Jewellery case study: ₹1L–₹2L to ₹1.9L 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–₹2L | – | – | – |
| Month 1 | Learning | ₹79,445 | ₹1,49,079 | 1.88x | 83 | ₹957 |
| Month 2 | Scaling | ₹90,158 | ₹1,73,964 | 1.93x | 98 | ₹920 |
| Month 3 | Scaling | ₹1,02,496 | ₹1,90,625 | 1.86x | 110 | ₹932 |
| Total | ₹2,72,099 | ₹5,13,668 | 1.89x | 291 | ₹935 |
Funnel
Funnel, first view to purchase month 3
- Impressions5,49,007
- Link clicks12,6852.31% of impressions
- Landing-page views9,61775.81% of link clicks1.752% of impressions
- Added to cart1,01110.51% of landing-page views0.184% of impressions
- Checkout started32832.44% of added to cart0.06% of impressions
- Purchases11033.54% of checkout started0.02% of impressions
0.02% of impressions became purchases
Mix
Where the budget goes month 3
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| ₹74,787 | 73.0% | 80 | 1.85x | ₹935 | |
| ₹26,306 | 25.7% | 28 | 1.87x | ₹940 | |
| Audience Network | ₹1,403 | 1.4% | 2 | 1.90x | ₹702 |
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Instagram Feed | ₹30,650 | 29.9% | 34 | 1.91x | ₹901 |
| Instagram Reels | ₹28,796 | 28.1% | 31 | 1.86x | ₹929 |
| Instagram Stories | ₹15,341 | 15.0% | 15 | 1.73x | ₹1,023 |
| Facebook Feed | ₹13,978 | 13.6% | 15 | 1.82x | ₹932 |
| Facebook Reels | ₹10,978 | 10.7% | 12 | 1.93x | ₹915 |
| Audience Network | ₹1,403 | 1.4% | 2 | 1.90x | ₹702 |
| Facebook Stories | ₹1,350 | 1.3% | 1 | 1.90x | ₹1,350 |
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Prospecting (cold audiences) | ₹90,964 | 88.7% | 97 | 1.86x | ₹938 |
| Retargeting (warm audiences) | ₹6,883 | 6.7% | 8 | 1.93x | ₹860 |
| Lookalike audiences | ₹2,523 | 2.5% | 3 | 1.81x | ₹841 |
| Advantage+ shopping | ₹2,126 | 2.1% | 2 | 1.86x | ₹1,063 |
Creatives
Creative mix month 3
New ads per month
| Creative type | Tier | Ad spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Catalogue (dynamic product ads) | Moderate | ₹18,658 | 21 | 1.94x | ₹888 |
| Video | Moderate | ₹56,488 | 61 | 1.87x | ₹926 |
| Static image | Moderate | ₹19,647 | 20 | 1.80x | ₹982 |
| UGC / creator video | Moderate | ₹4,618 | 5 | 1.78x | ₹924 |
| Carousel | Watchlist | ₹3,085 | 3 | 1.58x | ₹1,028 |
How we run it
How we run it, why, and how it works
Research & offer Month 1
What we do
We start with creative and content, which the brand in this scenario named first, before anything else on this smaller store. 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. 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–₹2L to ₹5L (3.3x). That pace is within what the fastest tenth of our measured accounts reached over the same time. The main problem in this scenario is creative and content. Every rupee of ads is capped by how well the store turns visits into orders. The audit positions the brand in this scenario against the alternatives buyers are weighing.
How it works
Fixes are listed and handed over early, so later budget lands on a store that converts. The audit sets the creative and site work for the first weeks.
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–₹2L to ₹5L, 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
It did not report a return on ad spend, so the case study starts from what measured jewellery stores of that size hold. The brand in this scenario also asked for a return on ad spend of 3x+; the case study ends below that. Return gives way as spend rises, so that return and this revenue do not come together in the time. The ad platform's own count runs high, so the store's count is the one that moves budget. A missed month shows up early instead of at the end of the case study.
How it works
Every budget call starts from the store's orders. Written monthly numbers make each scaling decision explicit. 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 a 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 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. A fixed window stops spend chasing a creative before it has been read. Video built on trust was the format that held return in most measured accounts.
How it works
Creatives are rotated on conversion, not on a calendar. Only ads that convert inside the window keep running. Weak UGC is swapped for founder-led video rather than scaled. 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 ₹5L: the budget rises gently while return holds, and Instagram Feed carries the most spend and Instagram Reels the next. We scale into the festive and wedding calendar with seasonal collection campaigns. We raise budget only while return on spend holds, and cut it when return drops.
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
Spend shifts into each season and between regions with the calendar. Each month's budget is set by the return the last one earned. Most of the final month's spend sits on Instagram Feed, then Instagram Reels. Prospecting to new buyers takes the bulk of spend, while retargeting returns more for each rupee.
Milestones
Milestones by month
- 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. The competitor audit is shared and the creative brief agreed.
- Revenue ₹1.5L
- ROAS 1.88x
- Ad spend ₹79,445
- Month 2
Scaling starts: each budget move is read against the return it bought. Budget is raised only as far as return allows: spend steps up, and return holds.
- Revenue ₹1.7L
- ROAS 1.93x
- Ad spend ₹90,158
- Month 3
The seasonal collection campaign leads this period's spend mix. Budget is raised only as far as return allows: spend steps up, and return holds. ₹5L is not reached in the time, because budget stops rising where return starts to slip. Cost per purchase ends close to the learning phase. The final return on spend is below the 3x+ this scenario calls for.
- Revenue ₹1.9L
- ROAS 1.86x
- Ad spend ₹1L
Learnings
Learnings from Jewellery brands we measured
Fix the store before scaling: trust pointers, reviews, return window, about page, prepaid incentive, bundle and cart-value offers.
Video carries most creative spend in measured accounts across all industries.
New product pieces and post-Diwali product tests from fresh creative
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