What's a "good" lead price on meta ads?
So i've launched my first experimental ad campaigns on meta ads and i'm really not sure how to gauge what's "good" or not.
I've had two campaigns so far, in which i collect leads through a basic insta form of "first name" and "email address":
Campaign 1: generated 18 leads for like $109.00 in spend. Yikes--yes, i realize that's crazy expensive. Like $6.00+ / lead.
Campaign 2: Launched a day or so after the first campaign with better creatives and that's generated leads at a rate of about 50 / day; costing about $0.70 each.
Obviously campaign 2 is performing better than campaign 1, but is it considered "good" yet? After all, these are leads requiring absolute minimal personal investment, so it's unclear as to the quality of these leads yet.
The category of my product is in apparel and accessories. AI seems to think this is good, but AI also tends to be a 'yes' man and has a limited scope of insight into reality.
Thoughts?