Very early on in otherwise successful TikTok campaign, huge drop off in stats. What should I think?

[pinacepins]

Hey friends, first post in the community. I have a Tik Tok campaign very early on in it's life currently promoting https://www.pin-ace.com/products/custompride. On Saturday I tried scaling the ad spend up from the minimum $50 to $200/day and got some very encouraging results: a 2.8 ROAS based on a 1.86 conversion rate. Monday is when I saw the first weird thing: my conversion rate when up to 2.45% but my ROAS dipped to 2.035 and my sessions dropped by 40%. Today though, the real bombshell dropped: My conversion rate TANKED to 0.59%, the rest of my funnel dropped by 45-50%, but my sessions stayed steady, resulting in an ROAS of 0.6. 

I was hearing some complains on the Tik Tok I was advertizing that people thought the pins were too expensive, but it was because they were seeing the CAD price. The Geolocation App wasn't changing their region and I tried to implement a workaround so the currency converter was in the header rather than the footer (hopefully allowing people to notice they had the wrong currency set). I had reverted that change by 11am though, because I noticed the drastic shift in the numbers. The day never recovered though. Now I don't know what to think what might be the problem. Is it typical for the results of a campaign to start so strong and drop off so quickly? Is it because it's Tuesday and things will pick up again by the weekend? Is it because my creative is stale already and I need to be actively changing it every two days or so? Why did my CPM double between Sunday and Monday? Is it because the Tik Tok campaign is still in it's "learning phase" and today it was learning what not to do, and will hopefully right itself soon? Should I pull the plug?

[pinacepins]

My results have continued through yesterday and today. Still hovering around a 8% add to cart, 4% initiate checkout and a 0.9% conversion. Compared to 9%, 3.5%, and 2% respectfully on the first two days of the campaigns. ROAS has hovered around 0.6 since Wednesday. My sessions are way down but that's because the CPM ballooned to 9.5 compared to 4.75 on the first three days of the campaign. Can someone please provide me some insight on what might be causing this?

[pinacepins]

Hello? Is anyone out there who can help?

[upringagency]

Do you have retargeting campaigns active on other channels? You can try to use TikTok as a TOF channel and use Facebook/IG for MOF and BOF.

[pinacepins]

We are trying but we can't get Facebook/Instagram impressions at a rate we can reasonably afford. That also doesn't explain why we lost the BOF so much compared to last weekend.