ChatGPT ad targeting is garbage

I have been experimenting with buying ChatGPT ads for my event seating assignment software. Here are the overall results from 05-Aug-2026 to 28-Aug-2026: Total spend on ChatGPT ads£289.52 Total clicks2,988Average CPC£0.10 Average time on page (Google analytics)7s Bounce rate (Google Analytics)69%Total installs (Google Analytics)14Conversion rate (click to install)0.46%Cost per conversion£20.68 ChatGPT recommends bidding somewhere around by £2 per click, but I bid between £0.15 and £0.07 and was still able to get traffic. However 0.46% is a shockingly low conversion rate. Given what I know about the lifetime customer value and install to purchase rates for PerfectTablePlan, I’m not close to making any money on these ads. Comparing engagement with other sources in the same period: MetricChatGPT ads (paid)Google ads (paid)ChatGPT referrals (free)Average time on page (Google Analytics)7s20s23sBounce rate (Google Analytics)69%46%39%Conversion rate0.46%5.3%4.2% So the problem is clearly the…