Richmond — The Benchmark Market
Google Ads Search Terms Analysis
Richmond generates $18.08 in revenue per household — the highest of any Closet Factory market. It runs one campaign, uses Exact and Phrase match for 80.5% of spend, and achieves a $206 CPL. This is the proof that structure matters more than budget.
#1
Revenue per household
$18.08/HH
$206
Cost per lead
Search campaign
80.5%
Exact + Phrase match
vs. 0% in Chicago
33.9%
Waste rate
Lowest of all markets
Search campaign data from Sep 2025 – Feb 2026. One campaign, 12 ad groups, 14,330 unique search terms.
Search Spend
$125,351
$20,892/month
Conversions
607.5
101.2/month
Cost Per Lead
$206
Blended search CPL
Converting Terms
138
of 14,330 total
Three structural decisions separate Richmond from every other Closet Factory market.
One Campaign
Richmond runs a single Search campaign. No Performance Max cannibalizing search traffic. No budget split across competing campaign types. One campaign, full control.
VB runs 2 campaigns. Chicago runs 2.
Exact + Phrase Match: 80.5%
50.7% of spend goes to Exact Match ($176 CPL). 29.8% to Phrase Match ($211 CPL). Only 17.3% leaks to Broad Match ($379 CPL). Tight targeting, lower waste.
Chicago: 0% Phrase/Exact. VB: 13.6%.
Brand Engine: 62.2% of Conversions
The Brand ad group captures 377.9 of 607.5 conversions at $159/lead. Richmond's TV and radio investment creates brand searches that convert at nearly half the cost of generic terms.
Media-influenced: 75.7% of all conversions
The Result
Richmond spends less than Virginia Beach ($125K vs $142K in search) but generates more conversions (607.5 vs 490) at a lower CPL ($206 vs $289). The difference is not budget — it's structure. Richmond proves that a single, well-structured campaign with proper match types outperforms a larger budget spread across poorly configured campaigns.
One campaign. Twelve ad groups. Clear intent segmentation.
Single Campaign
S - AI Max Richmond Closet Campaign 09-02-25
Spend: $125,351 | Conversions: 607.5 | CPL: $206 | Waste: $42,467 (33.9%)
| Ad Group | Spend | Conv | CPL | Waste | Waste % |
|---|---|---|---|---|---|
| Brand★ TOP | $60,212 | 377.9 | $159 | $2,012 | 3% |
| Closet Types | $16,675 | 51.1 | $326 | $8,123 | 49% |
| Competitors | $10,419 | 46.1 | $226 | $3,559 | 34% |
| Closet Builders | $9,862 | 36.2 | $273 | $7,811 | 79% |
| Closet Cabinetry | $6,577 | 16.4 | $401 | $5,805 | 88% |
| Closet Companies | $6,476 | 14.5 | $447 | $5,620 | 87% |
| Closet Designers | $5,979 | 23.8 | $252 | $3,462 | 58% |
| Closet Design | $3,426 | 7.8 | $440 | $1,707 | 50% |
| Closets | $3,208 | 18.9 | $170 | $2,247 | 70% |
| Pantry Systems | $2,517 | 14.9 | $169 | $2,121 | 84% |
| Total | $125,351 | 607.5 | $206 | $42,467 | 33.9% |
What stands out:
• Brand ad group gets 48% of spend and delivers 62.2% of conversions at $159/lead — the cheapest ad group by far.
• Linen Closets and Luxury Closets have $0 spend — they were either paused or never activated. Smart. These ad groups waste money in other markets.
• Closets ad group: $170 CPL — second cheapest. Pantry Systems: $169 CPL — also efficient. These are the non-brand workhorses.
• Closet Cabinetry ($401 CPL) and Closet Companies ($447 CPL) are the weakest ad groups. Candidates for budget reduction or restructuring.
This is the single biggest reason Richmond outperforms other markets. 80.5% of spend goes to Exact and Phrase match, which means Google shows ads only to people searching for what Closet Factory actually does.
Exact Match
Spend
$63,543
Conversions
360.3
CPL
$176
Phrase Match
Spend
$37,294
Conversions
177.1
CPL
$211
Broad Match
Spend
$21,656
Conversions
57.1
CPL
$379
AI Max
Spend
$2,857
Conversions
12.9
CPL
$221
The Match Type Tax — What Broad Match Costs
$176
Exact Match CPL
$211
Phrase Match CPL
$379
Broad Match CPL
Broad Match costs 2.15x more per lead than Exact Match. Every dollar shifted from Broad to Exact/Phrase produces more leads. Richmond limits Broad Match to 17.3% of spend. Markets like Chicago and Boston run 100% Broad Match through AI Max — and their waste rates show it.
