Muze AI
Talk to SalesStart free trial
PlatformMuze MCPLiteResultsPricingTalk to SalesStart free trial

Glossary · Metrics

What is CPM?

Also known as Cost per mille.

Definition

CPM (cost per mille) is the cost of one thousand impressions, calculated as ad spend divided by impressions, multiplied by 1,000. It is the underlying price of reaching an audience, and it is the metric most directly set by auction competition rather than by anything in your control.

How it is calculated

CPM = (Ad spend ÷ Impressions) × 1,000

What to know

CPM rises predictably in competitive retail periods and when you narrow an audience. It also rises as you push frequency into a small audience, because the platform has to buy scarcer inventory.

CPM and CTR together produce CPC: cheap impressions with poor click-through can cost more per click than expensive impressions that people actually click.

Related terms

CPCCPC (cost per click) is ad spend divided by clicks. It measures what you pay for attention, not for results. C...CTRCTR (click-through rate) is clicks divided by impressions, expressed as a percentage. An ad shown 10,000 times...FrequencyFrequency is the average number of times each person saw your ad, calculated as impressions divided by reach. ...

Track this across every platform at once

Muze reads CPM and everything around it straight from your Meta, Google, Amazon and Shopify accounts, inside ChatGPT or Claude. Free to start.

See how Muze works