jewelry google ads 791% roas case-study
$18K/Mo → $80K/Mo
How a Los Angeles gold filled jewelry wholesaler used two Google Ads campaigns — Search and Performance Max — to generate 791% ROAS, acquire wholesale buyers at $23.25 each, and hit $620,000 in tracked revenue. Every number from a live dashboard.
The Situation
A Los Angeles-based gold filled jewelry brand came to us with a real business — quality product line, existing wholesale accounts, and a Shopify wholesale store ready to scale. Online revenue was stuck at $18,000 a month and had been flat for months.
It wasn't a product problem. It wasn't a pricing problem. It was a targeting and system problem.
"I was getting some wholesale orders but I couldn't figure out how to grow them consistently. I tried running Google Ads myself and the traffic was coming in but nobody was buying."
Gold Filled Jewelry Brand · Los Angeles · WholesaleCampaigns built around retail terms like 'gold filled necklace' attracting everyday shoppers — not boutique owners who could convert on a wholesale minimum-order site.
Zero Performance Max presence where boutique owners actively research and shortlist new wholesale suppliers before placing orders.
Wholesale purchase events not firing correctly — Google's algorithm had no signal and optimized toward the wrong audience every single day.
Boutique owners take 2–4 weeks to place a wholesale order. Zero retargeting meant the brand vanished from view during that entire decision window.
The Strategy
Two campaigns. One system built specifically for wholesale buyer acquisition — not retail consumer traffic. Each campaign handled a different part of the wholesale buying journey.
Captures wholesale buyers actively searching for a gold filled supplier. Five keyword clusters targeting boutique owners and resellers — all retail traffic blocked by an aggressive negative keyword list.
Reaches boutique owners before they search. Keeps the brand visible during the 2–4 week consideration window. Drives catalog discovery through Google Shopping with a 30-day retargeting window.
Full conversion tracking rebuilt in Google Tag Manager. Wholesale events verified before a single dollar was spent.
Rebuilt from scratch around wholesale intent. Tight match types. Negatives refined weekly to block all retail traffic.
Two asset groups — new account prospecting and warm catalog retargeting. Merchant Center connected for Shopping.
Weekly term reviews. Monthly PMax creative refreshes. Bids scaled as wholesale conversion data accumulated.
The Data
All figures pulled directly from Google Ads, Shopify Analytics, and Shopify's Marketing Attribution dashboard. No projections. No estimated values. Every number is from a live account.
| Channel | Before | After | Lift |
|---|---|---|---|
| Google Search | $67.9K | $99.3K | ↑46% |
| Shopify Organic / Direct | $391 | $51.6K | ↑13,100% |
| Facebook / Social | $103 | $20.8K | ↑20,000%+ |
| Email Marketing | $16.7K | $12.6K | Stabilized |
| Conversion Rate | ~1.07% | 1.53% | ↑43% |
The Revenue Story
A clear compound curve — steady foundation-building early, a visible inflection point when PMax Shopping went live, and sustained growth through Q4 wholesale buying season.
Wrong traffic, broken tracking, no Shopping presence. Revenue flat for months despite an existing product and customer base.
First qualified wholesale buyers arrive. Boutique inquiries from accounts never heard of before. Negative keywords refined weekly.
Shopping placements go live. Boutique owner discovery begins. The revenue curve visibly steepens. PMax exits the learning phase.
Organic and direct traffic surges 13,100%. Restocking orders from new accounts. PMax smarter every week with growing buyer data.
Q4 retail stocking season. PMax operating with 9+ months of wholesale buyer data — fully optimized for the exact window when retailers stock for the holidays.
791% ROAS · $27.7K total ad spend · 2 campaigns · under $2,000/month average.
Key Lessons
"Gold filled necklace" attracts retail consumers. "Gold filled jewelry wholesale" attracts boutique owners. These are not the same search. Retail consumer traffic on a wholesale site poisons Google's algorithm — every bad click makes the next dollar less effective.
Boutique owners research wholesale suppliers on Google Shopping — browsing product lines, comparing pricing, shortlisting vendors — all before visiting a website. Without Shopping presence, this brand was completely invisible to that entire research process.
Retail buyers decide in hours. Wholesale buyers take 2–4 weeks. Standard 7-day retargeting windows miss most of them. The 30-day window captured buyers who first visited 2–3 weeks earlier and returned when they were ready to order.
The 13,100% increase in organic and direct traffic came from brand recognition built through PMax Shopping impressions — not SEO. Paid ads generated free return visits as a compounding side effect. The true ROI is higher than 791% when you account for organic lift.
We work with a small number of jewelry brands at a time. Every brand gets a full audit and a 90-day roadmap built specifically for wholesale Google Ads.