vCPM vs. CPC: Caution in Revenue Evaluation

vCPM vs. CPC: Caution in Revenue Evaluation

Did you know that view-attributed revenue in vCPM (cost per 1.000 viewable impressions) campaigns can often paint a misleading picture of performance?

In the example below, in one of our customer accounts one single Sponsored Display campaign drove ~20% of total ad sales in H1 2024.

Impressive, right? But here’s the catch:

Only 14% of that revenue came from clicks.

The remaining revenue was view-attributed, meaning it’s not clear if users actively engaged with the ad or if they were even influenced by it.

Why is this problematic?

  • vCPM campaigns (view attribution) count sales even if users don’t interact with the ad.
  • In contrast, CPC campaigns (click attribution) only track revenue driven by active engagement.
  • This leads to inflated ROAS figures for vCPM campaigns, while undervaluing the impact of direct response campaigns.

    Takeaway:

    Be cautious when evaluating vCPM performance. Consider click attribution, A/B testing with control groups, and complementary KPIs to ensure impact of your ad strategy

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