Meta Ads: The Revenue Looks Great. But Is It Real?

I’ve seen it too many times.

Media buyers proudly reporting a 5x ROAS. Even 20x.

Everyone celebrates. Until someone asks the question no one wants to hear:

“How many of those conversions would have happened anyway?”

Silence.

Because here’s the uncomfortable truth:

Meta is very good at taking credit.

You run a campaign, and suddenly it’s claiming every sale. Even the ones that would’ve come through organic, brand search, email, or word of mouth.

Attribution theatre at its finest.

And if you’re not defining your audience segments - New, Engaged, Existing.

You won’t know who you’re really reaching.

You’ll just see inflated numbers and assume the ads are working.

Yes, the ROAS will look fantastic.

But the business? Stuck in place.

👉 Real growth means net new customers.

👉 It means clear exclusions.

👉 It means measuring more than just revenue, it means measuring impact.

So go into your ad account.

Define your audience segments properly.

And turn off the vanity metrics.