The question investors actually ask about paid search is not how many leads it produces. It is whether the leads pay for the ads. Get Home Values Online ran it long enough to answer that properly.
$12,700 of their own ad spend produced 455 leads at $27.90 each, from 4,130 clicks and 311,000 impressions.
Those leads became three wholesale assignments worth $57,000 and one fix-and-flip worth $42,000.
$99,000 against $12,700 spent — a 7.8x return on that ad spend. The spend went to Google; the deals were theirs to work.