What is CPM (Cost per Mille)?

Also known as: Cost per thousand impressions, Cost per thousand

Definition

CPM is the cost to show an ad 1,000 times — a key metric for judging the efficiency of paid social media campaigns, independent of conversions.

In-depth explanation

CPM helps agencies compare how efficient different ads or platforms are at pure visibility. A low CPM (€2-5) means cheap reach; a high CPM (€15-30) means more expensive but potentially more targeted audiences.

CPM varies widely by platform and industry: Instagram feeds average €5-10 in the Netherlands, LinkedIn €15-30 (B2B is pricier), TikTok €3-7. A high CPM isn't necessarily bad if the audience is very specific and conversion is high. CPM should always be read in context with CPC (cost per click) and ROAS (return on ad spend).

Example from agency practice

An Instagram campaign for client Y has a €1,500 budget and reaches 250,000 impressions = a CPM of €6. The agency compares this with a LinkedIn campaign on the same budget that reaches 75,000 impressions = a CPM of €20. LinkedIn is more expensive, but the audience is B2B and higher-value.

Especially relevant for

  • Ads specialists
  • Strategists
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