The 2026 SMB marketing benchmark

Where SMB marketing budgets actually leak.

Wasted ad spend statistics from 74 published case highlights across 9 industries. Compare annual case figures with separately published spend ratios and their definitions.

  • 74 published cases
  • 9 industries
  • 2026 edition

The headline number

$58k

lower median of the published annual highlight figures from 74 cases. Outcome types and recovery periods differ; this is not a median cash recovery.

74audits
9industries
5 to 7working days to find it

Interactive

Explore the benchmark by industry and spend.

Published case outcome type

Model leak-share curve at $40k a month

Model leak-share curve and published case figures by industryCumulative model curve of the annual leak in dollars from p10 to p90 at the selected industry and monthly spend, with the published case figures of that industry on a strip below. Each dot opens its case study.$57k$82k$110kYouLower median of the published figures: $53kCase 01 · Scaling spend was hiding a $134k annual margin leak: $134kCase 02 · A discount habit was training the best customers to wait: $68kCase 03 · The agency’s ‘winning’ campaign was the biggest loser: $53kCase 04 · Free shipping was quietly deleting the margin on every third order: $47kCase 05 · Retargeting was paid twice for the same customer: $31kCase 06 · Bestsellers were priced below their true landed cost: $59kCase 07 · Subscription churn was masked by aggressive new-trial spend: $55kCase 08 · Bundles were cannibalizing full-price hero SKUs: $38kCase 43 · FBA fees and returns had overtaken the margin on the hero ASINs: $61kCase 44 · Affiliate commissions were being paid on sales the brand already owned: $44kLower median of the published figures: $52kCase 09 · Paid was subsidizing a channel sales already owned: $41kCase 10 · The cheapest leads were the most expensive customers: $68kCase 11 · Content spend had no path to revenue: $36kCase 12 · A $1.2M ad budget hid a 40% wasted-impression rate: $74kCase 13 · Free-tier support cost more than the plan earned: $52kCase 45 · Late-quarter discounting was quietly eroding ACV margin: $92kCase 46 · A billing config gap left usage overages uncharged: $70kCase 47 · Partner referral fees were paid on deals sales had sourced directly: $47kLower median of the published figures: $66kCase 14 · CAC looked fine, until we split it by cohort: $82kCase 15 · Supply-side incentives outlived their purpose: $63kCase 16 · Take-rate was leaking through unmanaged refunds: $44kCase 48 · Promotional fee waivers were never switched off: $58kCase 49 · Buyer subsidies outran the repeat GMV they were meant to unlock: $66kCase 50 · Paid search was bidding on supply the platform already ranked for: $66kCase 51 · Courier incentives overlapped organic supply in dense zones: $74kLower median of the published figures: $51kCase 17 · Growth spend was outrunning retention: $51kCase 18 · Annual plans were discounted below their retention value: $57kCase 19 · Win-back campaigns were re-buying customers who’d have returned free: $33kCase 20 · Shipping tiers didn’t match cohort value: $41kCase 52 · Weak payment recovery was leaking revenue as involuntary churn: $52kCase 53 · The pause and skip flow was leaking straight to cancellation: $47kCase 54 · Seat true-ups were under-billed as accounts grew: $63kLower median of the published figures: $54kCase 21 · Online ads were paying for in-store demand: $88kCase 22 · Loyalty points cost more than the repeat they drove: $71kCase 23 · Markdown timing was leaving margin on the shelf: $49kCase 55 · Returns processing cost was missing from channel economics: $69kCase 56 · Click-and-collect was subsidizing the delivery it replaced: $54kCase 57 · Vendor promo funding wasn’t covering the margin given away: $41kCase 58 · Payment fees varied by tender and went unmanaged: $38kCase 59 · Free assembly and delivery were bundled below cost on big-ticket lines: $58kLower median of the published figures: $47kCase 24 · Lead spend ignored close-rate by source: $47kCase 25 · Intake was dropping a third of qualified calls: $62kCase 26 · Every location bought the same keywords against each other: $39kCase 27 · Retainers were priced below delivery cost: $54kCase 60 · Fixed-fee packages were scoped below the hours they consumed: $52kCase 61 · Job-board spend was spread evenly regardless of fill rate: $39kCase 62 · Travel and onboarding time was going unbilled: $47kCase 63 · Quoting ignored callback and warranty cost: $44kLower median of the published figures: $83kCase 28 · Incentive spend acquired users who never funded: $96kCase 29 · CAC payback was twice what the board believed: $57kCase 30 · Interchange margin varied wildly by acquisition channel: $83kCase 64 · Acquisition ignored default rate by channel: $88kCase 65 · Free planning support cost more than small accounts earned: $61kCase 66 · Referral rewards were paid on self-referred and gamed volume: $83kCase 67 · Broker commissions were flat across very different loss ratios: $72kLower median of the published figures: $64kCase 31 · Seasonal media weight ignored when the category actually converted: $60kCase 32 · Unbranded search was paying for traffic the brand site already won: $78kCase 33 · HCP and patient budgets were optimized in isolation: $64kCase 34 · Subscription acquisition ignored regulatory-driven churn: $44kCase 68 · Detailing and sample spend produced no prescribing lift: $64kCase 69 · Media ran outside the eligible-population windows: $58kCase 70 · Retail-vet channel discounts were set below margin: $49kCase 71 · Patient-acquisition spend ran above what reimbursement paid: $71kCase 72 · Congress and KOL sponsorship showed no measurable return: $88kLower median of the published figures: $64kCase 35 · Rising freight never reached the price