Reply from LaunchBoomOct 25, 2023
Hey Emily,
We appreciate the feedback!
The team is very grateful to have worked with you and proud of the work done on your Rise Centered campaign.
We'd love more clarity about the lack of transparency regarding budget (I sent you a message about this two days ago and am still waiting for a response).
I looked back through emails and talked to the team and have gathered this sequence of events:
1. You started ads on May 8th and asked "I was also curious if you could share with me a budget estimation for the completion of this course, through the end of the Kickstarter. I am hoping to dial in my budget and get a sense of if I will need additional initial funding for this project." via email
2. Hera responded on May 9th that you'd talk through the specific ad budget and campaign goals over the next few weeks, but it would be dependent on your campaign goals and you both could start chatting through things the next week
3. On June 13, we had the pre-scaling meeting where based on your campaign goals, you had mentioned you were planning to spend around $20-$30k, and we built a projection model out for a $100k campaign with $30k in ad spend, and you were in line with achieving those performance metrics
There's a document titled "Rise Centered - CPR Calculator" that you have access to. This ended up being close to your final ad spend.
Was that part of the ad budget not clear? Or was there something we could have done better here?
Also, to add more clarity to why we don't answer budget questions outright, it is not to mislead.
It is because we can't give an accurate response if we don't have two key pieces of information:
1. Your financial goals: we need to know how much you want to raise.
2. Your initial ad testing data: we need to know what your ad metrics look like (CPR + CPL) to be able to work backwards and give you a budget projection that's actually based on data.
This is why Hera answered the question originally in that way and when we had the right information, we built out a projection model to give you a more accurate idea of what budget would be.
In terms of Jellop, was that experience not good? I don't understand how incentives were misaligned. We don't take commission and have no kickback from making that introduction. Can you provide more details?
Thank you for any clarification you can give! Also, if you'd rather jump on a call to discuss, I'm always open to that as well – [email protected].
Best,
Mark Pecota | CEO