Two write-ups from real campaigns. Both name the budget, both show the working, and both say what the numbers cannot tell you — which is the part most case studies leave out.
47 leads from $179 of Meta ad spend on a lead-form campaign for home tours — roughly 4× below the published real-estate median. The full arithmetic, including what the conversion rate did.
$11,113 in sales at a 4.08% conversion rate for a small Shopify store, with two thirds of revenue traced to an Instagram audience built without ad spend.