You can set minimum and maximum CPM rates for both Classic Canvas and Journey Canvas campaigns. Like many settings, you can configure these fields at the canvas level, which means the same rates would apply to all creatives, tactics, steps, and paths. If you'd rather not blanket the entire canvas with the same rates, set custom rates at the campaign (Classic Canvas) or path (Journey Canvas) levels.
Opening the CPM form
If you're building a new campaign or path on Classic Canvas or Journey Canvas, the workflow naturally guides you to the CPM form. Optionally, you can open an existing campaign or path and edit the form fields.
- Open the Journeys page and click a campaign name. The canvas displays.
- Go to the top right corner of the page and click the gear icon (next to the money bag icon). The General Settings & Billing page displays.
- Scroll down to the Journey CPM heading.
- Update the CPM rates.
- Click Save.
Filling in the fields
So the question is, what's the best CPM range for a campaign? The answer depends on your aims and priorities. I know that's a wishy-washy response, so let me describe some options that provide direction rather than certainty. Note that the fields mentioned below are only visible if you're running dCPM and you're not taking a margin.
Setting the minimum rate
Here are some suggestions that can help you formulate your thinking. These figures are discussion starting points and are not intended to represent best practices for all clients in all situations.
- Cost-focused: If you're cost-conscious and want to run a campaign on a tight budget, you could set the minimum to $0.01.
- Inventory-focused: If you aim for a spectrum of high-quality inventory, enter a robust number, like $1.00.
- Middle ground: A recommended starting rate is $0.50. This figure shuts the door on low-quality placements but opens another door to affordable prospecting opportunities.
Setting the maximum rate
Here's a rule of thumb. Think about the different channels you want to access with the campaign and ask yourself, "What's the highest CPM you expect to pay among those channels?"
That's the number you should enter in the Max field. If you're buying CTV inventory, for instance, that CPM could easily be in the $20-50 range. Remember, you can override these settings at the campaign and path levels when you build the campaign. That means, for instance, you could set a native display CPM to $8 and enter a $25 CPM for CTV. FYI, you can also override these values through bid optimization.