Return on ad spend (ROAS) and return on investment (ROI) are cousins, not twins. Confusing them leads to confident, expensive mistakes.
ROAS is a campaign lens
ROAS tells you revenue per rupee of ad spend. It is useful for optimising channels but ignores margins, fulfilment, and overhead.
ROI is the business lens
ROI accounts for total cost and profit. A campaign can show great ROAS and still lose money once costs are included.
Optimise channels on ROAS, but make budget decisions on ROI.
