GROWTH VS. EFFICIENCY IN PPC: WHY YOU CAN'T MAXIMIZE BOTH (AND HOW TO CHOOSE)

Summary from the TLDR Marketing newsletter

Growth and efficiency cannot be maximized at the same time because performance marketing requires a tradeoff between volume and cost. When a company pushes for growth, it must bid more aggressively and expand targeting, which raises costs and lowers efficiency. When it prioritizes efficiency, it tightens bids and targeting, which improves ROAS or CPA but reduces volume and can stall campaigns. The best approach is to choose one primary goal and set the other as a guardrail. The right focus depends on factors like margins, cash flow, market saturation, and capacity, and it should shift as business conditions change.