White Rabbit Lisbon
How White Rabbit Lisbon Achieved 41.09x Peak Weekly ROAS
Google Ads
Paid Social
ORGANIC SOCIAL
VIDEO CONTENT CREATION
In this case study
About the Brand
The Challenge
The Strategy
The Execution
Results Dashboard
Creative Showcase
About the Brand
An independent hospitality group with three distinct ideas.
White Rabbit Projects runs three venues in Lisbon, each built around its own concept. Two Portuguese restaurants with shared operating roots but different personalities. One cocktail bar sitting in a category all its own. Each venue serves a different audience, but the operating brain underneath is unified.
01 Santa Joana
PORTUGUESE RESTAURANT
Sit-down dining. Daytime and evening service. Strong Google search demand and brand recall.
02 Santa Marta
PORTUGUESE RESTAURANT
Sister venue, distinct positioning. Higher walk-in proportion driven by local awareness saturation.
03 Kissaten Lisbon
COCKTAIL BAR
Evening-led cocktail bar. Walk-in dominant. A different unit economics shape entirely.
The Challenge
Three concepts. Five booking sources. One honest attribution model.
Restaurant performance marketing breaks down when every reservation gets claimed as paid-driven. Most attribution systems inflate by default. We needed the opposite: a model that claims only what it can defend, and reports back to operators in language they trust.
01 Three concepts, three demand curves
Sit-down dining behaves differently from a late-opening bar. Lunch and dinner audiences are different. Walk-in mix varies dramatically across venues. One blunt strategy across all three would have left value on the table at each.
02 Five reservation sources, none of them clean by default
Google Reserve, Booking Widget, Instagram, Walk-in and Internal-Shift each have different attribution characteristics. Some are paid-influenced, some are not, some are partially attributable. SevenRooms reports the raw count but cannot tell us which to credit.
03 Honest attribution as a relationship asset
Operators trust agencies that report less than they could plausibly claim. The discipline of under-claiming compounds across the relationship lifetime in ways that over-claiming never does.
The Strategy
Source-Calibrated Attribution: claim what you can defend.
We built a reservation attribution model that calibrates per-source. Each booking channel gets a defensible claim rate. The result is a portfolio ROAS we can stand behind in any conversation, with any auditor, in any venue.
CHANNEL-LEVEL CLAIM RATES
Source-Calibrated Attribution
Instagram bookings claimed at 100%. Google Reserve at 97%. Booking Widget at 85-89%. Walk-in calibrated per venue based on awareness saturation in the immediate area.
VENUE-LEVEL CALIBRATION
Walk-in claim varies by venue
Santa Joana claims 0% of walk-ins (lower brand-build campaign weight). Santa Marta claims ~17% (saturated local awareness). Calibration recalibrated quarterly based on awareness reach trajectory.
PORTFOLIO REPORTING
One ROAS, fully defensible
The portfolio ROAS we report includes only claimed reservations and the modelled revenue value tied to them. Every multiplier in our weekly reports is a number we can defend line by line.
The Execution
Meta running per venue, calibrated per concept.
Two campaign archetypes per venue: Awareness for top-of-funnel reach, Bookings for direct reservation drive. Awareness creative leans on venue atmosphere and food. Bookings creative leans on lunch or dinner specifics, calls-to-action, and seasonal moments.
SANTA JOANA
41.09x ROAS
672K Reach (single campaign)
85–100% Claim rate range
SANTA MARTA
28.43x ROAS
186K Reach (single campaign)
89–100% Claim rate range
Website and Reserve drive the claimed mix.
We report only what we can defend. Walk-ins are calibrated down to near-zero, so the claimed mix surfaces the channels paid media actually moves: the booking widget and Google Reserve.
Website booking widget and Google Reserve are the channels our paid media converts. Walk-in is reported conservatively, never inflated.
Organic social, compounding paid performance.
Across all three venues, a disciplined organic presence does the quiet work that paid cannot buy outright: credibility, community, and social proof. It is the layer prospective guests check before they book.
LEAD EXAMPLE · SANTA JOANA
13K → 31K INSTAGRAM FOLLOWERS · 8 MONTHS
+138% audience growth
A near-tripling of reach and brand visibility in under a year, building the credible foundation paid media converts against.
HOW ORGANIC MULTIPLIES PAID
01 Reinforces the message
Organic content echoes the brand awareness paid campaigns generate, keeping the message consistent wherever a guest lands.
02 The pre-booking check
Prospects exposed to an ad routinely visit the profile before deciding. A strong feed becomes a direct conversion factor, not a vanity metric.
03 A compounding effect
Paid reach plus organic engagement builds trust and social proof, lifting the return on every media pound and driving venue growth together.
Most attribution inflates. This one deflates. That’s the differentiator.
100% INSTAGRAM CLAIM RATE
Direct social-to-booking attribution
~97% GOOGLE RESERVE CLAIM RATE
Paid-influenced search to book
85–89% BOOKING WIDGET CLAIM RATE
Website-driven, paid-influenced
0–17% WALK-IN CLAIM RATE
Venue-calibrated, awareness-modelled
Results Dashboard
Two venues at 28–41x ROAS. One organic-led bar. All three growing.
41.09x PEAK WEEKLY ROAS
Santa Joana, w/e 24 May 2026
28.43x CONFIRMED ROAS
Santa Marta, same week
−50%+ CPR REDUCTION
Santa Joana, 6-month trajectory
672K CAMPAIGN REACH
Single Santa Joana awareness flight
Restaurant Meta ROAS benchmark sits between 3x and 5x for healthy campaigns. Both venues are operating between 6x and 10x that benchmark, with attribution under-claimed by design.
Three concepts, one operating brain.
The three venues aren’t variations on a theme. They’re three distinct unit-economics structures. Santa Joana is paid-led. Santa Marta is paid-supported with strong walk-in. Kissaten is walk-in led, with paid filling the gaps.
Running them as one portfolio means we can shift narrative emphasis as each venue’s needs change. Awareness saturation in Santa Marta last quarter let us redirect budget to Santa Joana’s bookings campaign. Kissaten’s strong walk-in base let us experiment with low-spend brand-voice creative rather than direct-response.
Three things this work reinforced for our wider practice.
01 Under-claiming compounds trust faster than over-claiming captures budget.
Source-Calibrated Attribution claims less than every alternative methodology we benchmarked against. The compounded effect on operator trust over the engagement lifetime is bigger than any short-term ROAS-inflation gain.
02 Multi-concept portfolios reward source-by-source calibration.
Treating Walk-in claim rate as a single variable across three venues would have given us comfortable but indefensible numbers. Calibrating per-venue based on local awareness reach lets us defend every percentage.
03 The right benchmark is the venue’s own trajectory, not the category average.
Santa Joana’s 6-month CPR reduction of over 50% is more meaningful than its peak ROAS multiplier. We optimise toward the venue’s own improvement curve. Category benchmarks are the comparison, not the target.
Creative Showcase
Three brand voices, kept distinct.
A snapshot of recent hero creative across the portfolio. Each venue gets its own visual language, music, and editing rhythm while sitting in the same operational architecture underneath.
Awareness Hero
Sit-down service, atmospheric · 672K reach
Bookings Cut
Direct CTA · 41x weekly ROAS
Awareness
Lunch dining, local feel · 186K reach
Cocktail Concept
Cocktail bar aesthetic · walk-in driver
Creative team to replace placeholders with selected stills from active campaigns.
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