CPM (Cost Per Mille)
CPM is the cost of one thousand ad impressions and is the primary pricing unit for auction-based social and display media.
CPM (Cost Per Mille, also Cost Per Thousand Impressions) is the price advertisers pay for one thousand ad impressions. It is the auction-clearing price for inventory, calculated whether or not the impression results in a click or conversion.
Why CPM matters in financial services paid media
CPM is the most useful efficiency benchmark for awareness and reach campaigns. It also explains why some UK financial niches are structurally expensive: HNW LinkedIn audiences carry CPMs of GBP 60-180, while mass-market Meta inventory in the UK is typically GBP 4-12. The CPM gap explains most of the CPL gap, before any creative or landing-page optimisation.
CPM, CPC and CPL relationships
A simple identity links the three:
- CPL = CPM / (CTR per 1,000) / CVR
- CPC = CPM / (CTR per 1,000)
So if your CPMs rise 30% on Meta during a Q4 auction surge, CPL rises 30% too unless CTR or CVR improves to compensate.
Typical UK financial CPM ranges in 2026
- Meta UK financial advice: GBP 4-12
- Google Display: GBP 5-14
- Microsoft Audience Network: GBP 4-9
- LinkedIn UK B2B (HNW or finance professional targeting): GBP 60-180
- YouTube TrueView in-stream: GBP 8-20
Related terms
- CPL (Cost Per Lead)
- CPC (Cost Per Click)
- oCPM
- Reach