aDymicdigital company
U.S. Waterproofingbacked byRotunda Capital Partners

case study · paid search ads

same leads from 69% fewer paid visits

U.S. Waterproofing’s Google search ads held their leads on 69% fewer visits. The lead rate rose from 4.26% to 13.90%, and ads that brought almost no leads were cut.

client
U.S. Waterproofing
sponsor
Rotunda Capital Partners
industry
Home services · basement waterproofing and foundation repair
period
Oct 2024 – Oct 2026, this year against the year before
sources
GA4, Google Search Console, SEMrush, Ahrefs

the result that matters

booked three months out.

U.S. Waterproofing reports more demand than its crews can serve: booked three months ahead and unable to take on more leads. That’s backlog on the calendar, not a forecast.

Reported by U.S. Waterproofing, October 2026.

+226%

Share of Google search ad visits that became leads (4.26% → 13.90%)

  • 4,382 → 4,395

    Leads from Google search ads: held steady

  • −69%

    Fewer paid search visits needed to get them

  • 42.6% → 66.3%

    Share of paid visits where people engaged with the site

paid_search_yoy.xlsx
fx=YOY(U.S. WATERPROOFING)
A
B
C
D
1
measure
oct 2024–25
oct 2025–26
change
2
Google search ads: visits
102,807
31,614
−69.2%
3
Google search ads: leads
4,382
4,395
held steady
4
Google search ads: lead rate
4.26%
13.90%
+226%
5
Google search ads: engagement rate
42.6%
66.3%
+23.7 points
6
Cross-network ads (Performance Max): visits
268,133
41,391
−84.6%
7
Cross-network ads: lead rate
1.08%
3.20%
+197%
8
Bing search ads: lead rate
0.81%
2.56%
+216%
  1. (01)

    the leak

    The ads were buying a lot of visits that never became a job. Display, regional display and native ads (banner and sponsored-post ads on other websites) drew around 165,000 visits and brought in 33 leads.

  2. (02)

    what changed

    Tighter control over which searches the ads show for, landing pages that match what people searched for, and the display and native ads that weren’t bringing leads switched off.

  3. (03)

    the result

    Google search ads brought the same leads from under a third of the visits, and every paid source now turns more visits into leads: Google, Performance Max and Bing.

what it's worth

Same leads, far fewer clicks to pay for. And with the company reporting it’s booked three months out, the next move isn’t buying more leads. It’s spending less on the ones it needs.

Ad cost data wasn’t part of this study, so the dollars saved aren’t shown yet. When they are, that becomes the headline.

the company

U.S. Waterproofing fixes wet basements and cracked foundations around Chicago. It was founded in 1957. Rotunda Capital Partners invested in 2022, the first deal from its Fund III, as the platform for a buy-and-build. Since then, add-ons Crawl Space Brothers, Foundation Solutions 360 and Engineered Solutions of Georgia have joined.

notes on the numbers

  1. 1Figures compare Oct 9, 2025 – Oct 9, 2026 with Oct 9, 2024 – Oct 8, 2025, from GA4 (Google Analytics) and Google Search Console. A lead is what GA4 counts as a conversion. The lead rate is leads divided by visits.
  2. 2We leave out the website’s total visits and total leads on purpose. Bot traffic, leads counted twice and visits the site wrongly credits to itself make both totals wrong. Fixing that tracking is the next step, and the numbers here, broken out by source, should improve when it’s done.
  3. 3Cross-network is GA4’s name for Performance Max and similar campaigns.
  4. 4This result is about the share of visits that became leads. Cost, cost per lead and return on ad spend weren’t in the data pulled for this study.

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