Jewellery case study: ₹1L to ₹1.6L monthly revenue in 2–3 months
Case study
Month by month
Revenue by month
| Month | Phase | Ad spend | Revenue | ROAS | Purchases | Cost per purchase |
|---|---|---|---|---|---|---|
| Start | – | – | ₹1L | – | – | – |
| Month 1 | Learning | ₹52,163 | ₹1,02,740 | 1.97x | 45 | ₹1,159 |
| Month 2 | Scaling | ₹74,685 | ₹1,41,548 | 1.90x | 60 | ₹1,245 |
| Month 3 | Scaling | ₹84,641 | ₹1,64,136 | 1.94x | 69 | ₹1,227 |
| Total | ₹2,11,489 | ₹4,08,424 | 1.93x | 174 | ₹1,215 |
Funnel
Funnel, first view to purchase month 3
- Impressions4,27,248
- Link clicks8,5392% of impressions
- Landing-page views6,98881.84% of link clicks1.636% of impressions
- Added to cart5798.29% of landing-page views0.136% of impressions
- Checkout started18932.64% of added to cart0.044% of impressions
- Purchases6936.51% 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 |
|---|---|---|---|---|---|
| ₹63,255 | 74.7% | 51 | 1.94x | ₹1,240 | |
| ₹21,386 | 25.3% | 18 | 1.95x | ₹1,188 |
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Instagram Feed | ₹26,009 | 30.7% | 22 | 1.99x | ₹1,182 |
| Instagram Reels | ₹23,189 | 27.4% | 19 | 1.95x | ₹1,220 |
| Instagram Stories | ₹14,057 | 16.6% | 10 | 1.81x | ₹1,406 |
| Facebook Feed | ₹13,371 | 15.8% | 11 | 1.91x | ₹1,216 |
| Facebook Reels | ₹8,015 | 9.5% | 7 | 2.02x | ₹1,145 |
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Prospecting (cold audiences) | ₹70,618 | 83.4% | 57 | 1.93x | ₹1,239 |
| Retargeting (warm audiences) | ₹8,515 | 10.1% | 7 | 2.01x | ₹1,216 |
| Lookalike audiences | ₹3,212 | 3.8% | 3 | 1.88x | ₹1,071 |
| Advantage+ shopping | ₹2,296 | 2.7% | 2 | 1.94x | ₹1,148 |
Creatives
Creative mix month 3
New ads per month
| Creative type | Tier | Ad spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Catalogue (dynamic product ads) | Moderate | ₹15,555 | 13 | 2.02x | ₹1,197 |
| Video | Moderate | ₹46,724 | 38 | 1.95x | ₹1,230 |
| Static image | Moderate | ₹16,434 | 13 | 1.88x | ₹1,264 |
| UGC / creator video | Moderate | ₹3,702 | 3 | 1.86x | ₹1,234 |
| Carousel | Watchlist | ₹2,226 | 2 | 1.64x | ₹1,113 |
How we run it
How we run it, why, and how it works
Research & offer Month 1
What we do
We set up the base for a smaller jewellery store before any budget rises. We open with three documents: a website audit, a creative brief and a media schedule by month. 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 2–3 months, from ₹1L to ₹2Cr (200x). 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. No single problem was named; the case study works from the figures instead. A written brief gives every later budget decision a reference point. Conversion rate caps what any ad budget can return.
How it works
All three are shared with the brand's team before any budget step. The fix list goes to the brand's team in the opening weeks, ahead of any budget step.
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 ₹1L to ₹2Cr, 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
No starting return on ad spend was given; the starting return is what measured jewellery stores of that size hold. The ad platform's own count runs high, so the store's count is the one that moves 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. Where return slips too far, the month keeps last month's budget.
Creative testing Month 1
What we do
We test with video, catalogue ads and static image 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. The learning month runs at a low daily budget and moves up only when orders come through. We work in creative batches with a fixed read window each.
Why
Jewellery buyers decide on the piece, and fatigue sets in fast. The first rupees are for finding the buyer, not for volume. The read window keeps creative spending tied to evidence.
How it works
Creatives are rotated on conversion, not on a calendar. Only confirmed orders at the low budget unlock the next step. Losing batches stop; winning ads take their budget. More spend buys more new ads, led by video ahead of catalogue ads.
Scaling Month 2 to 3
What we do
Through Month 2 to Month 3, we push toward ₹2Cr: the budget rises gently while return holds, and Instagram Feed carries the most spend and Instagram Reels the next. We tie every budget increase to return: we step up while it holds, and step back when it drops. We put seasonal collection campaigns in front of each festive and wedding peak.
Why
Across Month 2 to Month 3, the budget rises gently, while return on spend holds. Budget is part-stepped in two of these months, taking only what return can carry. Each budget step here is sized so that return stays close to where it was. Seasonal demand moves by region, so the spend does too.
How it works
Budget follows return month to month instead of a fixed ramp. Budget moves between regions as the calendar turns. Most of the final month's spend sits on Instagram Feed, then Instagram Reels. Cold audiences take most of the budget; warm audiences return more per rupee.
Milestones
Milestones by month
- Month 1
The learning phase opens: 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 store fix list is live, with reviews on product pages and a prepaid offer.
- Revenue ₹1L
- ROAS 1.97x
- Ad spend ₹52,163
- Month 2
Scaling starts: the seasonal collection campaign leads this period's spend mix. Budget is raised only as far as return allows: budget steps up and return on spend holds.
- Revenue ₹1.4L
- ROAS 1.90x
- Ad spend ₹74,685
- Month 3
A new batch goes live after the last one is read. Budget is raised only as far as return allows: budget steps up and return on spend holds. ₹2Cr 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 ₹1.6L
- ROAS 1.94x
- Ad spend ₹84,641
Learnings
Learnings from Jewellery brands we measured
Audited eight competitors and agreed a three-month case study
Product-only creatives and carousels, swapped the moment they stopped converting
Positioned as handcrafted and made to order; led with personalised pieces
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