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Case Study

How We Drove $9.5M in Revenue for Concealment Express with Google Ads

At a glanceLive PPC Ads managed Google Ads, Meta Ads, and Microsoft Ads for Rounded by Concealment Express, a Firearms Accessories business in Jacksonville, FL (nationwide shipping), from 2020: $3.03M in ad spend produced $9.54M in revenue from the ads at 3.15x ROAS across 153,478 purchases.

Case study: How Live PPC Ads generated $9.5 million in e-commerce revenue for Concealment Express (Rounded Gear) — a KYDEX holster manufacturer — through Google Ads Search, Shopping, and Performance Max campaigns.

Ilya Bulychev

By

Founder & Lead Strategist, Live PPC Ads

Rounded by Concealment Express logo

Platforms We Manage for This Client

Google Ads
Meta Ads
Microsoft Ads
Client

Rounded by Concealment Expressroundedgear.com ↗

Industry

E-Commerce — Firearms Accessories

Location

Jacksonville, FL (nationwide shipping)

Read Time

5 min read

Data verified through September 2026

$9.5M

Ad Revenue Generated

7.2x

ROAS

153,478

Purchases

$3.0M

Ad Spend Managed

The Client

Concealment Express is a Jacksonville, Florida maker of KYDEX holsters, and our Google Ads for their holster store have produced $9.5 million in revenue since 2020.

Concealment Express (operating as Rounded Gear) is a Jacksonville, FL-based e-commerce brand specializing in American-made KYDEX holsters for concealed carry. They manufacture holsters for 30+ firearm brands — from Glock and Sig Sauer to Smith & Wesson and Springfield — across 15+ holster types including IWB, OWB, appendix, light-bearing, and athletic wear holsters.

Their product catalog spans 800+ SKUs, serving concealed carry permit holders nationwide with holsters, magazine carriers, CCW apparel, and accessories. With an average order value in the $40-80 range, profitability depends on efficient acquisition and high conversion rates across a massive product catalog.

The Challenge

When we took over the Google Ads account, we inherited:

  • 130+ campaigns with inconsistent structure — legacy campaigns from previous agencies mixed with automated experiments
  • Self-blocking negative keywords that were actively suppressing revenue — brand names like "Glock," "Sig Sauer," and "Ruger" were being negated, preventing holster searches for those brands from triggering ads
  • No cohesive campaign architecture — Search, Shopping, and PMax campaigns were competing against each other with no traffic sculpting strategy
  • Conversion tracking fragmentation — multiple overlapping purchase tracking tags (Hawke, WDS, GA4, Elevar) causing attribution confusion

The account was spending, but it was hemorrhaging money on structural inefficiencies.

Our Approach

1. Architecture Overhaul

We rebuilt the campaign structure from the ground up:

  • Brand Campaign (EXACT match) — captures high-intent "Concealment Express" and "Rounded Gear" searches at maximum efficiency
  • ROAS Campaign (brand + model queries) — targets "Glock 19 holster," "Sig P365 holster" with ROAS-focused bidding
  • TOF Campaign (category queries) — captures top-of-funnel "best IWB holster," "concealed carry holster" searches
  • Shopping Campaigns — segmented into 5 tiers by product performance index (Over Index, Index, Near Index, Under Index, LTV Top 4)
  • Performance Max — 3 focused campaigns: core holsters, CCW for women, and top-of-funnel discovery
  • Display — dynamic remarketing for cart abandoners

2. Negative Keyword Surgery

This was the game-changer. Our audit discovered catastrophic negative keywords that previous agencies had left in place:

  • Brand name negatives blocking holster searches — "Glock" as a PHRASE negative was blocking "Glock 19 holster" entirely
  • Product category negatives like "IWB" EXACT match was blocking all IWB holster queries on brand campaigns
  • Self-industry negatives from a shared "Firearms & Concealed Carry" list that was linked to all Search campaigns

We removed 47 self-blocking negatives and unlinked destructive shared lists, immediately unlocking suppressed search volume.

