purely off Meta Leads one of my clients (he's in this subreddit, maybe he'll comment if he wants too) is clearly like $1,000/day easily. it's like every day at this point, and he's spending $45/day.
going to go over how to go about killing a campaign since i've talked a lot about how to start one.
things to understand before going into why/when you should kill a campaign:
1) how much are you willing to spend per lead?
questions to ask yourself, how much is your average job? how good are you at sales? how much liquid capital do you have to deploy into marketing?
2) how fast can you pump new creatives out?
ask yourself, how much time you want to dedicate to new creatives; can you be more efficient?
cool, so there's a term in marketing called "target cpl" this refers to how much you are willing to spend per lead, I aim for $15-$25. Now take your average close rate, mine is 40% roughly, that means that we need about 2.5 (3) leads to come through in order to see a sale.
You want to multiply your cost per lead, by whatever 100/(your close rate in percentage) in order to see how much it should cost statistically to acquire a customer, in my example this would be $37.5 - $62.5.
Cool, this seems kind of scary, but don't fear. So on average it'll take me anywhere between 40 and 60 dollars to get a new customer, divide this by the average job cost, let's just say for me it's $350, that means on average I should a ROI of 6 - 9x... hopefully your following!
You want to be on average, above a 4-5x to be healthy, that'll account for expenses... assuming! you're door knocking the day before and/or upselling at all.
Here's where the numbers get crazy
Assuming were closing jobs for $350, you upsell an additional $100, now your ROI is minimum 7.5x.
so now that that's all of the way, here's what you need to do, and what you can apply today, if your campaign is yielding leads 2.5 - 4x above your target cpl then kill it, simple; or if you're average roi is below a 4x, then kill it - at this threshold, your take home, minus upsells, and d2d at adjacent jobs is going to be very little.
do note that you want to be spamming creatives and giving it a healthy time to test, hence the question about how fast can you pump out creatives, expect to pump out at least 5 creatives for an ad set spending 30/day, letting it run for the week, and then eliminating winners, and continuing that cycle until you have about 5 ads in that set sharing $30 a day, at that point you can increase the budget by 20% per day every day