
Thermos product photography
Thermos
+94%
contribution margin
- The problem
- Reported ROAS looked strong, but the previous agency's tracking was double-counting conversions and inflating it by roughly 40%.
- First decision
- Fix the measurement before scaling anything. Then restructure campaigns by product category and cost of goods, so high-cost drinkware stopped competing with low-cost bestsellers for the same budget.
How it was measured · Post-restructure contribution margin vs the preceding equivalent period, after correcting double-counted conversions. A before-and-after account comparison, not isolated lift.
Read the full Thermos case study


