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Case study

Personal Finance Publisher

Affiliate revenue model · Live account
11xLead volume
1.19xGoogle ROAS by month four, from zero
4.5xDaily spend vs. baseline
1.44xGoogle vs. Meta, identical inputs
View as table
MetricBeforeWith usChange
Leads11111x
View as table
MetricMetaGoogleChange
Efficiency11.441.44x

The situation

All paid revenue came from Meta, running at roughly breakeven. In March, Meta performance halved overnight with the same ads, pages and offers.

The client had tried Google three times before, across 32 campaigns over seven years. Not one had cleared breakeven, and they had written the channel off.

What we changed

The measurement layer came first: the same conversion data, delivered to every platform at the same moment, so results could be compared honestly.

Conversion rate had held while conversion value fell by a third and CPMs rose 17%. That pattern fits an audience-matching reset on Meta. Creative or tracking problems would have moved conversion rate too. We couldn't prove it yet, so we hedged: Google spend went live eleven days after the break, while the Meta fix was still running.

The result

For eight weeks both channels ran side by side on identical inputs. Google returned 1.44x the efficiency of Meta, and by month four it was at 1.19x ROAS at 4.5x the original daily spend.

What didn’t work

The Meta rescue failed. Four structural changes over six weeks, including a full creative rebuild, didn't bring it back. Search on Google underperformed too and was held at 8% of spend. About a third of the first campaigns were cut rather than nursed.

Timeline

First Google spend eleven days after the break. 1.19x ROAS by month four.

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Figures are percentage changes from the client's own account. Absolute revenue withheld under client confidentiality.

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