Steam Paid Acquisition · Case Study

2.47× ROAS on Steam.
Three markets. One campaign.

Adzap ran ads in the US, DE, and FR during a Spring 2026 Steam sale. Using geo holdout methodology, we confirmed profitable, incremental revenue lift across all three markets simultaneously.

2.47×
Gross ROAS
Blended across US, DE, FR
1.73×
Developer ROAS
After Steam's 30% revenue share
3 / 3
Markets profitable
All test geos cleared breakeven
Voyagers of Nera key art
00

The game & campaign objective

PC · Steam Early AccessColony SurvivalRPGExplorationFantasy

Voyagers of Nera is a cooperative survival-crafting game where players survive a magical ocean world, sail to distant islands, build villages, and explore with up to 10 players. Developed by Treehouse Games, it launched into Steam Early Access with a strong wishlist base and positive reviews.

The question: can paid mobile acquisition reach high-intent Steam players and convert them during a sale? This was Treehouse Games' second campaign with Adzap.

1
Lift sales in strategic geos
Target US, DE, and FR — Voyagers of Nera's highest-value markets — with timed Meta ads during the Spring 2026 Steam sale window.
2
Prove incrementality
Use untouched control markets (AU, GB, CA, NL, ES) to establish a clean organic decay baseline. Outperformance = directly attributable lift.
3
Validate the multi-market playbook
Campaign 1 proved the concept in one market. Campaign 2 was designed to replicate positive ROAS simultaneously across three geos.
01

Results: indexed sales

Each country indexed to its own Week 1 daily average (= 1.0). Ads ran in US, DE, FR only during Week 2. The divergence from control markets is the visual proof of Adzap's impact.

0.40×
Control markets W2/W1
The organic decay baseline
0.72×
Avg test markets W2/W1
vs. 0.40× in control — +32pt gap
+80%
More revenue vs. no-ad scenario
Test markets vs. organic decay
Control avg
United States
Germany
France
0.00×0.40×0.72×1.00×1.40×Week 1Week 2 · Ads liveW1 MonW1 ThuW1 SunW2 MonW2 ThuW2 Sun
💡

When ads turned on in Week 2, the three test markets (US, DE, FR) held their sales levels dramatically better than control markets, which decayed to 0.40× of their Week 1 average. France actually grew in Week 2 — ending at 1.09× — the opposite of the organic decay seen everywhere else.

02

ROAS by market

🇺🇸
United States
0.00×
GROSS ROAS
0.00×
DEVELOPER NET ROAS
0.55× vs 0.40×
W2/W1 vs control
+15 pts
above organic
🇩🇪
Germany
0.00×
GROSS ROAS
0.00×
DEVELOPER NET ROAS
0.52× vs 0.40×
W2/W1 vs control
+12 pts
above organic
🇫🇷
France
0.00×
GROSS ROAS
0.00×
DEVELOPER NET ROAS
1.09× vs 0.40×
W2/W1 vs control
+69 pts
above organic
Gross ROAS
Developer ROAS (after Steam 30%)
1.0× breakeven
🇺🇸United States
2.76×
Gross 2.76×Dev net 1.93×
🇩🇪Germany
1.59×
Gross 1.59×Dev net 1.11×
🇫🇷France
2.66×
Gross 2.66×Dev net 1.86×★ Best market
🎯

All three markets were profitable for the developer — not just at the store level. A developer ROAS above 1.0× means the publisher kept more money than they spent, after Steam's 30% cut. US at 1.93× and FR at 1.86× are standout results. Even DE at 1.11×, the softest market, returned a positive developer margin.

03

Week 2 sales retention by market

Average daily sales in Week 2 (Apr 6–12) as a % of Week 1. Steam sales are frontloaded — every market drops. The question is by how much. Every test market held above the control average.

🇺🇸 US0.55×
🇩🇪 DE0.52×
🇫🇷 FR1.09×
Control avg0.40×
Test markets (ads ran)
Control avg (organic)
Control baseline
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