Jewellery case study: ₹30,000 to ₹40,791 monthly revenue in 4–5 months
Case study
Month by month
Revenue by month
| Month | Phase | Ad spend | Revenue | ROAS | Purchases | Cost per purchase |
|---|---|---|---|---|---|---|
| Start | – | – | ₹30,000 | – | – | – |
| Month 1 | Learning | ₹16,150 | ₹31,290 | 1.94x | 15 | ₹1,077 |
| Month 2 | Scaling | ₹19,556 | ₹37,153 | 1.90x | 18 | ₹1,086 |
| Month 3 | Scaling | ₹20,881 | ₹40,019 | 1.92x | 19 | ₹1,099 |
| Month 4 | Scaling | ₹21,445 | ₹40,280 | 1.88x | 19 | ₹1,129 |
| Month 5 | Steady | ₹21,896 | ₹40,791 | 1.86x | 19 | ₹1,152 |
| Total | ₹99,928 | ₹1,89,533 | 1.90x | 90 | ₹1,110 |
Funnel
Funnel, first view to purchase month 5
- Impressions1,42,887
- Link clicks3,4552.42% of impressions
- Landing-page views2,59775.17% of link clicks1.818% of impressions
- Added to cart2077.97% of landing-page views0.145% of impressions
- Checkout started5627.05% of added to cart0.039% of impressions
- Purchases1933.93% of checkout started0.013% of impressions
0.013% of impressions became purchases
Mix
Where the budget goes month 5
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| ₹15,962 | 72.9% | 14 | 1.86x | ₹1,140 | |
| ₹5,934 | 27.1% | 5 | 1.88x | ₹1,187 |
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Instagram Reels | ₹6,721 | 30.7% | 6 | 1.87x | ₹1,120 |
| Instagram Feed | ₹5,870 | 26.8% | 5 | 1.91x | ₹1,174 |
| Facebook Feed | ₹3,506 | 16.0% | 3 | 1.83x | ₹1,169 |
| Instagram Stories | ₹3,371 | 15.4% | 3 | 1.74x | ₹1,124 |
| Facebook Reels | ₹2,428 | 11.1% | 2 | 1.94x | ₹1,214 |
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Prospecting (cold audiences) | ₹19,512 | 89.1% | 17 | 1.85x | ₹1,148 |
| Retargeting (warm audiences) | ₹2,384 | 10.9% | 2 | 1.93x | ₹1,192 |
Creatives
Creative mix month 5
New ads per month
| Creative type | Tier | Ad spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Catalogue (dynamic product ads) | Moderate | ₹3,994 | 4 | 1.93x | ₹998 |
| Video | Moderate | ₹14,110 | 12 | 1.86x | ₹1,176 |
| Static image | Moderate | ₹3,792 | 3 | 1.79x | ₹1,264 |
How we run it
How we run it, why, and how it works
Research & offer Month 1
What we do
We start with reaching new buyers, which the brand in this scenario named first, before anything else on this smaller store. We lead with craft: handcrafted or made-to-order positioning, with personalised pieces up front. 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 4–5 months, from ₹30,000 to ₹1L (3.3x). Only the faster-growing accounts we measured reached that pace in the same time, but they did reach it. The main problem was reaching new buyers, followed by tracking and attribution. Jewellery buyers decide on the piece and the story behind it. The audit positions the brand in this scenario against the alternatives buyers are weighing.
How it works
Personalised pieces open the prospecting ads. The audit sets the creative and site work for the first weeks.
Measurement & reviews Month 1 to 5
What we do
We check the pixel against store orders and close the gaps before reading any campaign. We keep a shared daily sheet with the ad platform's revenue next to real store orders. We set the path from ₹30,000 to ₹1L as written monthly numbers, and read every review against the month so far.
Why
With no return on ad spend reported, the case study begins at the level measured jewellery stores of that size hold. Broken tracking makes good campaigns look weak and weak ones look good. The ad platform's own count runs high, so the store's count is the one that moves budget.
How it works
No campaign is judged until pixel purchases match store orders. Budget decisions are read off store numbers, not the ad platform alone. Written monthly numbers make each scaling decision explicit.
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 no format far behind the account's return. The learning month runs on a small daily budget, stepping up only once orders confirm. We work in creative batches with a fixed read window each. We show the piece: product-only singles and carousels, swapped the moment they stop converting.
Why
The first rupees are for finding the buyer, not for volume. Buying more before a batch is read means paying for guesses. Jewellery buyers decide on the piece, and fatigue sets in fast.
How it works
Spend steps up only after orders confirm at the low budget. Losing batches stop; winning ads take their budget. Creatives are rotated on conversion, not on a calendar. The number of new ads grows with spend; video makes up the largest part and catalogue ads the next.
Scaling Month 2 to 4
What we do
Through Month 2 to Month 4, we push toward ₹1L: the budget rises gently while return holds, and Instagram Reels carries the most spend and Instagram Feed the next. We scale into the festive and wedding calendar with seasonal collection campaigns. We build lookalikes from past buyers once purchases are steady, beside broad prospecting.
Why
Across Month 2 to Month 4, 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. Each budget step here is sized so that return stays close to where it was. Demand is seasonal and regional, so spend moves with the calendar.
How it works
Spend shifts into each season and between regions with the calendar. Lookalikes are read against broad on the same creative. Instagram Reels carries the largest share of spend in the final month, with Instagram Feed next. Most spend reaches people who have not bought yet; past visitors return more per rupee.
Steady state Month 5
What we do
From Month 5, we protect the revenue already built and move toward ₹1L where return permits. We build lookalikes from repeat buyers and retarget past buyers with new arrivals. We refresh tired ads by mixing old and new creatives, and keep a creative bank.
Why
Growth slows from Month 5, still short of ₹1L. Spend still grows, at a slower pace than during scaling. Repeat buyers are the cheapest orders an account gets. In one account we measured, click-through fell before revenue did; refresh is how that is avoided.
How it works
New arrivals go to past buyers first, before broad prospecting. The bank means a tired ad is replaced the week it tires.
Milestones
Milestones by month
- Month 1
First, the set-up: a small daily budget carries the first ads, and store orders are matched to tracking. The competitor audit is shared and the creative brief agreed. Personalised pieces lead the prospecting ads.
- Revenue ₹31,290
- ROAS 1.94x
- Ad spend ₹16,150
- Month 2
Scaling starts: product-only creatives that stop converting are swapped. Return on spend holds while budget steps up.
- Revenue ₹37,153
- ROAS 1.90x
- Ad spend ₹19,556
- Month 3
Lookalikes of past buyers are added beside broad prospecting. Budget goes up only as far as return can carry it: return on spend holds while budget holds.
- Revenue ₹40,019
- ROAS 1.92x
- Ad spend ₹20,881
- Month 4
Tired ads are refreshed from the creative bank.
- Revenue ₹40,280
- ROAS 1.88x
- Ad spend ₹21,445
- Month 5
From here the work shifts to keeping ads fresh and bringing buyers back. Budget goes up only as far as return can carry it: return on spend holds while budget holds. Revenue ends below ₹1L, the number this scenario calls for, because budget stops rising where return starts to slip. Each order costs about what it did while learning.
- Revenue ₹40,791
- ROAS 1.86x
- Ad spend ₹21,896
Learnings
Learnings from Jewellery brands we measured
Product-only creatives and carousels, swapped the moment they stopped converting
Audited eight competitors and agreed a three-month case study
Positioned as handcrafted and made to order; led with personalised pieces
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