list: $72kCase 36 · Volume rebates were paid on orders that never hit the tier: $118kCase 37 · Distributor margin was set once and never revisited: $64kCase 38 · Trade-show spend had no attributable pipeline: $41kCase 39 · DTC ads were cannibalizing higher-margin retail: $73kCase 40 · Configurator upsells were discounted below their cost: $57kCase 41 · Dead SKUs tied up the margin in slow catalog lines: $48kCase 42 · Dealer co-op funds were subsidizing competitors’ leads: $69kCase 73 · Small-order handling cost exceeded the margin on the order: $57kCase 74 · A surcharge lag was never passed into customer contracts: $79kLower median of the published figures: $58kCase 01 · Scaling spend was hiding a $134k annual margin leak: $134kCase 02 · A discount habit was training the best customers to wait: $68kCase 03 · The agency’s ‘winning’ campaign was the biggest loser: $53kCase 04 · Free shipping was quietly deleting the margin on every third order: $47kCase 05 · Retargeting was paid twice for the same customer: $31kCase 06 · Bestsellers were priced below their true landed cost: $59kCase 07 · Subscription churn was masked by aggressive new-trial spend: $55kCase 08 · Bundles were cannibalizing full-price hero SKUs: $38kCase 09 · Paid was subsidizing a channel sales already owned: $41kCase 10 · The cheapest leads were the most expensive customers: $68kCase 11 · Content spend had no path to revenue: $36kCase 12 · A $1.2M ad budget hid a 40% wasted-impression rate: $74kCase 13 · Free-tier support cost more than the plan earned: $52kCase 14 · CAC looked fine, until we split it by cohort: $82kCase 15 · Supply-side incentives outlived their purpose: $63kCase 16 · Take-rate was leaking through unmanaged refunds: $44kCase 17 · Growth spend was outrunning retention: $51kCase 18 · Annual plans were discounted below their retention value: $57kCase 19 · Win-back campaigns were re-buying customers who’d have returned free: $33kCase 20 · Shipping tiers didn’t match cohort value: $41kCase 21 · Online ads were paying for in-store demand: $88kCase 22 · Loyalty points cost more than the repeat they drove: $71kCase 23 · Markdown timing was leaving margin on the shelf: $49kCase 24 · Lead spend ignored close-rate by source: $47kCase 25 · Intake was dropping a third of qualified calls: $62kCase 26 · Every location bought the same keywords against each other: $39kCase 27 · Retainers were priced below delivery cost: $54kCase 28 · Incentive spend acquired users who never funded: $96kCase 29 · CAC payback was twice what the board believed: $57kCase 30 · Interchange margin varied wildly by acquisition channel: $83kCase 31 · Seasonal media weight ignored when the category actually converted: $60kCase 32 · Unbranded search was paying for traffic the brand site already won: $78kCase 33 · HCP and patient budgets were optimized in isolation: $64kCase 34 · Subscription acquisition ignored regulatory-driven churn: $44kCase 35 · Rising freight never reached the price list: $72kCase 36 · Volume rebates were paid on orders that never hit the tier: $118kCase 37 · Distributor margin was set once and never revisited: $64kCase 38 · Trade-show spend had no attributable pipeline: $41kCase 39 · DTC ads were cannibalizing higher-margin retail: $73kCase 40 · Configurator upsells were discounted below their cost: $57kCase 41 · Dead SKUs tied up the margin in slow catalog lines: $48kCase 42 · Dealer co-op funds were subsidizing competitors’ leads: $69kCase 43 · FBA fees and returns had overtaken the margin on the hero ASINs: $61kCase 44 · Affiliate commissions were being paid on sales the brand already owned: $44kCase 45 · Late-quarter discounting was quietly eroding ACV margin: $92kCase 46 · A billing config gap left usage overages uncharged: $70kCase 47 · Partner referral fees were paid on deals sales had sourced directly: $47kCase 48 · Promotional fee waivers were never switched off: $58kCase 49 · Buyer subsidies outran the repeat GMV they were meant to unlock: $66kCase 50 · Paid search was bidding on supply the platform already ranked for: $66kCase 51 · Courier incentives overlapped organic supply in dense zones: $74kCase 52 · Weak payment recovery was leaking revenue as involuntary churn: $52kCase 53 · The pause and skip flow was leaking straight to cancellation: $47kCase 54 · Seat true-ups were under-billed as accounts grew: $63kCase 55 · Returns processing cost was missing from channel economics: $69kCase 56 · Click-and-collect was subsidizing the delivery it replaced: $54kCase 57 · Vendor promo funding wasn’t covering the margin given away: $41kCase 58 · Payment fees varied by tender and went unmanaged: $38kCase 59 · Free assembly and delivery were bundled below cost on big-ticket lines: $58kCase 60 · Fixed-fee packages were scoped below the hours they consumed: $52kCase 61 · Job-board spend was spread evenly regardless of fill rate: $39kCase 62 · Travel and onboarding time was going unbilled: $47kCase 63 · Quoting ignored callback and warranty cost: $44kCase 64 · Acquisition ignored default rate by channel: $88kCase 65 · Free planning support cost more than small accounts earned: $61kCase 66 · Referral rewards were paid on self-referred and gamed volume: $83kCase 67 · Broker commissions were flat across very different loss ratios: $72kCase 68 · Detailing and sample spend produced no prescribing lift: $64kCase 69 · Media ran outside the eligible-population windows: $58kCase 70 · Retail-vet channel discounts were set below margin: $49kCase 71 · Patient-acquisition spend ran above what reimbursement paid: $71kCase 72 · Congress and KOL sponsorship showed no measurable return: $88kCase 73 · Small-order handling cost exceeded the margin on the order: $57kCase 74 · A surcharge lag was never passed into customer contracts: $79k
Model p10$57k
Model median$82k
Model p90$110k

