Ask HN: Is anyone having success with Reddit ads?

We've been experimenting with Reddit ads for a few weeks now, and the top-end metrics are really strong:

CTR: 4.2% CPC: $0.09 eCPM: $3.61

But conversion on our landing page to testing out our platform is shockingly bad, like basically zero.

Our landing page isn't amazing, but I don't think it's so terrible that people are disgusted upon arrival.

Has anyone had a similar experience? Has anyone had major success advertising on Reddit?