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JewelleryDuration 3 monthsCase study

Jewellery case study: ₹3L to ₹3.9L monthly revenue in 3 months

Numbers modelled on 10 Monastic Media ad accounts

Case study

Month by month

Revenue by month
MonthPhaseAd spendRevenueROASPurchasesCost per purchase
Start––₹3L–––
Month 1Learning₹1,47,862₹2,97,1442.01x152₹973
Month 2Scaling₹1,99,483₹3,83,8651.92x187₹1,067
Month 3Scaling₹2,06,495₹3,92,9711.90x187₹1,104
Total₹5,53,840₹10,73,9801.94x526₹1,053
Ad spend₹5.5L
Revenue₹10.7L
Blended ROAS1.94x
Orders526
Revenue, month 3₹3.9L
ROAS, month 31.9x
Cost / purchase, month 3₹1,104
Avg order value, month 3₹2,101
Conversion, month 30.94%
Period covered3 months
Milestone₹50L a month

Funnel

Funnel, first view to purchase month 3

  1. Impressions11,76,378
  2. Link clicks24,037
    2.04% of impressions
  3. Landing-page views19,971
    83.08% of link clicks1.698% of impressions
  4. Added to cart1,794
    8.98% of landing-page views0.153% of impressions
  5. Checkout started507
    28.26% of added to cart0.043% of impressions
  6. Purchases187
    36.88% of checkout started0.016% of impressions

0.016% of impressions became purchases

Mix

Where the budget goes month 3

SegmentAd spendShare of spendPurchasesROASCost per purchase
Instagram₹1,46,89271.1%1331.90x₹1,104
Facebook₹56,69127.5%511.92x₹1,112
Audience Network₹2,9121.4%31.94x₹971
SegmentAd spendShare of spendPurchasesROASCost per purchase
Instagram Reels₹63,44230.7%581.91x₹1,094
Instagram Feed₹53,50825.9%501.95x₹1,070
Instagram Stories₹29,94214.5%251.77x₹1,198
Facebook Feed₹29,31114.2%261.87x₹1,127
Facebook Reels₹24,86012.0%231.98x₹1,081
Audience Network₹2,9121.4%31.94x₹971
Facebook Stories₹2,5201.2%21.94x₹1,260
SegmentAd spendShare of spendPurchasesROASCost per purchase
Prospecting (cold audiences)₹1,75,16484.8%1581.90x₹1,109
Retargeting (warm audiences)₹19,0759.2%181.98x₹1,060
Lookalike audiences₹7,0023.4%61.85x₹1,167
Advantage+ shopping₹5,2542.5%51.90x₹1,051

Creatives

Creative mix month 3

New ads per month

Video14 a month
Catalogue (dynamic product ads)5 a month
Static image2 a month
UGC / creator video2 a month
Carousel2 a month
Moderate1.91xblended ROAS 4 creative types₹2L spend
Watchlist1.61xblended ROAS 1 creative type₹5,241 spend
Creative typeTierAd spendPurchasesROASCost per purchase
Catalogue (dynamic product ads)Moderate₹44,816421.98x₹1,067
VideoModerate₹1,03,569941.91x₹1,102
Static imageModerate₹43,944391.84x₹1,127
UGC / creator videoModerate₹8,92581.82x₹1,116
CarouselWatchlist₹5,24141.61x₹1,310

How we run it

How we run it, why, and how it works

  1. Research & offer Month 1

    What we do

    We focus the first month on keeping return on spend while scaling, the brand’s main problem, on a smaller base. 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 get the store ready for paid traffic first: reviews and trust pointers on product pages, a visible return window, an about page and a reason to pay upfront.

    Why

    In this case study, a smaller jewellery brand grows monthly revenue in 3 months, from ₹3L to ₹50L (16.7x). That is faster than nine in ten of our measured accounts grew over the same time, so the case study below is on what that fastest tenth reached and shows where it lands against the number this scenario calls for. The main problem was keeping return on spend while scaling, followed by return on ad spend. Without layers, retargeting quietly eats the prospecting budget. No budget returns more than the store converts.