3. Traffic Sculpting

We implemented precise traffic routing:

  • Brand searches → Brand Campaign (highest priority, lowest CPA)
  • Brand + model searches → ROAS Campaign (e.g., "Glock 19 holster Concealment Express")
  • Generic holster searches → TOF Campaign or Shopping
  • Product browsing → Shopping campaigns segmented by performance tier
  • Remarketing → Display dynamic + PMax retargeting signals

4. Daily Optimization via Ad Campaign Concierge™

Through our proprietary system, every campaign receives daily attention:

  • Bid adjustments across 6 time-of-day tiers
  • Device bid modifiers based on conversion data
  • Negative keyword additions from search term reports
  • Audience layering with 100+ demographic and interest signals
  • Shopping product group optimization by performance tier

The Results

Since taking over the account, we've generated $9.5 million in tracked e-commerce revenue from $3.03 million in ad spend — delivering 153,478 purchase conversions across 18 simultaneously running campaigns.

The most significant achievement has been the steady improvement in return on ad spend. Through continuous optimization — daily bid adjustments, negative keyword refinements, audience layering, and campaign architecture improvements — we've more than doubled the account's ROAS from 2.9x in 2023 to 7.2x in the first quarter of 2026.

This wasn't one dramatic change. It was the compounding effect of hundreds of small, disciplined optimizations executed daily through our Ad Campaign Concierge™ system.

The Numbers

  • $9.5 million in tracked e-commerce revenue from the ads
  • 153,478 total purchases driven by ads
  • 7.2x ROAS — first quarter of 2026, the account's best quarter yet
  • 18 campaigns running across Search, Shopping, Performance Max, and Display
  • 148% ROAS improvement since 2023 (2.9x → 7.2x)

Key Takeaways

  1. Negative keyword audits can unlock revenue overnight. We found brand names like "Glock" and "Sig Sauer" were being negated — blocking holster searches for those exact firearms. Removing these self-blocking negatives immediately increased qualified traffic at zero additional cost.

  2. Architecture matters more than budget. This account has spent $3M+ with us. The problem wasn't budget — it was structure. Rebuilding the campaign architecture turned the same spend into dramatically better returns.

  3. Daily optimization compounds. The jump from 2.9x to 7.2x ROAS wasn't a single breakthrough — it was hundreds of small daily improvements stacking up over months and years. That's what separates managed campaigns from "set it and forget it."

  4. Product catalog complexity requires Shopping segmentation. With 800+ SKUs, a single Shopping campaign can't optimize effectively. Segmenting by product performance tiers lets you concentrate budget on winners while still testing underperformers.

Frequently Asked Questions

Can a holster company advertise on Google Ads?

Yes. Holsters and carry accessories can run on Search, Shopping and Performance Max. Concealment Express has produced $9.5 million in tracked revenue from $3.03 million in ad spend across 18 campaigns.

What was blocking sales in the holster account?

Negative keywords. Searches for their best-selling models, such as Glock and Sig Sauer holsters, were blocked by the account's own negative lists. We removed 47 self-blocking negatives and unlinked the shared lists that caused it.

How much can return on ad spend improve over time?

For Concealment Express, return on ad spend went from 2.9x in 2023 to 7.2x in the first quarter of 2026, through daily bid, negative keyword and structure changes.

How many orders has the account produced?

153,478 purchases since we took over, across a catalog of more than 800 products.

About This Campaign

This campaign is managed by Live PPC Ads using our Ad Campaign Concierge™ optimization system. The account runs 18 simultaneous campaigns across Google Search, Shopping, Performance Max, and Display with daily optimization, automated bid management, and continuous negative keyword refinement.

Industry: E-Commerce — Firearms Accessories Platforms: Google Ads, Meta Ads, Microsoft Ads Account Duration: 2020 — Present (ongoing)

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