I'd let it run for a week, or $100... whichever comes first. I usually get a good feel from the first three days, but I like to give them a chance.
It all depends on what product you are trying to sell. If it is a $5 per lead then you should try around $50 to test it but if it is a large $100-$250 offer than I would try at least $100-150 before I would say whether it is convertible or not.
I have tried a budget of 85 euros at a loss. I had some conversions but less than 50%. Would you still see hope? I didn't really fine tune anything.
depends on what I will make back... I will spend hundreds or thousands to test a campaign and gather data before optimizing to make it turn a profit. Here are a couple of check marks 1. let it run for at least 100 - 200 clicks, if no conversions then find out if there is something wrong like bad links or improper tracking code... affiliate is down something. If I find an error then try again 2. If I get conversions, I will try to collect between 10 - 100 conversions, depending on niche and conversion frequency, and I will collect the conversions even at a loss, just to gather data 3. once I have enough conversion to see conversion patterns, then I start optimizing my campaigns to meet my min ROI goals. By this phase I could have lost $100 or $1000. But I have enough data to make proper campaign adjustments to start turning a profit
Thanks robert that is very clear and informative. I have tried my first campaign and spent 85 euros and converted about 40 euros. The problem is that I had 1000's of keywords and about 350 clicks. Conversion rate was something like 1.25%. I created another campaign now and filtered lots of countries out that did not convert. Do you think I am taking decisions on too little data? (I had about 4 conversions).
well I always start 20 $ a day and see what will happen ? How many sales, how many questions asked by email for that product and try to make it a little better with keywords...
I think it's better to go by number of clicks rather than amount spent. I usually let ad group run for 100-300 clicks and see how it converts.