    How it works

    Each layer keeps its own budget line. Site fixes are handed over in the first weeks, before budget rises.

  2. Measurement & reviews Month 1 to 3

    What we do

    We track ad-platform revenue beside store orders in a shared daily sheet. We write month-by-month revenue numbers with the brand's team that climb from ₹3L to ₹50L, and open every review with the month-to-date number against them. We raise budget in a month only while return holds; where it slips too far, we hold it.

    Why

    The return on ad spend it reported sits close to what measured jewellery stores of that size hold, and the case study starts from it. Ad platforms claim more orders than stores record, so the store number decides budget. A shortfall is caught in the month it happens, not at the end.

    How it works

    Every budget call starts from the store's orders. Each budget step is argued against the written number. A month whose return slips past that point keeps its budget instead.

  3. Creative testing Month 1

    What we do

    We test with video, catalogue ads and carousel first, rising to about two dozen new ads a month by the final month, keeping carousel on a short leash because its return trails the account. We show the piece: product-only singles and carousels, swapped the moment they stop converting. We work in creative batches with a fixed read window each. We run creator, customer-feedback and founder-led video.

    Why

    Jewellery buyers decide on the piece, and fatigue sets in fast. A fixed window stops spend chasing a creative before it has been read. In most accounts we measured, video that carried trust held its return.

    How it works

    Creatives are rotated on conversion, not on a calendar. Losing batches stop; winning ads take their budget. Weak UGC is swapped for founder-led video rather than scaled. New ads rise with the budget, most of them video, then catalogue ads.

  4. Scaling Month 2 to 3

    What we do

    Through Month 2 to Month 3, we push toward ₹50L: the budget rises gently and return dips, and Instagram Reels carries the most spend and Instagram Feed the next. We raise budget only while return on spend holds, and cut it when return drops. We recover abandoned checkouts with WhatsApp messages as traffic grows.

    Why

    In Month 2 to Month 3 the budget rises gently, and return on spend dips. 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. In measured accounts, scaling spend raised cost per order and lowered return on spend, so each step waits for return to hold. WhatsApp is cheaper than paid retargeting for buyers who already reached checkout.

    How it works

    There is no fixed ramp; each month's budget follows the return of the last. WhatsApp recovery runs alongside paid retargeting, not instead of it. Most of the final month's spend sits on Instagram Reels, then Instagram Feed. Prospecting to new buyers takes the bulk of spend, while retargeting returns more for each rupee.

Milestones

Milestones by month

  1. Month 1

    The learning phase opens: the first ads run on a small daily budget while tracking is checked against store orders. Store orders and ad-platform revenue are checked side by side. Testing, scaling and retargeting now run as separate layers.

    • Revenue ₹3L
    • ROAS 2.01x
    • Ad spend ₹1.5L
  2. Month 2

    The scaling phase opens: budget is reviewed against return before the next step. Budget is raised only as far as return allows: with budget steps up, return on spend dips.

    • Revenue ₹3.8L
    • ROAS 1.92x
    • Ad spend ₹2L
  3. Month 3

    Customer-feedback and creator videos are refreshed. Budget is raised only as far as return allows: with budget holds, return on spend holds. Revenue ends below ₹50L, the number this scenario calls for, because budget stops rising where return starts to slip. Cost per purchase ends higher than in the learning phase.

    • Revenue ₹3.9L
    • ROAS 1.90x
    • Ad spend ₹2.1L

Learnings

Learnings from Jewellery brands we measured

  1. Positioned as handcrafted and made to order; led with personalised pieces

  2. Product-only creatives and carousels, swapped the moment they stopped converting

  3. Show the product only (singles and carousels), lead with craft or personalisation, and swap creatives the moment they stop converting.

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