positions the brand in this scenario against the alternatives buyers are weighing.
How it works
Each layer keeps its own budget line. The audit sets the creative and site work for the first weeks.
Measurement & reviews Month 1 to 3
What we do
We agree a written number for every month on the way from ₹1L to ₹10L, and start each review with the month-to-date figure against it. We check the reported return on spend against store revenue before any budget moves. We log store orders every day beside what the ad platform claims.
Why
Its reported return on ad spend is too low for more budget to pay, so the first months lift return before any budget step. A missed month shows up early instead of at the end of the case study. The ad platform's own count runs high, so the store's count is the one that moves budget.
How it works
Each budget step is argued against the written number. The store-side return becomes the number every review uses. Budget decisions are read off store numbers, not the ad platform alone.
Creative testing Month 1
What we do
We test with video, catalogue ads and static image first, rising to about a dozen new ads a month by the final month, with carousel watched closely since it returns less than the rest. We show the piece: product-only singles and carousels, swapped the moment they stop converting. We test static images beside video. We lead with video that carries trust: creators, customer feedback and founder-led pieces.
Why
Jewellery buyers decide on the piece, and fatigue sets in fast. In measured jewellery accounts, static image reached the top creative tier most often. In most accounts we measured, video that carried trust held its return.
How it works
Creatives are rotated on conversion, not on a calendar. Statics are added after a video wins. UGC that underperforms is replaced by founder-led video, not given more budget. More spend buys more new ads, led by video ahead of catalogue ads.
Scaling Month 2 to 3
What we do
We scale through Month 2 to Month 3 toward ₹10L as the budget rises gently while return holds, with Instagram Reels taking the largest share of spend and Instagram Feed the next. We recover abandoned checkouts with WhatsApp messages as traffic grows. We tie every budget increase to return: we step up while it holds, and step back when it drops.
Why
Across Month 2 to Month 3, the budget rises gently, while return on spend holds. In two of these months budget goes up only as far as return allows, so revenue grows more slowly than the brand's number needs. Return holds through these months because each budget step stops where return starts to slip. WhatsApp is cheaper than paid retargeting for buyers who already reached checkout.
How it works
WhatsApp recovery runs alongside paid retargeting, not instead of it. Each month's budget is set by the return the last one earned. In the final month, Instagram Reels takes the most spend and Instagram Feed the next most. Prospecting to new buyers takes the bulk of spend, while retargeting returns more for each rupee.
Milestones
Milestones by month
- Month 1
Learning month: tracking is checked against store orders and the first ads go live on a small daily budget. The daily sheet now matches platform revenue to store orders. The competitor audit is shared and the creative brief agreed.
- Revenue ₹1L
- ROAS 1.86x
- Ad spend ₹54,795
- Month 2
Scaling begins: the budget decision is taken on the return the last step earned. Budget rises to the point where return starts to give way: spend holds, and return holds.
- Revenue ₹1.1L
- ROAS 1.92x
- Ad spend ₹59,580
- Month 3
New creator and customer-feedback videos join the account. Budget rises to the point where return starts to give way: spend steps up, and return holds. ₹10L is not reached in the time, because budget stops rising where return starts to slip. Cost per purchase ends close to the learning phase.
- Revenue ₹1.3L
- ROAS 1.88x
- Ad spend ₹66,815
Learnings
Learnings from Jewellery brands we measured
Audit competitors and agree a three-month case study before spending.
We recover abandoned checkouts and lift repeat orders with WhatsApp messages.
Show the product only (singles and carousels), lead with craft or personalisation, and swap creatives the moment they stop converting.
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