I am about to launch into a new skincare label. I am a little wary about the best potential advertising platforms for this offer, as its a very competitive market. Adwords has been taken by most of the major brands and therefore the CPC would be extremely high in this market. After crunching some metrics, I would need to keep my CPC on Facebook or Adwords at $0.60 or lower to make a profit on the front-end, converting at 2%. Looking for an advice.
There are Facebook advertising techniques that would allow you to target competitors followers, related beauty or skincare pages followers then target them with your advert going to a landing page with a buy now unmissable offer to capitalise on your conversions. Because most people do not buy first time, I would then re-target them with the offer on their Facebook newsfeed so they do not forget you, adding to your conversion. Facebook is by far the cheapest for adverts Google would be crazy prices for this type of product. You could also look at placing with affiliates and let them do all of the marketing work and your cost would be fixed, but there is a lot of competition for affiliates in this sector so maybe difficult. If done right on Facebook with a laser targeted campaign with landing page you should be looking at $0.25 to $0.30 per 1,000 views with a decent conversion making the cost per conversion very low. When you target people you know would be interested in your product it is always best to do a CPM campaign rather than a CPC as this is a waste of money, if launching this product there is no market price other than competitors products so you can show it as a high price then do a landing page with a launch offer only available for a limited time with a count down clock, even offer referral discounts if they share on Facebook.
Hope this helps