FAQ

Are Blended ROAS and MER the same thing?Copy Anchor Link

Yes when you have no costs in the Agency Fees category. Otherwise, MER includes those costs as well as ad spend, so it is lower than Blended ROAS.

Net Revenue  = DTC + B2B line items after discounts + shipping − refunds
Blended ROAS = Net Revenue / total ad spend          (all ad channels; Meta Ads today)
MER          = Net Revenue / total marketing spend   (ad spend + non-media marketing costs)

• Today, non-media marketing costs are costs in Settings → Costs in the Agency Fees category. They are normalized for the selected window before Keel HQ includes them in MER.
• People use these names differently online, and some use gross rather than net revenue. Keel HQ uses the same net revenue for both, so they are directly comparable.
• Unknown ad spend makes both metrics —. With known $0 ad spend, Blended ROAS is — and MER uses the marketing costs alone.
• Set Target ROAS in Settings → Goals. Set the MER target in Settings → Goals → Ad Targets, or in Ads Settings.
• Meta ROAS is a third metric: Meta's attributed purchase value divided by Meta spend. The Overview does not show it yet; the Ads account snapshot shows 7- and 14-day figures.