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Case study · Performance Max · Jewelry

Google Performance Max Case Study | AlGurus Results

A jewelry retailer in the Middle East tested Google Performance Max on a small budget. With creative built to sell jewelry on looks, $455 in spend returned $3.48K in revenue at a 763% ROAS.

Jewelry retailMiddle EastPerformance MaxGoogle Ads report: Q3 2016 – Q1 2025Luxury Jewelry & Watches
Build a plan like thisReplay Google Ads report: Q3 2016 – Q1 2025
Replay availableCase file · Q3 2016 → Q1 2025

763% ROAS

return on ad spend in a Performance Max test

$3.48Krevenue
$455ad spend
1.22%CTR
Watch the campaign replay5 stops, from the starting point to the result
Results at a glance

Results at a glance

A jewelry retailer in the Middle East came to AlGurus to test Google Performance Max with a limited budget. We built the campaign around the product’s strongest selling point, how it looks, and let Google’s automation place it across Search, Display, YouTube and more. In the Google Ads report, a spend of $455 generated $3.48K in revenue, a 763% ROAS against a global average of 200–400% for similar campaigns. The click-through rate was 1.22%, above the roughly 1% global average for Performance Max.

From the dashboardGoogle Ads
Google Ads overview of the Performance Max campaign: 1.22% CTR, $455 cost, 763.59% actual ROAS and 3.48K conversion value.
Performance Max overview
Return on ad spend
763%vs 200–400% global average
Revenue
$3.48KGoogle Ads conversion value
Ad spend
$455the whole test budget
Click-through rate
1.22%vs ~1% Performance Max average
01 · The challenge

A competitive jewelry market and a modest budget

A jewelry retailer in the Middle East wanted to grow online sales and reach high-value customers. It had a limited budget and a market full of competitors chasing the same discerning buyers. The brief was to find out whether Google Performance Max could turn a small spend into real revenue.

A discerning audience

Jewelry buyers compare carefully and respond to quality. An average ad does not move them.

Every dollar had to count

With a modest test budget, there was no room for a long learning phase or wasted placements.

Many channels at once

The client wanted to be seen across Google, not only in search results, without managing each channel separately.

02 · The strategy

Give the algorithm something beautiful to show

Performance Max runs one campaign across Search, Display, YouTube and Google’s other channels, and decides on its own where each ad appears. That automation is only as good as its inputs. For a product people buy on looks, the input that matters most is the creative, so that is where we started.

ObjectiveIncrease online sales and reach high-value jewelry buyers across Google’s channels, on a limited budget.

Pillar 1

Elegant asset development

High-quality images and videos that show the client’s pieces at their best, so every placement had a reason to stop the scroll.

Pillar 2

Targeted audience signals

Demographic insights combined with intent-based targeting, to point the algorithm at people with a high likelihood of buying.

Pillar 3

Automation, watched closely

Google’s AI handled bids, placements and budget allocation, while we analysed results continuously and adjusted as the campaign ran.

The sequence mattered. Creative and signals went in first, so the automation started learning from the right people seeing the right pieces. We then stepped back from manual control and focused on reading the data and correcting course.

03 · Execution, replayed

Press play: the test in five stops

Drag the timeline or press play. Each stop shows one part of the test and the number it supports.

5 / 5
Starting point

A jewelry store with a small test budget

The client wanted more online sales and more high-value customers, in a competitive jewelry market, without a big budget. The question was whether Performance Max could earn its keep on a modest spend.

  • Competitive jewelry market
  • Limited budget for the test
  • Goal: online sales from a discerning audience across channels
The bar to beat

200–400%

global average ROAS for similar campaigns

Global avg200–400%
Step 1 · Creative

Assets that sell jewelry on looks

Jewelry is bought with the eyes first. We produced high-quality images and videos of the client’s pieces, so every placement Performance Max chose had something worth stopping for.

  • High-quality product images
  • Short videos of the pieces
  • Copy written for a premium buyer
Metric it supports

1.22%

click-through rate, above the ~1% Performance Max average

This campaign1.22%
Global avg~1%
Step 2 · Signals

Audience signals for likely buyers

Performance Max finds its own audience, but it learns faster with a starting point. We combined demographic insights with intent-based signals to point it at people likely to buy.