Richmond's TV and radio investment creates brand awareness that translates directly into Google searches for "Closet Factory." These brand searches convert at $165/lead — nearly half the cost of closet-generic terms ($304/lead).
| Category | Spend | Conv | CPL | Share | Waste |
|---|---|---|---|---|---|
Brand | $68,446 | 414.2 | $165 | 68.2% | $5,218 |
Closet | $44,254 | 145.4 | $304 | 23.9% | $31,280 |
Competitor | $11,151 | 45.6 | $245 | 7.5% | $4,534 |
Generic | $998 | 0.2 | $4,990 | 0.0% | $998 |
Murphy/Wall Bed | $467 | 2.0 | $234 | 0.3% | $438 |
| Term | Conv | CPL | Spend |
|---|---|---|---|
| closet factory | 274.3 | $152 | $41,773 |
| closet factory richmond va | 35.7 | $230 | $8,196 |
| closet factory ashland | 23.4 | $87 | $2,029 |
| closet factory ashland va | 17.9 | $159 | $2,845 |
| closet factory richmond | 12.5 | $157 | $1,967 |
| closet factory near me | 11.6 | $152 | $1,760 |
| the closet factory | 9.2 | $154 | $1,420 |
| closet factory reviews | 8.3 | $111 | $918 |
| closet factory va | 5.0 | $172 | $860 |
| closet factory cost | 3.0 | $116 | $348 |
"closet factory" alone drives 274.3 conversions at $152/lead. "closet factory ashland" converts at $87/lead — the cheapest brand term. Local brand awareness from TV/radio creates these searches.
The Brand ad group is the engine. Everything else is supporting cast.
Brand
Spend share: 48.0%
Conv share: 62.2%
Waste: $2,012 (3%)
Closet Types
Spend share: 13.3%
Conv share: 8.4%
Waste: $8,123 (49%)
Competitors
Spend share: 8.3%
Conv share: 7.6%
Waste: $3,559 (34%)
Closet Builders
Spend share: 7.9%
Conv share: 6.0%
Waste: $7,811 (79%)
Closet Cabinetry
Spend share: 5.2%
Conv share: 2.7%
Waste: $5,805 (88%)
Closet Companies
Spend share: 5.2%
Conv share: 2.4%
Waste: $5,620 (87%)
Closet Designers
Spend share: 4.8%
Conv share: 3.9%
Waste: $3,462 (58%)
Closet Design
Spend share: 2.7%
Conv share: 1.3%
Waste: $1,707 (50%)
Closets
Spend share: 2.6%
Conv share: 3.1%
Waste: $2,247 (70%)
Pantry Systems
Spend share: 2.0%
Conv share: 2.5%
Waste: $2,121 (84%)
Key Insight: Spend-to-Conversion Efficiency
Brand gets 48% of spend but delivers 62.2% of conversions — a 14-point efficiency premium. The Competitors ad group gets 8.3% of spend and delivers 7.6% of conversions — roughly break-even. The bottom three ad groups (Closet Cabinetry, Closet Companies, Closet Design) get 13.1% of spend but deliver only 6.4% of conversions — they're dragging down the average.
People search for competitors, see Closet Factory's ad, and click. Some convert. Here's who's worth the spend.
| Competitor | Conv | Spend | CPL | Waste | Action |
|---|---|---|---|---|---|
| Closets by Design | 28.6 | $6,019 | $210 | $922 | KEEP & FUND |
| California Closets | 12.0 | $2,886 | $241 | $948 | KEEP & FUND |
| Inspired Closets | 3.0 | $835 | $278 | $124 | KEEP & WATCH |
| Closet Solutions | 2.0 | $250 | $125 | $33 | KEEP & WATCH |
| Lowe's | 2.0 | $341 | $171 | $299 | KEEP & WATCH |
| Container Store | 0 | $662 | — | $662 | WATCH |
| Tailored Closet | 0 | $97 | — | $97 | WATCH |
| Wayfair | 0 | $77 | — | $77 | BLOCK |
| Elfa | 0 | $64 | — | $64 | BLOCK |
| EasyClosets | 0 | $58 | — | $58 | BLOCK |
| ClosetMaid | 0 | $54 | — | $54 | BLOCK |
Converting Competitors — Keep Funding
Closets by Design (28.6 conv, $210 CPL) and California Closets (12.0 conv, $241 CPL) are the two biggest conquest sources. People searching for these competitors are in-market buyers who click on Closet Factory's ad. This is working.