No pooled curve is published for all industries. Pick an industry to see its model quantiles; the strip shows every published case.

Model quantiles for the selected industry and spend. Not a measured peer distribution.

Your estimate is marked on the curve. Open your results
Read this chart as a table
Model quantiles at $40k a month by industry, and published cases
Industryp10p25Medianp75p90Published cases
DTC / Ecommerce$57k$72k$82k$92k$110k10
B2B SaaS$42k$53k$60k$67k$81k8
Marketplace$53k$67k$76k$85k$102k7
Subscription$50k$63k$71k$80k$96k7
Retail$58k$73k$84k$93k$112k8
Services$54k$68k$78k$87k$105k8
Fintech$49k$62k$71k$79k$95k7
Pharma$54k$68k$77k$86k$104k9
Manufacturing$54k$67k$77k$86k$103k10
All industriesNo pooled curve; see each industry74

Published cases: DTC / Ecommerce (10)

Lower median of the published figures

$53,000

One highlight figure per case. Outcome types differ. Each dot on the strip above opens its case study.

See all 10 DTC / Ecommerce cases

Model reference vs published lower median

Model reference$54kper year
Case lower median$53,000per year

The industry reference amounts are model references, distinct from the lower medians of published case figures. Equal figures in some sectors do not make these the same statistic.

Where $100 of spend goes

Effective spend$62
Wasted paid spend$22
Mispriced offers$9
Leaky retention$7

Other published categories: about $38. It is a separate allocation from the 18.7% statistic. Spend denominators, overlap and weighting are not available in the case highlights; the remaining $38 is not a verified cash-recovery rate.

Continue in the DTC / Ecommerce estimator

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Estimate my leak

Model quantiles are scenarios from stated assumptions, not a measured peer distribution, and each dot is one selected figure per published case. Population, statistics and limitations · Data dictionary.

Finding 02 · Median leak by industry

Every category leaks, just in a different place.

Lower median annual highlight figure by industry, computed from the 74 published cases. These dollar figures do not establish a ranking by share of spend or realized recovery. Each row opens its industry page.

Finding 03 · The five leaks we find most

The same culprits, again and again.

68%
Non-incremental paid

Spend buying conversions that would have happened anyway.

54%
Attribution inflation

Channels over-credited for demand they did not create.

47%
Mispriced offers

Landed cost and freight never passed into pricing.

41%
Retention leaks

Churn and dunning quietly erasing acquisition gains.

33%
Discount habits

Always-on promos training buyers to wait for the code.

Published prevalence figures. Audit-level flags, eligible counts and the materiality threshold are not supplied here. Categories may overlap; percentages do not establish counts or a representative market rate.

Cite these numbers

Quoting the report? Take the sentence with you.

2026 edition · refreshed every January · next: Jan 2027
18.7%

MarginFix publishes an 18.7% median marketing-spend leak share. Underlying spend denominators, weighting and measurement periods are not supplied in the published case highlights.

$62 / $100

MarginFix publishes a $100 allocation of $62 effective spend, $22 paid spend, $9 pricing and $7 retention. This separate breakdown does not establish a 38% cash-recovery rate; weighting and overlap are not supplied.

$58k

The lower median annual highlight figure across 74 published MarginFix cases is $58k. Each case contributes one figure; outcome types and periods differ, and the statistic does not imply realized cash recovery.

68%

MarginFix publishes 68% prevalence for non-incremental paid spend. Eligible counts, audit-level flags and measurement periods are not supplied in the case highlights; this is not a market-wide rate.

$47k to $83k

Lower median annual highlight figures across the nine published MarginFix industry groups range from $47k to $83k. These are selected case figures, not typical cash-recovery forecasts.

Benchmark summary (CSV)

Free · 2026 SMB Marketing Benchmark · 74 published cases · tidy CSV, plus the data dictionary.

Download the CSV
In their words · what clients said after the readoutAll 60 →
DTC / ECOMMERCEApproved Feb 2025

$134k a year found in 6 days

Contribution margin on the two top campaigns: −7% → +9%

“Revenue grew and cash didn’t. Victoria rebuilt margin per order after shipping, returns and payment fees, and our two biggest prospecting campaigns were losing money on every sale. We stopped scaling them.”

Founder & CEO · DTC · Beauty & personal care
Written approvalUnder NDA6 days to findings
Portrait photograph of Victoria MillerVictoria MillerSenior Auditor · signed this audit off
Read the case →
MANUFACTURINGApproved Feb 2025

$118k a year of wasted spend cut in 7 days

Rebates paid on volume never actually earned: 19% → 1%

“Rebate expense outran distributor volume and we could not see why. Cristian reconciled rebates paid against volume actually shipped and paid for, tier by tier: accruals had run off gross purchase orders. Quarterly true ups now catch it.”

VP of Supply Chain · Manufacturing · Water pipe producer
Written approvalUnder NDA7 days to findings
Portrait photograph of Cristian BragauCristian BragauSenior Auditor · signed this audit off
Read the case →
FINTECHApproved Oct 2024

$96k a year of wasted spend cut in 7 days

App installs that funded a real account: 24% → 63%

“Installs looked great and funded accounts stagnated. David followed sign ups through to funding, and the bonus was buying registrations from people who claimed it and never transacted. Incentives now pay on activation, not the download.”

VP of Growth · Fintech · Consumer
Written approvalUnder NDA7 days to findings
Portrait photograph of David JacksonDavid JacksonSenior Auditor · signed this audit off
Read the case →
B2B SAASApproved Aug 2025

$92k a year found in 7 days

Enterprise deal margin lost to quarter end: 5 pts lost → 0 pts lost

“Bookings hit target while margin slipped. Cristian split our discounting by timing and rep: concessions spiked in the last days of every quarter because buyers had learned to wait. Approval thresholds fixed it without losing deals.”

CRO · B2B SaaS · Enterprise
Written approvalUnder NDA7 days to findings
Portrait photograph of Cristian BragauCristian BragauSenior Auditor · signed this audit off
Read the case →
RETAILApproved Mar 2026

$88k a year of wasted spend cut in 7 days

Paid social proven to lift store visits: ~1 in 3 → 9 in 10

“Our CFO doubted that online ads drove store visits. David’s matched market geo lift test proved the doubt right: footfall barely changed where the ads were off. The budget moved to markets and channels that passed the test.”

VP of Marketing · Retail · Omnichannel
Written approvalUnder NDA7 days to findings
Portrait photograph of David JacksonDavid JacksonSenior Auditor · signed this audit off
Read the case →
FINTECHApproved Aug 2026

−27% risk adjusted CAC in 7 days

Risk adjusted acquisition cost per loan: $540 → $400

“Our cheapest channel was our worst credit. David split default rates by acquisition source: the low CAC channels brought borrowers who defaulted materially more often. Budget now follows risk adjusted cost per loan, not just CAC.”

