PPC Studio

Case study · Google Ads + GA4

Client B more than doubled monthly conversions in 18 months

Multi-brand consumer electronics retailer · Ecommerce · India

+123%
monthly conversions, Dec 2024 → Jun 2026
Google Ads-reported
+96%
revenue per paid session, same months
GA4-reported
₹200
cost per conversion in Jun 2026, the lowest of any month since Aug 2025
Google Ads-reported

The brief

Scale paid demand without paying more for each conversion

The client

An online retailer in India selling branded audio, wearables and laptops. It relies on Google Shopping and Performance Max for paid demand.

The challenge

Early campaigns bid for clicks. Traffic grew, but each paid visit was worth little. The goal was more value per rupee as budgets rose.

Our approach

Consolidate into two always-on product campaigns, bid on purchase value, and feed Google Ads with purchase signals from GA4.

Growth at a glance · Dec 2024 vs Jun 2026

First month against latest month

+123%
conversions
213 → 476
Google Ads-reported
+78%
paid sessions
26,885 → 47,849
GA4-reported
+96%
revenue per paid session
₹26 → ₹51
GA4-reported
+166%
monthly ad investment
₹36K → ₹95K
Google Ads-reported

Paid sessions = GA4 google / cpc sessions. All 19 months shown (Dec 2024 to Jun 2026) are complete calendar months.

Month on month · conversions

Aug 2025 was the best month: 484 conversions, 66% above the monthly average

Dec 2024: 213.0 conversions213Dec 24Jan 2025: 270.8 conversionsJan 25Feb 2025: 127.1 conversionsFeb 25Mar 2025: 258.5 conversionsMar 25Apr 2025: 173.9 conversionsApr 25May 2025: 193.5 conversionsMay 25Jun 2025: 218.3 conversionsJun 25Jul 2025: 217.6 conversionsJul 25Aug 2025: 483.9 conversions484Aug 25Sep 2025: 266.3 conversionsSep 25Oct 2025: 268.0 conversionsOct 25Nov 2025: 345.0 conversionsNov 25Dec 2025: 294.0 conversionsDec 25Jan 2026: 406.5 conversionsJan 26Feb 2026: 317.2 conversionsFeb 26Mar 2026: 294.3 conversionsMar 26Apr 2026: 266.0 conversionsApr 26May 2026: 449.4 conversions449May 26Jun 2026: 475.9 conversions476Jun 26
+6% MoM (May 26 → Jun 26)Q2 2026: 1,191 conversions vs 586 in Q2 2025 (+103%)Dashed line = monthly average (292) · Google Ads-reported purchase conversions

Month on month · efficiency

Cost per conversion fell to ₹200 while monthly spend held at ₹91–103K

Monthly ad spend

Dec 2024: ₹35,686₹36KDec 24Jan 2025: ₹44,200Feb 2025: ₹38,135Mar 2025: ₹54,648Mar 25Apr 2025: ₹54,613May 2025: ₹55,914Jun 2025: ₹54,410Jun 25Jul 2025: ₹75,248Aug 2025: ₹102,853Sep 2025: ₹100,790Sep 25Oct 2025: ₹100,669Nov 2025: ₹90,501Dec 2025: ₹91,208Dec 25Jan 2026: ₹91,202Feb 2026: ₹91,099Mar 2026: ₹91,217Mar 26Apr 2026: ₹92,263May 2026: ₹91,214Jun 2026: ₹95,076₹95KJun 26

Google Ads-reported cost

Cost per conversion, Aug 2025 onward

Aug 2025: ₹212.54₹213Aug 25Sep 2025: ₹378.45Oct 2025: ₹375.66Nov 2025: ₹262.33Nov 25Dec 2025: ₹310.26Jan 2026: ₹224.35Feb 2026: ₹287.24Feb 26Mar 2026: ₹309.97Apr 2026: ₹346.86May 2026: ₹202.96Jun 2026: ₹199.78₹200Jun 26

Google Ads-reported · dashed line = average · from the first full month after the 9 Jul 2025 tracking change

-2% cost per conversion MoM (May 26 → Jun 26)₹200 in Jun 2026 vs ₹268 average since Aug 2025

Month on month · site quality

Each paid visit is now worth about twice as much

Paid sessions per month

Dec 2024: 26,885 sessions27KDec 24Jan 2025: 39,610 sessionsFeb 2025: 30,545 sessionsMar 2025: 35,498 sessionsMar 25Apr 2025: 37,813 sessionsMay 2025: 48,582 sessionsJun 2025: 50,800 sessionsJun 25Jul 2025: 66,345 sessionsAug 2025: 72,980 sessionsSep 2025: 47,694 sessionsSep 25Oct 2025: 38,848 sessionsNov 2025: 31,282 sessionsDec 2025: 37,610 sessionsDec 25Jan 2026: 38,984 sessionsFeb 2026: 35,119 sessionsMar 2026: 28,604 sessionsMar 26Apr 2026: 26,235 sessionsMay 2026: 33,056 sessionsJun 2026: 47,849 sessions48KJun 26

