CPM (Cost Per Mille)
Cost per 1,000 impressions: (total cost ÷ impressions) × 1,000. The cleanest way to compare a $700 Reel to a $12 paid-social ad — on reach only.
Worked example: $400 content fee, 25,000 Reel impressions → CPM = $16. Current consumer-niche influencer CPMs in 2026 rate guides often land around $8–$20 on Instagram, $5–$15 on TikTok, $15–$35 on YouTube. Finance, health, and B2B sit higher. Paid social CPMs are usually cheaper; you are paying for a person, not an interruption.
CPM says nothing about clicks or sales. Pair it with CPE or a unique code. Do not optimize a conversion campaign to the lowest CPM — you will hire shouting, not selling.
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