CRO · Fintech · Lending
Written approvalUnder NDA7 days to findings
Portrait photograph of David JacksonDavid JacksonSenior Auditor · signed this audit off
Read the case →
PHARMAApproved Nov 2024

$88k a year of wasted spend cut in 7 days

Congress spend with a tracked return: 8% → 88%

“Six figures a year in congresses and KOL sponsorships, renewed on habit. Leslie tried to connect it to share of voice, engagement or prescribing and found no instrumentation at all. The unmeasurable part now funds engagement we can track.”

Head of Commercial Strategy · Pharma · Biopharma
Written approvalUnder NDA7 days to findings
Portrait photograph of Leslie MartinLeslie MartinSenior Auditor · signed this audit off
Read the case →
FINTECHApproved Aug 2025

$83k a year of wasted spend cut in 7 days

Referral rewards on genuine, nongamed volume: 67% → 98%

“Referral payouts grew faster than real users. David examined the volume behind the rewards: self referrals through second accounts, circular trades, wash volume. Integrity checks now run before any payout; gamed rewards were clawed back.”

Chief Risk Officer · Fintech · Exchange
Written approvalUnder NDA7 days to findings
Portrait photograph of David JacksonDavid JacksonSenior Auditor · signed this audit off
Read the case →
FINTECHApproved May 2025

$83k a year found in 7 days

Interchange margin on the worst channel: +0.4% → +2.4%

“Every channel cost the same per merchant, so we treated them as interchangeable. David split profitability down to the interchange line: some channels brought merchants who earned us a fraction. Budget now follows margin, not just CAC.”

VP of Risk · Fintech · Payments
Written approvalUnder NDA7 days to findings
Portrait photograph of David JacksonDavid JacksonSenior Auditor · signed this audit off
Read the case →
MANUFACTURINGApproved Jan 2025

$79k a year found in 7 days

Contract margin vs live input costs: 9% → 16%

“Volume was stable and contract margin kept eroding. Cristian compared resin, board and energy cost movements against the surcharges we actually passed through, and the lag was costing us every month. An indexed pass through fixed it.”

VP of Sales · Manufacturing · Packaging
Written approvalUnder NDA7 days to findings
Portrait photograph of Cristian BragauCristian BragauSenior Auditor · signed this audit off
Read the case →
PHARMAApproved Dec 2025

$78k a year of wasted spend cut in 7 days

High intent visitors paid for twice: ~1 in 3 → ~1 in 30

“Two teams, two search programs, one visitor bought twice. Leslie looked at branded and disease awareness search together for the first time: about one high intent visitor in three was paid for twice. Shared negatives and one plan ended it.”

VP of Marketing · Pharma · Rx brand (DTC)
Written approvalUnder NDA7 days to findings
Portrait photograph of Leslie MartinLeslie MartinSenior Auditor · signed this audit off
Read the case →
B2B SAASApproved Dec 2025

$74k a year of wasted spend cut in 7 days

Share of all impressions hitting no convert inventory: 40% → 6%

“Forty percent of our impressions landed where buyers never convert. Cristian’s delivery teardown found placement, dayparting and geo settings untouched since launch on a seven figure budget. We rebuilt them.”

VP of Demand Generation · B2B SaaS · Vertical
Written approvalUnder NDA7 days to findings
Portrait photograph of Cristian BragauCristian BragauSenior Auditor · signed this audit off
Read the case →
MARKETPLACEApproved Feb 2026

$74k a year of wasted spend cut in 7 days

Courier bonuses paid into already full zones: 22% → 3%

“Incentive spend rose while service levels stayed flat. Alex matched bonus payouts against real time courier availability by zone: in dense areas we paid couriers who would have worked anyway. Bonuses now fire only where coverage is short.”

VP of Supply Growth · Marketplace · Food delivery
Written approvalUnder NDA7 days to findings
Portrait photograph of Alex PopAlex PopSenior Auditor · signed this audit off
Read the case →
FINTECHApproved Sep 2024

$72k a year found in 7 days

Portfolio margin across the product mix: 11% → 17%

“One flat commission across very different products steered brokers to the wrong mix. David set commission against each product’s margin and loss ratio; thin lines were being sold near unprofitable. Commission now follows the margin band.”

VP of Risk & Growth · Fintech · Insurtech
Written approvalUnder NDA7 days to findings
Portrait photograph of David JacksonDavid JacksonSenior Auditor · signed this audit off
Read the case →
MANUFACTURINGApproved Jul 2026

$72k a year found in 7 days

Landed margin on the flat pack lines: −1% → +6%

“We held prices for two years and freight did not. Cristian rebuilt landed cost from current carrier invoices: oversized carton surcharges had erased the margin on every flat pack line. We repriced and redesigned the worst packaging.”

Head of Operations · Manufacturing · Kids furniture
Written approvalUnder NDA7 days to findings
Portrait photograph of Cristian BragauCristian BragauSenior Auditor · signed this audit off
Read the case →
RETAILApproved Apr 2025

$71k a year of wasted spend cut in 7 days

Loyalty program margin vs its liability: −8% → +6%

“Loyalty was untouchable, so nobody had priced it. David set our accrued point liability against the incremental margin the program drove, and it was underwater. We restructured earn and burn without gutting the rewards members value.”

VP of Customer Loyalty · Retail · Grocery
Written approvalUnder NDA7 days to findings
Portrait photograph of David JacksonDavid JacksonSenior Auditor · signed this audit off
Read the case →
PHARMAApproved Jan 2025

$71k a year of wasted spend cut in 7 days

Acquisition cost vs reimbursement per test: 122% → 78%

“Acquisition and reimbursement sat with different teams, so nobody compared them. Cristian reconciled cost per patient against reimbursement per test: several high volume tests lost money on every patient we marketed in. We capped those.”