Retail Brands — Block These
Wayfair ($77 wasted), Elfa ($64), EasyClosets ($58), ClosetMaid ($54) — these are DIY retail shoppers, not custom closet buyers. Add these as negative keywords. They never convert.
$42,467 wasted on zero-conversion terms over 6 months. That's 33.9% of search spend — the lowest waste rate of any market we've analyzed.
Total Waste
$42,467
Zero-conv spend
Waste Rate
33.9%
vs. 45%+ in other markets
Monthly Waste
$7,078
$7,078/month
Zero-Conv Terms
2,202
With spend attached
Waste by Category
| Category | Waste | % of Total Waste | Waste Rate |
|---|---|---|---|
Closet | $31,280 | 73.7% | 70.7% |
Brand | $5,218 | 12.3% | 7.6% |
Competitor | $4,534 | 10.7% | 40.7% |
Generic | $998 | 2.4% | 100% |
Murphy/Wall Bed | $438 | 1.0% | 93.7% |
Even Richmond Has Structural Waste
73.7% of waste ($31,280) is on closet-related terms that are relevant to CF's business but didn't convert. "closet organizer," "custom closets near me," "closet design" — these are real potential customers who clicked but didn't become leads. This is the nature of Broad Match (17.3% of Richmond's spend). In markets running 100% Broad Match, this problem is 3-4x worse.
Side-by-side comparison showing why structure matters more than budget.
| Market | CPL | Waste Rate | Exact+Phrase | Campaigns | Brand Conv % |
|---|---|---|---|---|---|
Richmond | $206 | 33.9% | 80.5% | 1 | 62.2% |
Virginia Beach | $289 | 48.2% | 13.6% | 2 | 55.3% |
Chicago | $212 | 44.6% | 0% | 2 | 52.1% |
Boston | $203 | 49.1% | 0% | 1 | 49.9% |
Pittsburgh | $232 | 41.3% | 0% | 1 | 53.8% |
The Pattern Is Clear
More Exact/Phrase match = lower CPL. Richmond (80.5% → $206 CPL) vs. Chicago (0% → $212 CPL) vs. Virginia Beach (13.6% → $289 CPL).
Fewer campaigns = less waste. Richmond (1 campaign → 33.9% waste) vs. Virginia Beach (2 campaigns → 48.2% waste) vs. Boston (1 campaign → 49.1% waste, but 100% Broad).
Higher brand conversion share = lower blended CPL. Richmond (62.2% brand) vs. Boston (49.9% brand) vs. Chicago (52.1% brand). Brand searches cost half what generic searches cost.
If you want to replicate Richmond's results in another market, here are the five structural elements that matter.
One Search Campaign, Not Two or Three
Richmond runs a single AI Max Search campaign. No Performance Max cannibalizing branded search traffic. No budget fragmentation. One campaign means one set of negative keywords, one budget to optimize, one set of ad groups to manage.
1 campaign → $206 CPL
Exact + Phrase Match for 80%+ of Spend
50.7% Exact Match ($176 CPL), 29.8% Phrase Match ($211 CPL). Only 17.3% leaks to Broad Match ($379 CPL). This means Google shows ads to people searching for exactly what CF offers — not tangentially related terms like 'kitchen remodeling' or 'interior designers.'
Exact Match CPL: $176 vs. Broad: $379
Fund the Brand Ad Group Heavily
48% of spend goes to the Brand ad group, which delivers 62.2% of conversions at $159/lead. This is not waste — this is capturing demand created by TV and radio. Every brand search that goes uncaptured is a customer handed to a competitor.
Brand: $159/lead vs. Generic: $304/lead
Keep Competitor Conquest Active
Closets by Design (28.6 conv) and California Closets (12.0 conv) are real conversion sources. People searching for competitors and clicking on CF's ad are in-market buyers. Don't negate competitor names.
45.6 conversions from competitor searches
Invest in TV and Radio to Create Brand Demand
Richmond has TV and radio. This creates the brand searches that convert at $165/lead instead of $304/lead. Without media investment, you're stuck paying generic CPLs — which are 84% more expensive. The cheapest lead is the one who already knows your name.
Brand CPL: $165 vs. Non-brand: $304