# CPM
> The auction price of a thousand impressions.
- Canonical: https://xeli.ad/knowledge/cpm
- Type: entity
- Entities: CPM, Creative Fatigue, ROAS, CTR, CPA
- Topic coverage: 35% · AI citation readiness: 60%
## Definition
CPM is cost per thousand impressions, set by auction competition and by how favourably the platform scores your ad's expected engagement.

## Why it matters
Rising CPM at flat spend is usually a creative-quality or fatigue signal rather than a market signal.

## Keyword cluster
- cpm benchmarks
- why is my cpm rising
- cpm cpc ctr calculator
## Related
- [Ad Frequency](https://xeli.ad/glossary/ad-frequency): The average number of times a single user sees your ad within a given time period.
- [Meta Ads Creative Strategy](https://xeli.ad/guides/meta-ads-creative-strategy): A modern, opinionated playbook for building Meta ad creative that scales — hooks, formats, iteration cadence, and the metrics that actually matter.
- [CPC (Cost Per Click)](https://xeli.ad/glossary/cpc): The amount you pay each time someone clicks your ad.
- [Creative Fatigue](https://xeli.ad/glossary/creative-fatigue): When an ad's performance drops because the audience has seen it too many times.
- [Creative Testing Framework](https://xeli.ad/guides/creative-testing-framework): A statistically-sound, budget-realistic framework for testing paid social creative — how many variants, how much spend, how long, and how to read the results.
- [CTR](https://xeli.ad/knowledge/ctr): Clicks per impression — the fastest read on whether creative lands.
- [Instagram Explore](https://xeli.ad/specs/instagram-explore-size): Instagram Explore ad size: 1080x1080px, 1:1, JPG, PNG, MP4, MOV. Reaching new audiences via the Explore surface.
- [Ecommerce Scaling Playbook](https://xeli.ad/guides/ecommerce-scaling-playbook): How the metrics, campaign structure, and creative pipeline change at each stage of scaling a DTC brand from $10k to $1M/mo in paid media.
## Entity graph
- [CPM](https://xeli.ad/knowledge/cpm): The auction price of a thousand impressions.
- [Creative Fatigue](https://xeli.ad/knowledge/creative-fatigue): The predictable decay of an ad's performance as frequency climbs.
- [ROAS](https://xeli.ad/knowledge/roas): Revenue divided by ad spend — the headline efficiency number.
- [CTR](https://xeli.ad/knowledge/ctr): Clicks per impression — the fastest read on whether creative lands.
- [CPA](https://xeli.ad/knowledge/cpa): What one conversion costs you, all-in.
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Source: Xeli AI — the Agentic Creative OS for ecommerce. https://xeli.ad