CFO · Pharma · Diagnostics
Written approvalUnder NDA7 days to findings
Portrait photograph of Cristian BragauCristian BragauSenior Auditor · signed this audit off
Read the case →
B2B SAASApproved Nov 2025

$70k a year found in 6 days

Billable usage actually invoiced: 92% → 99%

“I expected a slide deck. Alex reconciled metered usage against invoices and found a whole category of overages recorded for analytics but never billed. A config fix, no price change, and customers expected to pay for it anyway.”

Head of Growth · B2B SaaS · Usage based
Written approvalUnder NDA6 days to findings
Portrait photograph of Alex PopAlex PopSenior Auditor · signed this audit off
Read the case →
RETAILApproved Oct 2025

$69k a year of wasted spend cut in 7 days

Online margin once its returns are charged in: 2% → 9%

“Online looked as profitable as our stores, which felt wrong. David charged returns processing to the channel that generated each return, and online’s margin fell from flattering to honest. We stopped scaling the wrong channel.”

Head of Ecommerce Logistics · Retail · Fashion
Written approvalUnder NDA7 days to findings
Portrait photograph of David JacksonDavid JacksonSenior Auditor · signed this audit off
Read the case →
MANUFACTURINGApproved May 2025

$69k a year of wasted spend cut in 7 days

Co-op budget spent promoting rival brands: 28% → 3%

“Our co-op money was promoting our competitors. Cristian reviewed what distributors actually spent it on: campaigns featured rival brands next to ours, sometimes more prominently. Reimbursement now needs proof of brand presence.”

Director of Distribution · Manufacturing · HVAC components
Written approvalUnder NDA7 days to findings
Portrait photograph of Cristian BragauCristian BragauSenior Auditor · signed this audit off
Read the case →
DTC / ECOMMERCEApproved May 2026

$68k a year found in 6 days

Full price sell through: 61% → 78%

“Our best customers had learned to wait for a code. Victoria showed that a large share of discounted orders would have happened at full price anyway. We moved to a tiered structure for new customers and bigger baskets, and volume held.”

CMO · D2C · Food & beverage
Written approvalUnder NDA6 days to findings
Portrait photograph of Victoria MillerVictoria MillerSenior Auditor · signed this audit off
Read the case →
MARKETPLACEApproved Apr 2025

$66k a year of wasted spend cut in 6 days

Paid clicks the site already won organically: ~1 in 3 → ~1 in 30

“We were bidding on terms we already ranked for. Alex paused paid search on those terms in a test and bookings barely moved. Roughly one paid click in three we would have won for free. That spend now goes where paid actually adds demand.”

Head of Performance Marketing · Marketplace · Travel & experiences
Written approvalUnder NDA6 days to findings
Portrait photograph of Alex PopAlex PopSenior Auditor · signed this audit off
Read the case →
PHARMAApproved Jun 2025

$64k a year of wasted spend cut in 7 days

Detailing spend that moved no prescribing: 28% → 4%

“Reach and call counts looked healthy. Leslie matched detailing and samples to prescribing change per HCP, and 28% of the effort landed on physicians it never moved. Field time now follows responsiveness, not coverage targets.”

Head of Commercial Operations · Pharma · Generics
Written approvalUnder NDA7 days to findings
Portrait photograph of Leslie MartinLeslie MartinSenior Auditor · signed this audit off
Read the case →
PHARMAApproved Jan 2026

$64k a year of wasted spend cut in 6 days

Budget lost to the two teams overbidding: 22% → 3%

“Our HCP and patient agencies were bidding against each other for the same impressions. Cristian examined both programs together for the first time and merged audience planning. Reach held, and the internal premium was gone.”

Director of Commercial Operations · Pharma · Medtech / device
Written approvalUnder NDA6 days to findings
Portrait photograph of Cristian BragauCristian BragauSenior Auditor · signed this audit off
Read the case →
MANUFACTURINGApproved Apr 2025

$64k a year found in 6 days

Dealer margin on the engineered range: 14% → 20%

“One dealer discount across the whole catalog felt simple. Cristian set it against margin at product level: commodity fittings got a generous cut while our engineered range subsidized them. Discount tiers by margin band fixed it.”

VP of Global Sales · Manufacturing · Water systems
Written approvalUnder NDA6 days to findings
Portrait photograph of Cristian BragauCristian BragauSenior Auditor · signed this audit off
Read the case →
MARKETPLACEApproved Sep 2025

$63k a year of wasted spend cut in 6 days

Supply incentives hitting a real shortage: 35% → 94%

“Our onboarding bonus solved a shortage we no longer had. Alex checked every incentive against current supply by category, and we were still paying to recruit providers in saturated ones. We kept bonuses only where supply is genuinely short.”

Head of Marketplace Supply · Marketplace · Services
Written approvalUnder NDA6 days to findings
Portrait photograph of Alex PopAlex PopSenior Auditor · signed this audit off
Read the case →
SUBSCRIPTIONApproved Sep 2024

$63k a year found in 6 days

Active users actually being billed: 93% → 99%

“Expansion lagged what we saw inside accounts. Victoria reconciled active users against billed seats: many customers used more seats than they paid for. Automated true ups now capture it, and nobody pushed back.”

VP of Finance · Subscription · B2B software
Written approvalUnder NDA6 days to findings
Portrait photograph of Victoria MillerVictoria MillerSenior Auditor · signed this audit off
Read the case →
SERVICESApproved May 2025

$62k a year found in 6 days

Qualified inbound calls that became bookings: 2 in 3 → 9 in 10

“Marketing hit every target and revenue stalled. Leslie followed our qualified calls into intake and about a third were dropped at busy times or never followed up. Fixing staffing and call handling converted demand we had already paid for.”

Managing Partner · Services · Legal
Written approvalUnder NDA6 days to findings
Portrait photograph of Leslie MartinLeslie MartinSenior Auditor · signed this audit off
Read the case →
DTC / ECOMMERCEApproved Nov 2024

$61k a year found in 6 days

Net margin on hero ASINs, fees & returns in: −2% → +6%

“ACoS looked efficient while our hero ASINs lost money. Victoria rebuilt contribution per ASIN with FBA fees, storage, referral fees and returns loaded in. We repriced and repacked the affected lines.”

