Brajet
Emerald
- DOLLAR$
- $16,778.14
Thought this was a straight forward statistics question but can't find a straight answer on the internet.
So assuming 2% conversion rate is the actual rate, according to this I would need 3012 clicks to have 95% confidence with margin of error at 0.5%.
Given the cost per view for my new campaign on is running at >£1.50, is the only way to find out burning through £4.5k first?
Context: Going into a new product category as a new small business, with no prior selling experience or data. I don't feel confident scaling up if I don't have a fairly good idea on CTA and AOVs. If this is the reality, I'm not sure how a small budget can work unless it's a "pay and pray".
So assuming 2% conversion rate is the actual rate, according to this I would need 3012 clicks to have 95% confidence with margin of error at 0.5%.
Given the cost per view for my new campaign on is running at >£1.50, is the only way to find out burning through £4.5k first?
Context: Going into a new product category as a new small business, with no prior selling experience or data. I don't feel confident scaling up if I don't have a fairly good idea on CTA and AOVs. If this is the reality, I'm not sure how a small budget can work unless it's a "pay and pray".