CPM vs CPV — which metric should I use to evaluate influencer ROI?
My client keeps asking me to report CPM but I feel like CPV is more meaningful for YouTube sponsorships. Am I right or am I missing something?
Ryan O.Answers
Accepted answer
You're right that CPV is more informative for YouTube, but they measure different things: **CPM** = cost per thousand impressions — useful for brand awareness comparisons across channels (display, social, video). Your client's media team probably defaults to CPM because it's what they track everywhere else. **CPV** = cost per view — more meaningful for YouTube because 'impressions' on a long-form video with a dedicated integration aren't equivalent to a banner ad impression. A viewer who watches a 12-min video that includes a 60-sec mid-roll integration has a much higher intent signal. I'd report both: CPM to satisfy the media comparison reflex, CPV to show the actual efficiency of the YouTube buy.
Natasha W.Answer
For direct-response campaigns (promo codes, affiliate links), neither CPM nor CPV is the right top-line metric — you want cost per conversion or at minimum cost per click. CPV is still a useful sanity check but a creator with a 'bad' CPV and great conversion rate is always the right choice.
Marcus Chen