# FAQ (/faq)

## Are Blended ROAS and MER the same thing? [#are-blended-roas-and-mer-the-same-thing]



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.