How to get CPM / CPC / CPI before launch?
Believe that the calculation of ROI (or LTV/CAC) per each marketing channel is one of the most important steps on the way to build a sustainable financial model.
My goal to make psychotherapy affordable in Ukraine, that's why I'm going to build a mobile app.
By searching, I was able to find avg conversion rates for my domain. After analysis dozens of posts found CPC/CPT rates for Google Ads, Apple Search Ads (Advanced), Facebook with targeting to Ukraine. But it's far from enough ...
Bunch of targeted sites and forums was able to provide me CPMs (with CTRs), unfortunately, they were considered too risky due to low LTV/CAC.
Couldn't find any suitable app for direct advertising with targeting to my country :(
Projection of campaign efficiency with Instagram influencers is also risky when you have a capped budget. Keep them for the future.
The easiest solution - stick to the CPI model and use ad networks like AdColony, Tapjoy, Fyber etc. Not really easy. How to get avg CPI for my region? Need 3rd party platforms (attribution platform) to track installs. Also from my experience the CPI model is highly affected by fraudulent traffic, which may force to use the attribution platform (like Appsflyer) and will increase CAC.
What is your strategy to project ROI (or LTV/CAC) across marketing channels before launch? How do you boil mobile app marketing? Interesting to hear your stories👂
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Not familiar with the mental health industry in Ukraine and your exact business model (flat fees or varied therapist-set pricing), however I feel like you might be jumping ahead a bit. I would go about this the other way round: cost of a session in-person and how many sessions avg client would do (LTV). And what % cut would the MH professional be comfortable sharing with you. Then that's ~ your max budget for acquiring one client.
For example: $100USD * 4 * 10% = 40USD (assuming no Apple tax)
Pricing question around affordability:
Hope this helps!
Thank you for your reply, and even reasoning about the business model! Need to mention that business model based on subscription. I've already defined my in-app conversion rate based on UI, made customer and therapist retention forecast to understand cashflow, with a subscription it can be a bit tricky.
I understand that your example is simplified, but there is additional expense item like development cost, which can be paid back only after reaching some number of subscriptions per month and having adequate customer acquisition cost. CAC is the biggest blind spot.
"Are therapists in Ukraine currently not filling their slots and are willing to cut prices, e.g. Airbnb helps vacant houses generate revenue?"
Going to provide chat with a therapist, there is no settled price for such service on the country market.
"How many additional virtual clients can a MH professional take on? This directly affects the cost of onboarding each professional."
My lowest projection is 10, but US alternatives show a higher number. Based on therapist capacity was projected how many users should be fetched, as a result - calculated marketing spends.
"In some parts of the world, reputable therapists' schedules are packed to the point they rarely take on new clients, which makes this particular business model difficult to execute sustainably (or rely venture funding)."
Yeah, you 100% right, but there a lot of specialists with 2-5 years practicing, who still flexible.
Really excited for you!
We can sort of guess the upper bounds based on the time cost of a therapist/specialist. If therapist already have in-person clients, they will naturally do a cost-benefit analysis of whether they can make more in-person vs through your app.
What's the feedback from therapists in your country so far? What kind of revenue share are they comfortable with?
Depending on your country's regulations, there could also be legal implications around the sensitive nature of this type of service, and therapists might have concerns about liability/insurance, etc.
It's always hard to ask such type questions because people prone to overestimate or even dreaming about comfortable conditions. I've compiled a survey and going to aks around 3k therapists, but decided to not put this or similar questions to a questionnaire, maybe I'm wrong.
Yeah, because of the regulators - going to start from developing countries.