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Sounds like the buys were heavy RET/REM and not ACQ. Expecially PMAX—-> that placement is very heavy REM, you need to run as ACQ and make it earn its keep earning new customers not heavy REM.
Looks like they were returning customers regardless and your ads were pushing that along.
This is why I run heavy search on terms for ACQ audiences—-keep that ACQ funnel coming in. I’m able to prove this on last click—-> back tracking to first click attribution.
