Microsoft AdvertisingSearchPerformance MaxFull-funnel buildPerformance advisory
44× ROAS on search. Then automation made it scale.
Search and Performance Max on Microsoft Advertising · figures published by Microsoft, 2024
APHArchon Programmatic House·2 min read
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The 60-second version
An airline with strict ROAS targets wanted acquisition beyond the saturated channels — and wanted Microsoft Advertising to earn a structural place in the mix rather than a test budget.
44×ROAS on searchAlways-on campaigns
33×ROAS on PMAXWithin five months
150+DestinationsAcross 54 countries
2EnginesSearch, then automation
Outcome: Microsoft Advertising moved from experiment to fixture in the airline’s international acquisition strategy.
All figures on this page are from Microsoft Advertising’s own published Pegasus Airlines case study (2024). We cite them; we do not claim them as our measurement.
What they wanted01The brief
Pegasus Airlines flies to more than 150 destinations across 54 countries. The ask was efficient revenue growth under strict ROAS targets — acquisition beyond the saturated channels, with Microsoft Advertising earning a structural place in the marketing mix rather than a test budget.
What was built02The approach
01
Always-on search
Flight-related, high-intent queries across the priority international markets — the ones where Bing’s share of desktop search runs deepest.
02
Performance Max, to scale what search proved
Launched in July. Microsoft’s automation bidding toward the same strict ROAS targets, expanding reach without expanding the team’s workload.
What happened03The results
44× ROAS across the always-on search campaigns, and 33× ROAS within five months of the Performance Max launch — automation reaching near-search efficiency at scale, and reaching it fast.
On high-intent categories like flights, Microsoft’s audience is not a rounding error.
Exhibit 1 · published by MicrosoftReturn against spend, on the always-on search campaigns.The narrow bar is one unit of spend. The wide bar is what came back.Figures from Microsoft Advertising’s published Pegasus Airlines case study, 2024. Bars are proportional to the stated multiple.
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