How to market a product which sales at an extremely low price?? Say about $2 or $2.50.
Every scenario that I can imagine in order to run a campaign for it, needs atleast $15 - $20 in adwords or fb ads.
What should be the correct business strategy for this?
I didn't understand here. $15 for running a campaign, right? So, it for a single conversion?
If so then I would suggest don't dive in PPC campaigns they can be unnecessarily expensive. Go for exposure through CPM ones.
And the general idea to market any product is to target them through correct audience and demographics.
Yes it would have cost $15-$20 for one conversions.
Don't go for granular approach, what I mean is don't go for leads. Go for a a more broader approach. Target mass. In this type of situations you can only make profit when you get sales in a bulk or multiple amounts.
Think of the TV commercials. They cost tens of thousands of a dollars for 30 second ad but they sell a $50 diaper. How do they do it? They are targeting mass here not individuals.
Well CPM campaigns help? I mean PPC are very costly from what I am seeing.
Well, its your choice after all.