If you add up what Meta, Google and TikTok each claim, most brands appear to make three times their actual revenue. Here is how we get back to reality.
Blended first, platform second
We start from the bank account: total revenue over total spend. Platform numbers are only used to allocate within a channel, never to judge whether the channel is working.
The three checks we run monthly
- Geo holdout tests on the two largest channels.
- New-customer CAC tracked separately from blended CAC.
- Cohort LTV at 30, 90 and 365 days against acquisition month.
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