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Notes from inside D2C brands

Field notes on performance marketing — what we see inside real D2C businesses, and what actually moves the number.

13 August 2026 · 5 min read

Why a 4x ROAS can still lose you money

Almost every marketer can quote their ROAS from memory. Far fewer can quote their MER, their new-customer contribution margin, or their CAC payback period — and those are the three numbers that decide whether ad spend is building a business.

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Field notes on performance marketing — what we see inside real D2C businesses, and what actually moves the number.

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