Head of Marketplace Operations · Ecommerce · Amazon seller
Written approvalUnder NDA6 days to findings
Portrait photograph of Victoria MillerVictoria MillerSenior Auditor · signed this audit off
Read the case →
FINTECHApproved Oct 2025

$61k a year found in 6 days

Support cost vs fee on small accounts: 140% → 85%

“Small accounts used as much planner time as large ones for a fraction of the fee. David modeled cost to serve by tier: below a certain balance the support ran at a loss. Human planning now sits with the tiers whose fee covers it.”

Head of Product · Fintech · Wealth & robo
Written approvalUnder NDA6 days to findings
Portrait photograph of David JacksonDavid JacksonSenior Auditor · signed this audit off
Read the case →
PHARMAApproved Feb 2026

+26% media efficiency in 7 days

Media weight landing in real demand windows: 45% → 88%

“Our flighting calendar was older than our customers' habits. Cristian compared spend timing against when the category actually converts: our heaviest weight landed in weak windows. Same budget, real demand windows, efficiency up 26%.”

Brand Director · Pharma · OTC consumer health
Written approvalUnder NDA7 days to findings
Portrait photograph of Cristian BragauCristian BragauSenior Auditor · signed this audit off
Read the case →
DTC / ECOMMERCEApproved Jan 2026

$59k a year found in 6 days

Contribution margin on the three bestsellers: −2% → +7%

“The more our bestsellers sold, the flatter profit looked. Victoria rebuilt landed cost from the supplier invoice up, and our three top SKUs were priced below cost after freight and packaging. We repriced in stages and volume held.”

Founder & CEO · Ecommerce · Pet
Written approvalUnder NDA6 days to findings
Portrait photograph of Victoria MillerVictoria MillerSenior Auditor · signed this audit off
Read the case →
MARKETPLACEApproved Feb 2025

$58k a year found in 6 days

Effective take rate after the old waivers: 9.5% → 12.5%

“Our effective take rate sat below our stated one for years. Alex traced it cohort by cohort to launch era fee waivers that had never been switched off. We retired them on matured cohorts and kept relief only for new participants.”

Head of Operations · Marketplace · Gig & freelance
Written approvalUnder NDA6 days to findings
Portrait photograph of Alex PopAlex PopSenior Auditor · signed this audit off
Read the case →
RETAILApproved Mar 2026

$58k a year found in 6 days

Margin on big ticket orders, delivery in: −1% → +6%

“Free delivery and assembly were eating our biggest orders. David rebuilt the true cost with two person crews, vehicle time and failed deliveries, and some lines were near break even. Tiered service pricing on the largest items fixed it.”

Head of Ecommerce · Retail · Furniture
Written approvalUnder NDA6 days to findings
Portrait photograph of David JacksonDavid JacksonSenior Auditor · signed this audit off
Read the case →
PHARMAApproved Jul 2025

$58k a year of wasted spend cut in 6 days

Media spend outside eligible patient windows: 24% → 2%

“Reach looked healthy, but a quarter of our media reached people who could not act on it. Leslie compared delivery against the eligible population and its windows: 24% of spend fell outside them. Flighting now follows eligibility.”

Brand Director · Pharma · Vaccines
Written approvalUnder NDA6 days to findings
Portrait photograph of Leslie MartinLeslie MartinSenior Auditor · signed this audit off
Read the case →
SUBSCRIPTIONApproved Jul 2025

$57k a year found in 6 days

Annual discount vs the churn it prevents: 1.8× over → right sized

“We were discounting loyalty we already had. Victoria compared the annual discount against the churn it actually prevented: a large share of members taking it would have stayed anyway. We right sized it and kept the deep offer for real churn risk.”

VP of Growth · Subscription · Fitness
Written approvalUnder NDA6 days to findings
Portrait photograph of Victoria MillerVictoria MillerSenior Auditor · signed this audit off
Read the case →
MANUFACTURINGApproved Oct 2024

$57k a year found in 6 days

Margin on the smallest orders: −3% → +6%

“Our smallest orders cost more to pick, pack and ship than they earned. Cristian rebuilt handling cost per order and set a minimum that covers it. A small order charge and consolidation incentives did the rest.”

CFO · Manufacturing · Industrial fasteners
Written approvalUnder NDA6 days to findings
Portrait photograph of Cristian BragauCristian BragauSenior Auditor · signed this audit off
Read the case →
MANUFACTURINGApproved Jan 2025

$57k a year found in 6 days

Margin on configured upsell orders: −3% → +8%

“Configured orders always carried thinner margins than manual quotes. Cristian priced real configurations down to installed cost: default discounts were selling premium finishes at a loss on every order. A margin floor in the tool ended it.”

VP of Product Strategy · Manufacturing · Modular kitchens
Written approvalUnder NDA6 days to findings
Portrait photograph of Cristian BragauCristian BragauSenior Auditor · signed this audit off
Read the case →
RETAILApproved Apr 2026

$54k a year found in 6 days

Fulfillment margin on click and collect orders: −2% → +5%

“Click and collect was never free. David rebuilt the cost of a collection order, the picking, staging and handover labor hiding in store payroll, and on many order types it matched the delivery it replaced. We repriced those.”

VP of Merchandising · Retail · Home improvement
Written approvalUnder NDA6 days to findings
Portrait photograph of David JacksonDavid JacksonSenior Auditor · signed this audit off
Read the case →
SERVICESApproved Mar 2025

$54k a year found in 7 days

Retainers priced below their delivery cost: 6 of 34 → 0 of 34

“Our blended margin said every account was fine. Leslie broke it apart account by account: six of thirty four retainers were priced below delivery cost, funded by the profitable ones. We repriced or exited them, our own advice.”

Managing Director · Services · Agency
Written approvalUnder NDA7 days to findings
Portrait photograph of Leslie MartinLeslie MartinSenior Auditor · signed this audit off
Read the case →
DTC / ECOMMERCEApproved Jun 2026

$53k a year of wasted spend cut in 7 days

Incremental ROAS: original campaign vs replacement channels: 0.2× → 2.1×

“Our agency’s hero campaign was the biggest loser. Victoria ran a geo holdout and sales barely moved when it was off. Two years of attributed revenue, almost none of it caused by the ad. The budget now goes to channels that pass that test.”

