Jewellery case study: ₹3L to ₹3.9L monthly revenue in 3 months
Case study
Month by month
Revenue by month
| Month | Phase | Ad spend | Revenue | ROAS | Purchases | Cost per purchase |
|---|---|---|---|---|---|---|
| Start | – | – | ₹3L | – | – | – |
| Month 1 | Learning | ₹1,58,651 | ₹2,99,131 | 1.89x | 169 | ₹939 |
| Month 2 | Scaling | ₹1,74,559 | ₹3,45,472 | 1.98x | 190 | ₹919 |
| Month 3 | Scaling | ₹2,03,774 | ₹3,93,733 | 1.93x | 216 | ₹943 |
| Total | ₹5,36,984 | ₹10,38,336 | 1.93x | 575 | ₹934 |
Funnel
Funnel, first view to purchase month 3
- Impressions10,77,870
- Link clicks20,5691.91% of impressions
- Landing-page views16,13278.43% of link clicks1.497% of impressions
- Added to cart1,94912.08% of landing-page views0.181% of impressions
- Checkout started52126.73% of added to cart0.048% of impressions
- Purchases21641.46% 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 |
|---|---|---|---|---|---|
| ₹1,47,017 | 72.1% | 156 | 1.93x | ₹942 | |
| ₹54,017 | 26.5% | 57 | 1.94x | ₹948 | |
| Audience Network | ₹2,740 | 1.3% | 3 | 1.97x | ₹913 |
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Instagram Reels | ₹62,594 | 30.7% | 67 | 1.94x | ₹934 |
| Instagram Feed | ₹56,099 | 27.5% | 61 | 1.98x | ₹920 |
| Facebook Feed | ₹30,095 | 14.8% | 31 | 1.90x | ₹971 |
| Instagram Stories | ₹28,324 | 13.9% | 28 | 1.80x | ₹1,012 |
| Facebook Reels | ₹20,852 | 10.2% | 23 | 2.01x | ₹907 |
| Facebook Stories | ₹3,070 | 1.5% | 3 | 1.97x | ₹1,023 |
| Audience Network | ₹2,740 | 1.3% | 3 | 1.97x | ₹913 |
| Segment | Ad spend | Share of spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Prospecting (cold audiences) | ₹1,75,818 | 86.3% | 186 | 1.93x | ₹945 |
| Retargeting (warm audiences) | ₹17,433 | 8.6% | 19 | 2.01x | ₹918 |
| Lookalike audiences | ₹5,685 | 2.8% | 6 | 1.88x | ₹948 |
| Advantage+ shopping | ₹4,838 | 2.4% | 5 | 1.93x | ₹968 |
Creatives
Creative mix month 3
New ads per month
| Creative type | Tier | Ad spend | Purchases | ROAS | Cost per purchase |
|---|---|---|---|---|---|
| Catalogue (dynamic product ads) | Moderate | ₹40,624 | 45 | 2.02x | ₹903 |
| Video | Moderate | ₹1,09,507 | 117 | 1.95x | ₹936 |
| Static image | Moderate | ₹38,282 | 39 | 1.87x | ₹982 |
| UGC / creator video | Moderate | ₹9,001 | 9 | 1.85x | ₹1,000 |
| Carousel | Watchlist | ₹6,360 | 6 | 1.64x | ₹1,060 |
How we run it
How we run it, why, and how it works
Research & offer Month 1
What we do
We give the first month to return on ad spend, the brand’s main problem, on a smaller base. 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 ₹3L to ₹15L (5x). Our fastest-growing tenth of measured accounts reached that pace in the same time. The main problem was return on ad spend. 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
The fix list goes to the brand's team in the opening weeks, ahead of any budget step. The audit sets the creative and site work for the first weeks.
Measurement & reviews Month 1 to 3
What we do
We write month-by-month revenue numbers with the brand's team that climb from ₹3L to ₹15L, and open every review with the month-to-date number against them. We track ad-platform revenue beside store orders in a shared daily sheet. We set the numbers on net sales after returns and cancellations, not on logged revenue.
Why
No starting return on ad spend was given; the starting return is what measured jewellery stores of that size hold. A shortfall is caught in the month it happens, not at the end. Platform attribution over-counts, so budget decisions sit on the store-side number.
How it works
Written monthly numbers make each scaling decision explicit. Budget decisions are read off store numbers, not the ad platform alone. Each review opens with net sales against the month's number.
Creative testing Month 1
What we do
We lead the testing layer with video, catalogue ads and carousel, building to about two dozen new ads a month by the final month, with carousel watched closely since it returns less than the rest. We show the piece: product-only singles and carousels, swapped the moment they stop converting. We run static images next to the video ads. 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. Among the jewellery accounts we measured, static image was the format most often in the top creative tier. 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. Statics are added after a video wins. UGC that underperforms is replaced by founder-led video, not given more 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 ₹15L: the budget rises gently while return holds, 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 put seasonal collection campaigns in front of each festive and wedding peak.
Why
In 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. Demand is seasonal and regional, so spend moves with the calendar.
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 Reels, then Instagram Feed. Most spend reaches people who have not bought yet; past visitors 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. Reviews, trust pointers and the prepaid incentive are now on the store.
- Revenue ₹3L
- ROAS 1.89x
- Ad spend ₹1.6L
- Month 2
Scaling starts: the seasonal collection campaign leads this period's spend mix. Budget goes up only as far as return can carry it: return on spend rises while budget steps up.
- Revenue ₹3.5L
- ROAS 1.98x
- Ad spend ₹1.7L
- Month 3
New creator and customer-feedback videos join the account. Budget goes up only as far as return can carry it: return on spend holds while budget steps up. The case study finishes short of ₹15L: budget stops rising where return starts to slip. Cost per purchase ends close to the learning phase.
- Revenue ₹3.9L
- ROAS 1.93x
- Ad spend ₹2L
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.
Build around the festive and wedding calendar: seasonal catalogue or collection campaigns, regional audiences for regional festivals, and pausing regions during regional observances.
Handed over a 13-point site fix list: prepaid offer, testimonials, a three-day return window, an about page, no permanent sale prices
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