When sales and ad spend both rise, it's easy to assume causation. But is the growth real, or just correlation? This simulation reveals the expensive truth of confusing the two.

Apparent Return on Ad Spend

This view suggests a 17x return, justifying aggressive spending. However, it fails to account for customers who would have converted anyway.

$1,700,000
Observed Revenue
$100,000
Ad Spend
17x
Apparent ROAS