An 11x return on ad spend ( ROAS ) sounds like a win. It can represent an outstanding ecommerce business. It can also represent a business quietly destroying cash. The difference is context. It’s probably the most overused phrase in marketing, other than “it depends.” It’s also the one people ignore most often. When 11x ROAS isn’t what it seems We took over an ecommerce account that was reporting an 11x blended ROAS. The previous agency had it on a slide. The founder had quoted it to investors. Somewhere in the building, a finance director was staring at a cash flow forecast and quietly losing his mind because he was the only person in the…
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