#23 How Ours use Paid Ads to grow 48% MoM
plus how to know if Paid Ads are right for your business, CAC and LTV expectations, navigating data regulation and more...
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Anyway…
One of my goals for The Hemingway Report is to share best practices from across the mental health industry.
That tough problem you’re trying to figure out? Someone has probably solved it already. But where is that info? Where is the guide?
I’m on a mission to gather this information and share it in way you can use.
I want to get down in the weeds and give actionable advice - the type of stuff you can take to your team and start implementing today to drive results.
Today is our first post of that kind, and we’re discussing a topic I know a lot of founders grapple with, how (and when) to use paid ads in your mental health startup.
To cover this topic, I’ve been chatting with Adam Putterman, the Co-Founder of Ours and a guy who knows A LOT about paid ads.
Ours is a virtual couples therapy business and they’ve been using paid ads to grow 48% month on month. Very impressive stuff.
In this post Adam shares with me everything he knows about using paid ads in mental health startups. Whether you are just starting out or running a scaling mental health business, this post is full of helpful frameworks, hard earned lessons and little nuggets of wisdom.
We’ll cover;
Why paid ads are not just for growth: How to use Paid Ads to accelerate your path to product market fit and prioritise your product roadmap
If paid ads for you: A framework to assess if paid ads are the right strategy for your product and business
Paid search deep-dive: How Ours use paid search to drive growth, including deep dives on conversion rate optimisation
Conversion rate optimisation: The key to successfully scaling paid ads
CAC and LTV expectations: What’s a good CAC, how to know your LTV and what to do if you don’t
Improving cashflow: Success in paid ads is about more than just CAC:LTV, we discuss the importance of cashflow and how to improve it
How much to spend: A very common question, we discuss a framework for calculating that for yourself
Data challenges: Some of the regulatory challenges of running ads for a healthcare business and the product Ours built (and you can use) to stay compliant whilst maximising performance
This was so great. I’ve been in marketing / BD roles for more than a decade and this was the most informative comprehensive lesson in digital marketing I’ve ever seen / read. A couple of years ago I took a bunch of courses in digital marketing at RMIT and this was 10x more informative. I work in B2B NFP in wellbeing / education sector. So even though this isn’t exactly tailored to that business there is still lots of great lessons I can apply. We’ve tried ads in the past that haven’t been successful and whilst we knew generally why, this post provided a very succinct clarification on exactly what bit we got wrong / hadn’t considered properly. Please can you do more of these for other marketing / growth related topics?