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Case studyEcommerce (EU)Sept 2025 – Dec 2025

Real client numbers

From €0 to €31K/month with no efficiency decay

A clean launch, disciplined scaling, ROAS that improved as spend grew

Sept ROAS
2.29x
Oct ROAS
2.16x
Nov ROAS
2.69x
Dec ROAS
2.86x

The build (before the numbers)

Five campaigns, each with a specific role. No overlap.

On September 8 we launched a completely new Google Ads account: no historical data, no legacy structure, no prior learnings to lean on. The goal wasn't aggressive scale. It was to build a system that could scale without breaking.

We didn't launch everything at once. The account was rolled out in phases, with each campaign serving a specific role.

Five campaigns, five distinct roles

  • Brand Search to capture existing demand cleanly
  • Search Prospecting to expand high-intent non-brand queries
  • Performance Max (Full Build) for scalable demand capture
  • PMax Retargeting to support return traffic
  • PMax Competitor to test conquesting without polluting core learning

What the data showed month over month

Spend scaled every month. ROAS improved every month.

Monthly performance progression

MonthSpendROASNote
September (launch)€664.67~2.29xBaseline learning and signal collection
October€1,589.272.16xBudget increased only after early signals stabilised
November€3,995.492.69xSearch prospecting + PMax improved as learning consolidated
December (Dec 1 – 24)€10,846.872.86xSpend crossed five figures, efficiency higher than launch

December is where most accounts see ROAS drop as spend scales. Here it improved because structure was clean from day one.

Where these numbers come from

Patrick first wrote this account up on the newsletter on 11 February 2026, the week the numbers landed. The figures on this page come from that write-up.

Read the original write-up

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