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Case study · Moonster Leather
5.7%branded search conversion rate

We got Moonster Leather’s branded search converting at 5.7%.

How an $8M Amazon brand found out what its demand was worth outside Amazon.

IndustryLeather goods. Handmade full-grain buffalo leather, $19 to $122.
Case startOctober 2025
Team on this account
Brian Jeremy Simon Kristensen
Channels & tools
Google Ads
CASE IN SHORT

a brand doing close to $8M a year on Amazon had never bought traffic elsewhere. We built its first external channel from zero and split it into branded and non-branded lanes on purpose, so the first readings would answer one question: how much of this demand does the brand already own, and how much must it buy. Branded search converted at 5.7%. Non-branded, the lane that buys new customers, returned 4 conversions above GBP 100 each against a Shopify average order value of $34.87.

Client voice.

“they never actually had the external traffic set up. They never invested a penny on external advertising.” Rafael Oldrini, CEO.

Moonster Leather

Key results.

Readings, not wins. The engagement missed its stated target and ended.

$0EXTERNAL AD SPEND BEFORE Growth Mate
5.7% (Google Ads, campaign level, demand the brand already owned)BRANDED SEARCH CONVERSION RATE
4 conversions at a CPA above GBP 100, against a 7-day AOV of $34.87NON-BRANDED SEARCH
Moonster Leather

Challenge

The brand was founded on Amazon and never left. It grew to almost $8M of topline there and spent $550,000 on Amazon advertising in the trailing twelve months at a reported ROAS of around 5.7. Outside that marketplace it barely existed. Its own Shopify store sold roughly 20 units a month, which the CEO called irrelevant, and site conversion rate sat under 2%. External ad spend across the brand’s whole life was zero.

The incumbent social agency of six or seven years produced content the CEO described plainly: “I get a lot of creatives from the Instagram partnerships, but they don’t convert, right? So they don’t convert at all.” And Meta, the channel the plan was built for, was locked: the ad account and every social asset had gone to a German company that went insolvent, and the last known owner was unreachable.

Moonster Leather

Solution

Step #1 Build the channel from zero, four markets, over Black Friday.

We staggered the launch by market rather than fighting peak-day auctions everywhere at once: US on the Friday, UK next on recycled US creative, Germany and France by the Thursday. It went in hyper-segmented at roughly 30 ad groups so budget could move off early signal fast, with branded search, non-branded search and Performance Max as separate lanes behind GA4 and Merchant Center tracking. Scaling gates were set before launch: scale at 2.86 ROAS, no cap above 3.4.

Step #2 Call the launch wrong in its first weekend.

The first weekend review found Performance Max burning roughly 60% of budget on poor-quality display, because it was learning from Google’s auto-generated assets rather than the real feed. Journals were showing in a “Leather Bags for Men” ad group, and the copy promised custom and personalised products the brand does not make. We stripped the mismatched assets out the same day and stood up standard Shopping.

Step #3 Read the lanes and say which demand was real.

On December 9 we went through the account with the founder. Branded search was the healthy lane at 5.7%, so its budget went from GBP 15 a day to GBP 20. Non-branded had produced 4 conversions at a CPA above GBP 100, unsurvivable against a 14-day AOV of $41.20, so it was cut back to a target CPA and run as awareness. The reading that mattered was not about media. Volume rose while the 7-day average order value fell 29% to $34.87, because the mix skewed to low-value journals rather than the bags the plan depended on. The work moved to basket size.

Step #4 Refuse the fast route on Meta.

Meta could have started immediately through the incumbent agency’s partner access. We said no: the spend would have sat inside an account the client could not recover if it were restricted, and a from-scratch account would have thrown away years of pages, followers and pixel history. We chose the formal ownership transfer instead. It never completed.

Results

✓Branded search converted at 5.7%, reported as demand the brand already owned rather than acquisition we had created.
✓Non-branded search returned 4 conversions at a CPA above GBP 100 against a 7-day AOV of $34.87 and a 14-day AOV of $41.20. Every acquired order lost money at that cost, which made basket size the constraint rather than the media buying.
✓The revised Performance Max ran at roughly 0.97 ROAS on 7 days, still learning, against a 2.8 target and a 3.0 contractual minimum.
✓At December 9, three weeks from the deadline, the account stood at about 45 conversions against a 300-conversion year-end goal, 15% of target. The founder heard it on the call.
✓Meta never launched. Zero spend, zero results.
✓The client was openly dissatisfied with execution before the engagement ended: “the feeling that I have is that we are only tweaking teams … when I’m getting angry or anxious.” The asset mismatch found in November was still live a month later, and he raised it himself.
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