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Why do ads stop working after repeated exposure?

Performance drops when users see ads too often.

S: At 3.4 and rising, the LTV:CAC ratio sits comfortably above the standard efficiency threshold. C: Ad platforms allocate delivery to the path of least resistance toward the conversion objective. I: At a frequency of 6.8 against a reach growth rate of four percent, the program is delivering 1.7 new unique users for every impression that reaches an existing one.