I have run lead ad campaign for getting tax consultation leads. So, I have selected Google Search Ad campaign. Initially, I have selected conversion bidding strategies. Later, I have optimized the bidding strategies by utilizing Max CPA at $5 CAD. I have received 130 clicks, 3..3k impressions, $1.28 avg. CPC with a total budget of $166 from August 29th to September 19th 2024.
Out of 130 clicks, we received 35 leads out of which 10 were converted. Each conversion costs $250 CAD. For 10 conversions, we received $1250.
ROAS will be 1250/166 = 7.5.
So, investing $1 we gained $7.5.
ROI = 1250/166 = 753%.