A Kerala-based online jewellery brand selling on Shopify. We managed the full Meta programme: ₹52.43L invested across 172 active campaigns, returning ₹364.68L in store revenue.
The decision cycle is longer than most e-commerce categories, and cost per acquisition is naturally higher. Revenue was closely tied to paid social performance, which made Meta the primary growth lever — and the primary risk.
The brief was a paid engine that could convert cold audiences profitably despite that CPA, bring warm browsers back rather than lose them after one visit, hold a consistent return month after month rather than in isolated campaigns, and scale spend as the business grew without efficiency slipping.
Bottom of funnel. Automatically re-serves the exact products a shopper viewed or added to cart. This was the highest-performing campaign every single month of the period.
Mid funnel. 30, 60 and 180-day windows re-engage past visitors and purchasers across a consideration cycle that a seven-day click model cannot see.
Top of funnel. State-specific creative for Kerala, Tamil Nadu and Karnataka, building regionally relevant reach rather than one national message.
Top of funnel. Broader campaigns whose job is to continually refill the retargeting pool with qualified audiences, so the closer never runs dry.
Because every new visitor flows into the retargeting campaigns that convert them weeks later, the account compounds rather than resetting each month. That is the entire mechanism behind the trend below.
Most e-commerce brands treat 3–4x as healthy. The weakest month here was 5.33x; the strongest turned ₹5.28L of spend into ₹43.95L of revenue.
| Month | Ad spend | Store revenue | Blended ROAS |
|---|---|---|---|
| January 2026 | ₹5,24,979.80 | ₹40,02,931.46 | 7.62x |
| February 2026 | ₹6,77,691.61 | ₹36,12,631.62 | 5.33x |
| March 2026 | ₹8,23,764.95 | ₹51,71,280.89 | 6.28x |
| April 2026 | ₹6,82,751.08 | ₹41,86,269.24 | 6.13x |
| May 2026 | ₹5,28,374.34 | ₹43,94,943.53 | 8.32x |
| June 2026 | ₹6,40,583.82 | ₹48,45,232.10 | 7.56x |
| July 2026 | ₹6,65,552.80 | ₹46,42,315.08 | 6.98x |
| August 2026 | ₹6,99,162.11 | ₹56,12,140.77 | 8.03x |
| Total / blended | ₹52,42,860.51 | ₹3,64,67,744.69 | 6.96x |
Compiled from original, unedited Meta Ads Manager and Shopify Analytics exports. Monthly screenshots available on request.
Dynamic catalogue retargeting was the single highest-performing campaign in every month of the period — averaging 12.51x, nearly double the account-wide blended figure.
| Month | Top campaign | Account blended | Uplift |
|---|---|---|---|
| January 2026 | 11.46x | 7.62x | 1.5x |
| February 2026 | 11.43x | 5.33x | 2.1x |
| March 2026 | 17.17x | 6.28x | 2.7x |
| April 2026 | 18.13x | 6.13x | 3.0x |
| May 2026 | 13.97x | 8.32x | 1.7x |
| June 2026 | 9.52x | 7.56x | 1.3x |
| July 2026 | 10.04x | 6.98x | 1.4x |
| August 2026 | 8.38x | 8.03x | 1.0x |
The gap narrows as the account matures. By August the whole account was performing close to its best campaign — the sign of a system rather than one lucky structure carrying the average.
May 2026 turned ₹5.28L of spend into ₹43.95L of revenue — the structure scales to exceptional efficiency in peak periods.
The Jun–Aug average outperformed the Jan–Mar average of 6.41x on similar spend: a compounding retargeting base, not a decaying one.
Every month closed above 5x, beyond the 3–4x most e-commerce brands treat as healthy, anchored by a closer averaging 12.51x.
Measured against Shopify store revenue over eight months — not platform-reported conversion value.
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