Product Launch Failed - Need Some Advice

Just did a 3 week product launch that failed.

Spent $590 on ads and got 193 onto a waitlist with 104 moving into a private Telegram group. We averaged $3 roughly per lead mainly from a retargeting campaign.

We launched on the 14th to the Telegram group and waitlist + an existing email list of 5,000 and 0 people brought, even though they showed a lot of interest earlier in the launch.

The offer is for a low-ticket recurring model using a Skool community. We started at $99/mo and thought it may have been a pricing issue so we dropped to $29/mo and still no one is buying.

We are now running direct response ads to the Skool about page, and still no one has purchased - we have only spent about $100 on this campaign so far. We have 3 x campaigns running: 1 Retargeting, 1 lookalike and 1 cold audience interest, $20/day spent on each.

Can anyone tell me why this launch may have totally bombed and no one is buying? I thought it could've been an offer issue but we did a survey early on and got 54 people from the audience to fill it out telling us what they're struggling with and what they want - and we gave them exactly that. But still, no one bought.

Any help would be greatly appreciated on how to move forward from here. I'm at a loss. Happy to provide more info if needed

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