CMO · Ecommerce · Home & living
Written approvalUnder NDA7 days to findings
Portrait photograph of Victoria MillerVictoria MillerSenior Auditor · signed this audit off
Read the case →
B2B SAASApproved Mar 2025

$52k a year found in 6 days

Free account cost vs the plan revenue it earns: 130% → 78%

“Free felt cheap until Alex modeled cost to serve. Support tickets, infrastructure and engineering time made a free account cost more than our entry plan earned. We reset free tier limits and repriced the entry plan.”

VP of Finance · B2B SaaS · Dev tools
Written approvalUnder NDA6 days to findings
Portrait photograph of Alex PopAlex PopSenior Auditor · signed this audit off
Read the case →
SUBSCRIPTIONApproved Sep 2026

$52k a year found in 5 days

Involuntary churn from failed payments: 4.1% → 1.6%

“A slice of our churn was never churn. Victoria split voluntary from involuntary and found expired cards getting one token retry before we wrote the subscriber off. Smarter retries and a card updater cut involuntary churn from 4.1% to 1.6%.”

CFO · Subscription · Digital media
Written approvalUnder NDA5 days to findings
Portrait photograph of Victoria MillerVictoria MillerSenior Auditor · signed this audit off
Read the case →
SERVICESApproved Aug 2025

$52k a year found in 6 days

Margin on the fixed fee engagements: 9% → 17%

“Busy, revenue holding, and profit per partner hour falling. Leslie reconciled logged hours against every fixed fee package: complexity had pushed many below cost. We repriced and rescoped them, with a scope trigger so it stays fixed.”

Partner · Services · Accounting & tax
Written approvalUnder NDA6 days to findings
Portrait photograph of Leslie MartinLeslie MartinSenior Auditor · signed this audit off
Read the case →
RETAILApproved Oct 2025

$49k a year found in 6 days

Stock marked down before demand softened: ~40% → ~8%

“Our markdown calendar was cutting prices on lines still selling at full price. David compared markdown timing against each SKU’s real demand curve. Discounts now trigger on live sell through instead of a date, and clearance still clears.”

Head of Merchandising · Retail · Electronics
Written approvalUnder NDA6 days to findings
Portrait photograph of David JacksonDavid JacksonSenior Auditor · signed this audit off
Read the case →
PHARMAApproved Nov 2025

$49k a year found in 6 days

Margin on the thin vet channel lines: −2% → +5%

“One discount for the whole range looked competitive. Leslie checked it against margin by product line, and on our thinner lines it pushed them below cost. Discount tiers now follow margin band, and the channel kept its competitive pricing.”

Director of Commercial Channels · Pharma · Animal health
Written approvalUnder NDA6 days to findings
Portrait photograph of Leslie MartinLeslie MartinSenior Auditor · signed this audit off
Read the case →
MANUFACTURINGApproved Dec 2024

$48k a year found in 5 days

Catalog margin after the dead SKU tail: 11% → 16%

“A broad catalog felt like an asset. Cristian ranked every SKU by velocity against the cost it carried, and a long tail of dead products was dragging the whole range’s margin. We retired them and set a velocity threshold to stay listed.”

Director of Supply Chain · Manufacturing · LED lighting
Written approvalUnder NDA5 days to findings
Portrait photograph of Cristian BragauCristian BragauSenior Auditor · signed this audit off
Read the case →
DTC / ECOMMERCEApproved Oct 2024

$47k a year found in 5 days

Orders shipped free below break even: 1 in 3 → ~1 in 20

“One order in three shipped free at a loss. Our threshold was set years ago and never revisited, and the cost sat in logistics where nobody looked. Victoria reset it, and average order value went up, not down.”

Head of Ecommerce · DTC · Apparel
Written approvalUnder NDA5 days to findings
Portrait photograph of Victoria MillerVictoria MillerSenior Auditor · signed this audit off
Read the case →
B2B SAASApproved Dec 2024

$47k a year of wasted spend cut in 6 days

Referral fees paid on self sourced deals: ~24% → ~2%

“Partner fees grew faster than partner pipeline. Alex reconciled partner attributed deals against their true origin: many were sourced by our own team with a partner tagged late. Fees now require documented sourcing.”

VP of Global Channels · B2B SaaS · Channel
Written approvalUnder NDA6 days to findings
Portrait photograph of Alex PopAlex PopSenior Auditor · signed this audit off
Read the case →
SUBSCRIPTIONApproved Jun 2025

$47k a year found in 6 days

Would be pauses lost to a full cancel: ~4 in 10 → ~1 in 10

“Pause was buried and cancel was one tap away. Victoria mapped the pause, skip and cancel journeys and about four in ten would be pauses ended as full cancellations. We rebuilt the flow and offer pause first inside the cancel journey now.”

Head of Retention · Subscription · Meal kit
Written approvalUnder NDA6 days to findings
Portrait photograph of Victoria MillerVictoria MillerSenior Auditor · signed this audit off
Read the case →
SERVICESApproved Sep 2025

$47k a year found in 6 days

Delivery hours actually billed to clients: ~80% → 98%

“Every project ran thinner than its day rate. Leslie reconciled real effort against billing and found travel, kickoff and early onboarding absorbed as goodwill. Those hours are written into every scope now.”

VP of Client Success · Services · Implementation
Written approvalUnder NDA6 days to findings
Portrait photograph of Leslie MartinLeslie MartinSenior Auditor · signed this audit off
Read the case →
DTC / ECOMMERCEApproved Aug 2026

$44k a year of wasted spend cut in 5 days

Commissions paid on sales you already owned: ~29% → ~2%

“Affiliate revenue kept climbing and margin didn’t. Victoria tested incrementality and coupon partners were collecting commission on customers who arrived through branded search and direct. We now pay for demand partners actually create.”

