09/10/2026
$16 CPM. 1.29 ROAS.
$35 CPM. 1.56 ROAS.
Pick one.
I took over an account this summer.
Scaled daily spend 2.3x.
CPMs more than doubled.
Here’s what happened.
CPM: $16.49 → $35.47
ROAS: 1.29 → 1.56
Conversion rate: 2.73% → 4.98%
AOV: $53.86 → $65.92
Cost per purchase: $41.64 → $42.58
Ads cost 2x as much to show.
Cost per purchase moved 2%.
And this wasn’t a small budget.
Ad spend: $109K → $176K
Daily spend: $1.6K → $3.7K
Revenue: $164K → $289K
20 fewer days. 76% more revenue.
Everyone knows the rule. Scale spend, lose efficiency.
I scaled daily spend 2.3x and ROAS still went up 21%.
Here’s the biggest lie in paid social:
Cheap CPMs mean you’re winning.
They don’t.
Cheap impressions are cheap for a reason.
The people who actually buy are the people every other advertiser is fighting over.
They cost more.
If your CPM just dropped, wait before celebrating.
Ask who you’re reaching now.
So why is everyone obsessed with it?
Because it’s the easiest number to understand and the easiest number to blame.
“Meta got expensive” is the perfect excuse.
It’s never you. It’s the algorithm. It’s Q4. It’s iOS.
Let me give you the real reason your CPA is climbing.
It’s not your CPM.
It’s not Meta.
It’s what happens after the click.
On this account, click to purchase went from 3.86% to 8.11%.
Every click got twice as valuable. So I could afford to pay twice as much for it.
A $16 CPM that doesn’t convert costs more than a $35 CPM that does.
Stop focusing on what it costs to be seen.
Start focusing on what a click is worth.
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I’m Bobby. I write the creative strategy and run as an operator. So nothing gets lost between the ad and the account. I don’t care about cheap CPMs. I care about what hits the bank account.