GA4-reported · google / cpc sessions

Revenue per paid session

Dec 2024: ₹26.09₹26Dec 24Jan 2025: ₹23.60Feb 2025: ₹20.53Mar 2025: ₹29.99Mar 25Apr 2025: ₹21.61May 2025: ₹17.79Jun 2025: ₹21.91Jun 25Jul 2025: ₹13.71Aug 2025: ₹21.39Sep 2025: ₹25.27Sep 25Oct 2025: ₹28.87Nov 2025: ₹30.70Dec 2025: ₹28.53Dec 25Jan 2026: ₹29.12Feb 2026: ₹33.84Mar 2026: ₹45.08Mar 26Apr 2026: ₹39.60May 2026: ₹64.63₹65Jun 2026: ₹51.03₹51Jun 26

GA4-reported · google / cpc revenue ÷ sessions · dashed line = average (₹30)

Best month: May 2026 at ₹65, 114% above the averageJun 26 MoM: sessions +45%, revenue per session -21%

What we changed

From scattered tests to two campaigns that bid on value

Dec 2024Onboarded. Restructured Search and Shopping, cleaned keywords and added assets.
Feb–Mar 2025Launched Performance Max on selected products, and excluded non-performing products.
Jul 2025Rebuilt conversion tracking on GA4 purchase events.
Aug–Oct 2025Ran festive Shopping and PMax, then moved Shopping from click bidding to Target ROAS.
2026Consolidated into two always-on value-bid campaigns and added a fresh PMax build in April.

Timeline from our account change log.

Latest quarter · Q2 2026

Momentum into the latest months

Apr 2026May 2026Jun 2026
Conversions Google Ads-reported266449476
Cost per conversion Google Ads-reported₹347₹203₹200
Ad spend Google Ads-reported₹92,263₹91,214₹95,076
Paid sessions GA4-reported26,23533,05647,849
Revenue per paid session GA4-reported₹40₹65₹51

Conversions rose +79% from April to June on spend up +3%.

Proof from the platforms · Google Ads

The same story, straight from Google Ads

Q2 2025 · baselineGoogle Ads screenshot, Q2 2025
Q2 2026 · latestGoogle Ads screenshot, Q2 2026
Cost ₹165K → ₹279KCost per conversion ₹282 → ₹234Google Ads-reported

Google Ads, Q2 2025 vs Q2 2026, screenshots from the platform. Identifying details are not shown.

Proof from the platforms · Google Analytics (GA4)

GA4 confirms the growth in tracked revenue

Q2 2025 · baselineGoogle Analytics (GA4) screenshot, Q2 2025
Q2 2026 · latestGoogle Analytics (GA4) screenshot, Q2 2026
GA4 total revenue ₹4.6M → ₹7.3MGA4-reported · site-wide, all channels

Google Analytics (GA4), Q2 2025 vs Q2 2026, screenshots from the platform. Coupon codes redacted.

Proof from the platforms · Shopify

Shopify shows more orders and higher sales

Q2 2025 · baselineShopify screenshot, Q2 2025
Q2 2026 · latestShopify screenshot, Q2 2026
Orders 733 → 1,042 (+42%)Total sales ₹4.37M → ₹6.77M (+55%)Shopify-reported · store-wide, all channels

Shopify, Q2 2025 vs Q2 2026, screenshots from the platform. Store details are not shown.

Proof from the platforms · every quarter

Eight quarters of screenshots from the platforms

Google Ads
Google Ads Q3 2024
Q3 2024
Google Ads Q4 2024
Q4 2024
Google Ads Q1 2025
Q1 2025
Google Ads Q2 2025
Q2 2025
Google Ads Q3 2025
Q3 2025
Google Ads Q4 2025
Q4 2025
Google Ads Q1 2026
Q1 2026
Google Ads Q2 2026
Q2 2026
GA4
GA4 Q3 2024
Q3 2024
GA4 Q4 2024
Q4 2024
GA4 Q1 2025
Q1 2025
GA4 Q2 2025
Q2 2025
GA4 Q3 2025
Q3 2025
GA4 Q4 2025
Q4 2025
GA4 Q1 2026
Q1 2026
GA4 Q2 2026
Q2 2026
Shopify
Shopify Q3 2024
Q3 2024
Shopify Q4 2024
Q4 2024
Shopify Q1 2025
Q1 2025
Shopify Q2 2025
Q2 2025
Shopify Q3 2025
Q3 2025
Shopify Q4 2025
Q4 2025
Shopify Q1 2026
Q1 2026
Shopify Q2 2026
Q2 2026

Quarterly overview screenshots, Q3 2024 to Q2 2026. Q3 2024 is a partial quarter, before we onboarded. Coupon codes redacted.

PPC Studio

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Notes

Data notes

Sources: Google Ads daily exports and GA4 google / cpc rows, Dec 2024 to 30 June 2026 (latest available). Conversions and revenue are platform-reported, not backend sales. Ads conversions are counted from the 9 Jul 2025 GA4-sourced setup, and some 2026 GA4 purchases lack transaction IDs. Client anonymised.