How do you know if your product is too expensive?

Long story short, we launched a new product nearly two months ago. My partner is active on Instagram and we have spend some money on marketing, and I've been handling the website and google ads campaign which I have optimized and now get a CTR of about 15-18%. Google ads has gotten us nearly 600 clicks up to now (with 5€ per day) but we have gotten no conversions yet! And from Instagram we have spend quite a bit more and gotten 2 conversions, and that's all!

We are starting to wonder if our product is too expensive, as we've gotten very nice reactions online, but very little conversions. How can we find out if the price of the product is scaring people off or if there is something else that results in poor performance?

submitted by /u/TheoreticalPerson
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