VP of Ecommerce · DTC · Footwear
Written approvalUnder NDA5 days to findings
Portrait photograph of Victoria MillerVictoria MillerSenior Auditor · signed this audit off
Read the case →
MARKETPLACEApproved May 2026

$44k a year found in 7 days

Take rate actually kept vs the 15% contracted: 11.1% → 14.0%

“Finance couldn’t explain why we kept less than our contracted take rate. Alex traced every dollar from gross booking to net revenue and found it in refunds nobody owned. Clear rules and one accountable owner closed the gap.”

Chief Commercial Officer · Marketplace · Rentals
Written approvalUnder NDA7 days to findings
Portrait photograph of Alex PopAlex PopSenior Auditor · signed this audit off
Read the case →
SERVICESApproved Sep 2025

$44k a year found in 5 days

Job margin once callbacks are counted: −1% → +5%

“Jobs kept landing below what we quoted. Leslie loaded callbacks and warranty visits back onto the jobs that caused them, and the quoting model had never counted them. Quotes now price the whole job, not the first visit.”

Owner · Services · Field services
Written approvalUnder NDA5 days to findings
Portrait photograph of Leslie MartinLeslie MartinSenior Auditor · signed this audit off
Read the case →
B2B SAASApproved Jun 2025

$41k annual budget redeployment identified in 5 days

Share of all paid spend that was incremental: 28% → 82%

“Our safest lines were the least incremental. Alex showed brand term search and retargeting were intercepting demand from sales calls and word of mouth, then invoicing for it. We cut both to a defensive minimum.”

Head of Marketing · B2B SaaS · Series A
Written approvalUnder NDA5 days to findings
Portrait photograph of Alex PopAlex PopSenior Auditor · signed this audit off
Read the case →
SUBSCRIPTIONApproved Apr 2026

$41k a year found in 6 days

Shipping margin on the monthly cohort: −4% → +8%

“A flat shipping tier felt fair. Victoria mapped shipping cost against cohort value and our most loyal subscribers were subsidizing the least loyal ones. Tiers now follow order frequency, so loyalty stops paying for churn.”

Head of Subscriber LTV · Subscription · Box
Written approvalUnder NDA6 days to findings
Portrait photograph of Victoria MillerVictoria MillerSenior Auditor · signed this audit off
Read the case →
RETAILApproved Mar 2025

$41k a year found in 5 days

Promo discount covered by vendor funding: 78% → 96%

“The vendor pays for it, we assumed. David reconciled every cofunded promotion against the support we actually received, and the discounts routinely ran deeper than the funding. Renegotiated terms and promo guardrails closed it.”

Director of Trade Marketing · Retail · Beauty
Written approvalUnder NDA5 days to findings
Portrait photograph of David JacksonDavid JacksonSenior Auditor · signed this audit off
Read the case →
MANUFACTURINGApproved Jul 2025

$41k a year of wasted spend cut in 6 days

Trade show spend tied to a booked order: 6% → 90%

“Six figures a year on trade shows because we always had. Cristian traced the spend to booked orders and found no link at all; in our specifier led category the events reached the wrong buyers. The budget now follows traceable pipeline.”

VP of Marketing & Sales · Manufacturing · Underfloor heating
Written approvalUnder NDA6 days to findings
Portrait photograph of Cristian BragauCristian BragauSenior Auditor · signed this audit off
Read the case →
SERVICESApproved Nov 2025

$39k a year of wasted spend cut in 5 days

Search cost per click across the clinics: $2.40 → $1.78

“Our cost per click climbed with no new competitor in sight. Leslie found the competitor was us: clinics bidding against each other on the same keywords in the same auctions. One geo partitioned account structure ended it.”

Operations Director · Services · Dental group
Written approvalUnder NDA5 days to findings
Portrait photograph of Leslie MartinLeslie MartinSenior Auditor · signed this audit off
Read the case →
B2B SAASApproved Dec 2024

$36k a year of wasted spend cut in 7 days

Content spend with a traceable path to revenue: 9% → 92%

“Eighteen months of content, not one sourced opportunity. Cristian traced the program forward through the funnel and could not connect it to pipeline. We kept the assets sales actually used and moved the rest of the budget to demand capture.”

CRO · B2B SaaS · Mid market
Written approvalUnder NDA7 days to findings
Portrait photograph of Cristian BragauCristian BragauSenior Auditor · signed this audit off
Read the case →

The full report

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Benchmark population, statistics and limitations

The population is the 74 published case studies, with one selected highlight figure per case. It is not a representative sample of all SMBs or a total of every finding in each audit. A lower median is the middle value after sorting, using the lower of the two middle values for an even count. Published annual figures include different outcome types; they are not all collected cash, profit or recurring savings. Case publication dates do not establish common observation, implementation or recovery periods; use each case for its supported timing and outcome.

The published 18.7% leak share and 11–28% spend band use a spend basis; the 1–3% revenue band uses a different denominator. The $62/$22/$9/$7 allocation is a separate published $100 breakdown, not the complement of the 18.7% figure. Underlying spend totals, weighting, category overlap and common measurement periods are not published here, so these figures cannot be independently reconstructed from the 74 case highlights. Published prevalence percentages likewise lack audit-level flags and eligible counts; do not infer counts, add overlapping percentages or treat them as market-wide rates.

The 2026 edition is a publication label, not a shared measurement window. Selection criteria and underlying audit dates are not supplied by the case-value dataset.

Scroll horizontally to compare all columns on a narrow screen.

Model references and published-case lower medians
IndustryPublished casesModel reference / yearCase lower median / year
DTC / Ecommerce10$54k$53,000
B2B SaaS8$60k$52,000
Marketplace7$66k$66,000
Subscription7$51k$51,000
Retail8$56k$54,000
Services8$47k$47,000
Fintech7$83k$83,000
Pharma9$64k$64,000
Manufacturing10$67k$64,000

The CSV is a summary, not raw audit records. Its legacy recovered metric names mean published annual highlight figures, not proof of realization. Download the data dictionary.