Jewellery case study: ₹10,000 to ₹32,378 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 | – | – | ₹10,000 | – | – | – |
| Month 1 | Learning | ₹4,626 | ₹10,043 | 2.17x | 4 | ₹1,156 |
| Month 2 | Scaling | ₹13,793 | ₹26,571 | 1.93x | 9 | ₹1,533 |
| Month 3 | Scaling | ₹17,018 | ₹32,378 | 1.90x | 12 | ₹1,418 |
| Total | ₹35,437 | ₹68,992 | 1.95x | 25 | ₹1,417 |
Funnel
Funnel, first view to purchase month 3
- Impressions69,561
- Link clicks1,2311.77% of impressions
- Landing-page views95477.5% of link clicks1.371% of impressions
- Added to cart12413% of landing-page views0.178% of impressions
- Checkout started3528.23% of added to cart0.05% of impressions
- Purchases1234.29% of checkout started0.017% of impressions
0.017% of impressions became purchases
Mix
Where the budget goes month 3
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| ₹12,539 | 73.7% | 9 | 1.90x | ₹1,393 | |
| ₹4,479 | 26.3% | 3 | 1.91x | ₹1,493 |
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Instagram Reels | ₹5,535 | 32.5% | 4 | 1.91x | ₹1,384 |
| Instagram Feed | ₹4,551 | 26.7% | 3 | 1.95x | ₹1,517 |
| Facebook Feed | ₹2,638 | 15.5% | 2 | 1.87x | ₹1,319 |
| Instagram Stories | ₹2,453 | 14.4% | 2 | 1.77x | ₹1,226 |
| Facebook Reels | ₹1,841 | 10.8% | 1 | 1.98x | ₹1,841 |
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Prospecting (cold audiences) | ₹15,214 | 89.4% | 11 | 1.89x | ₹1,383 |
| Retargeting (warm audiences) | ₹1,804 | 10.6% | 1 | 1.97x | ₹1,804 |
Creatives
Creative mix month 3
New ads per month
| Creative type | Tier | Ad spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Catalogue (dynamic product ads) | Moderate | ₹2,937 | 2 | 1.97x | ₹1,468 |
| Video | Moderate | ₹10,590 | 8 | 1.91x | ₹1,324 |
| Static image | Moderate | ₹3,491 | 2 | 1.83x | ₹1,746 |
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 reaching new buyers, so the opening month on this smaller store goes there. Before budget rises, we close the gaps that stop a visitor buying: missing reviews, an unclear return window, no about page and no prepaid incentive. We lead with craft: handcrafted or made-to-order positioning, with personalised pieces up front.
Why
In this case study, a smaller jewellery brand grows monthly revenue in 2–3 months, from ₹10,000 to ₹1L+ (10x). Nine in ten of the accounts we measured grew more slowly than that in the same time; the case study is built on what the fastest tenth reached, and shows the gap to the agreed number honestly. The main problem was reaching new buyers, followed by buyer trust. Conversion rate caps what any ad budget can return. Jewellery buyers decide on the piece and the story behind it.
How it works
The fix list goes to the brand's team in the opening weeks, ahead of any budget step. Personalised pieces open the prospecting ads.
Measurement & reviews Month 1 to 3
What we do
We keep a shared daily sheet with the ad platform's revenue next to real store orders. We write month-by-month revenue numbers with the brand's team that climb from ₹10,000 to ₹1L+, and open every review with the month-to-date number against them. We set a written rule: no budget step in a month where return falls too far to pay for it.
Why
With no return on ad spend reported, the case study begins at the level measured jewellery stores of that size hold. 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
The sheet is read before each budget change. Each budget step is argued against the written number. A month whose return slips past that point keeps its budget instead.
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. We run creator, customer-feedback and founder-led video. We show the piece: product-only singles and carousels, swapped the moment they stop converting. We buy creative in batches and give each batch a fixed read window before buying more.
Why
In most accounts we measured, video that carried trust held its return. Jewellery buyers decide on the piece, and fatigue sets in fast. The read window keeps creative spending tied to evidence.
How it works
Weak UGC is swapped for founder-led video rather than scaled. Creatives are rotated on conversion, not on a calendar. Only ads that convert inside the window keep running. 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 ₹1L+: the budget climbs in steps and return falls, and Instagram Reels carries the most spend and Instagram Feed the next. We build lookalikes from past buyers once purchases are steady, beside broad prospecting. We scale into the festive and wedding calendar with seasonal collection campaigns.
Why
In Month 2 to Month 3 the budget climbs in steps, and return on spend falls as it does. In two of these months the step is trimmed to the size return can hold. In measured accounts, scaling spend raised cost per order and lowered return on spend, so each step waits for return to hold. Past buyers are the clearest signal of who buys next.
How it works
Lookalike and broad audiences run the same ads, so they can be compared. Spend shifts into each season and between regions with the calendar. In the final month, Instagram Reels takes the most spend and Instagram Feed the next most. Most spend reaches people who have not bought yet; past visitors return more per rupee.
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. Personalised pieces lead the prospecting ads. Store fixes go live: reviews, trust pointers and the prepaid offer.
- Revenue ₹10,043
- ROAS 2.17x
- Ad spend ₹4,626
- Month 2
Scaling begins: new creator and customer-feedback videos join the account. The budget step stops where return starts to slip: budget more than doubles and return on spend dips.
- Revenue ₹26,571
- ROAS 1.93x
- Ad spend ₹13,793
- Month 3
The seasonal collection campaign leads this period's spend mix. The budget step stops where return starts to slip: budget steps up and return on spend holds. The case study finishes short of ₹1L+: budget stops rising where return starts to slip. Cost per purchase ends higher than in the learning phase.
- Revenue ₹32,378
- ROAS 1.90x
- Ad spend ₹17,018
Learnings
Learnings from Jewellery brands we measured
Product-only creatives and carousels, swapped the moment they stopped converting
Build around the festive and wedding calendar: seasonal catalogue or collection campaigns, regional audiences for regional festivals, and pausing regions during regional observances.
Fix the store before scaling: trust pointers, reviews, return window, about page, prepaid incentive, bundle and cart-value offers.
Services: Performance marketing Ads video creation Jewellery marketing guide Book a call
More Jewellery case studies
Ready to grow with one team?
Book a call. If we can help you grow, we show you how; if we cannot, we tell you that too.
