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Table Table 3 Growth that compounds

How is GTM efficiency different from MER or ROAS?

MetricTypical numeratorTypical denominatorCausal boundary
MERTotal revenueTotal marketing spendDescriptive blended signal
ROASAttributed revenueAd spendDepends on attribution and does not prove incrementality
GTM efficiencyDeclared output such as contributionDeclared GTM resourcesDepends on declared boundary; not causal alone
CAC paybackGross profit or contribution over timeAcquisition costRequires cohort, cost, margin, and maturity rules

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Reference & Evidence

Source: Table from this essay. Sources and interpretation are given in the article.