  • Demographic insights
  • Intent-based targeting signals
Step 3 · Automation

Google’s AI on bids and placements

With the assets and signals in place, Google’s automation chose placements, bids and the split of budget between Search, Display, YouTube and the other channels.

  • Automated bidding
  • Automated placement across Google’s channels
  • Automated resource allocation
Spend

$455

the whole test budget

Result

$3.48K from $455

We monitored the campaign continuously and adjusted it as it ran. It closed with $3.48K in revenue and a 763% return on ad spend.

  • Continuous analysis and adjustments
  • $3.48K revenue
  • 763% ROAS
Return on ad spend

763%

vs a 200–400% global average

This campaign763%
Global avg200–400%

The Google Ads overview in the screenshot is quarterly (Q3 2016 – Q1 2025) and shows no dates for each step. The stops follow the order of the work; they are not dated milestones.

Want to test Performance Max on a small budget?

A 30-minute strategy call. We look at your products and your creative, and tell you whether Performance Max is ready to work for you.

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04 · The results

A 763% return on a $455 test

The averages below are global benchmarks for similar campaigns, not the client’s earlier results.

Return on ad spend

This campaign vs global average (upper end)

763%

Click-through rate

This campaign vs Performance Max average

1.22%

A spend of $455 generated $3.48K in revenue. The click-through rate of 1.22% shows the visuals did their job: across channels where most people scroll past ads, more of them stopped and clicked than the Performance Max average.

Results vs global averages
MetricResultGlobal average
Return on ad spend763%200–400% (similar campaigns)
Click-through rate1.22%~1% (Performance Max)
Ad spend$455N/A
Revenue$3.48KN/A
Platform screenshots

Proof from the platforms

Real screenshots from the ad, analytics and store accounts behind this case. Client names and account details are not shown. Open any screenshot to see it full size.

  • Google Ads overview of the Performance Max campaign: 1.22% CTR, $455 cost, 763.59% actual ROAS and 3.48K conversion value.
    Google AdsPerformance Max overview
05 · What we learned

What this test taught us about Performance Max for jewelry

Creative is the lever you control

Performance Max chooses placements on its own. For jewelry, the quality of images and videos decided how well those placements performed.

Signals shorten the learning

Starting the algorithm on demographic and intent signals meant a small budget was not spent teaching it who buys jewelry.

Automation still needs a driver

Continuous monitoring and adjustment kept the campaign at peak performance for as long as it ran.

Why Google Performance Max

All-in-one. Search, Display, YouTube and more from a single campaign.

Advanced automation. Google’s AI handles bids, placements and budget in real time.

Full-funnel reach. It reaches buyers at every stage of the journey, guided by your audience signals.

Services used

The team and tools behind this case

Performance MaxCampaign build, audience signals, monitoringContent CreationJewelry images and videos for the asset groupsEcommerce Google AdsOnline sales tracked as revenue
Platform & partners
Google PartnerPremier 2026MetaBusiness PartnerShopifySelect PartnerSallaPartner

Built by a Google Premier Partner, Meta Business Partner, Shopify Partner and Salla Partner agency in Amman: $28M+ in ad spend managed, 75+ Shopify stores delivered, 120+ brands served. Google Premier Partner: Top 3% of Google Partners in the World.

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  • Google Premier Partner, Meta, Shopify and Salla Partner
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FAQ

Questions about this case

What ROAS did Performance Max reach for the jewelry store?

763%, as reported in Google Ads. The global average ROAS for similar campaigns is 200–400%.

How much did the test cost, and what did it bring in?

The spend was $455 and the campaign generated $3.48K in revenue.

Is a 1.22% CTR good for Performance Max?

The global average CTR for Performance Max campaigns is around 1%, so 1.22% is above it. For jewelry, strong visuals are what earn the click.

Why focus on creative for a Performance Max campaign?

Performance Max decides where ads show, but it can only show what you give it. For a product bought on looks, high-quality images and videos were the biggest lever we controlled.

Do you run Performance Max for jewelry and watch stores?

Yes. See our Performance Max service, and compare this test with Performance Max for a watches retailer, where first-party data drove the result.

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