Understand how your CPM compares. Dive into benchmark data by industry, region, and campaign type
October 2024 - October 2025
Detailed observation of presented data
Understanding cost-per-thousand-impressions benchmarks on Facebook Ads in industry Venture Capital & Investment and Spain helps advertisers make more efficient budget and creative choices.
Insights & analysis of Facebook advertising costs
Cost Per Mille (CPM) is the cost advertisers pay for 1,000 impressions of their Facebook ad. In the Venture Capital & Investment industry, Facebook ad costs can be influenced by seasonal trends and market competition. For campaigns targeting Spain, advertisers should consider local market factors and user behavior. Different campaign objectives lead to varying costs based on how Facebook optimizes for your specific goals. The data shown represents median values across multiple campaigns, and individual results may vary based on ad quality, audience targeting, and campaign optimization.
We use the median CTR because the underlying distribution of click-through rates is highly skewed, with a small share of campaigns achieving extremely high CTRs. These outliers can inflate a simple average, making it less representative of what most advertisers actually experience. By using the median—which sits at the midpoint of all campaigns—we provide a more rigorous and realistic benchmark that reflects the true underlying data model and helps you set attainable performance expectations.
Note: This data represents industry median values and benchmarks. Your actual costs may vary based on specific targeting, ad creative quality, and campaign optimization.
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All data is sourced from over $3B in Facebook ad spend, collected across thousands of ad accounts that use Superads daily to analyze and improve their campaigns. Every data point is fully anonymized and aggregated—no individual advertiser is ever exposed.
This dataset updates frequently as new ad data flows in. It will only get bigger and better.
Late November–early December (Black Friday/Cyber Monday), Mid-August (summer promotions), December (Christmas & post-Christmas sales)
CPM and CPC might increase during Semana Santa (Holy Week) and May Day, particularly for travel and tourism campaigns. 'Puentes' (bridge days) could reduce weekday inventory while pre-holiday traffic boosts media consumption. Black Friday typically marks sharp rises in retail competition. Late December brings peak ad volumes and e‑commerce CPM spikes.
CPMs are heavily influenced by competition, seasonality (e.g., Q4 costs more), audience size, and ad quality. Smaller audiences and lower relevance scores often lead to higher CPMs.
Different campaign objectives, bidding strategies, and even time of day can change your CPM. For example, conversion campaigns usually have higher CPMs than traffic ones. Also, broad targeting tends to drive lower CPMs.
In most industries, CPMs range from $5 to $18 depending on the region and objective. Retail and e-comm campaigns often sit at the higher end. Our live data above shows a breakdown by country and industry.
Both matter, but audience quality (intent + match with your offer) usually has more impact than pure size. However, extremely tight audiences often lead to expensive CPMs due to limited delivery opportunities.
Depends on your goal. For awareness, CPM is more relevant. For performance campaigns, CPC and CPA matter more. But all are connected—inefficient CPMs can inflate your entire funnel.
Discover detailed cost benchmarks for different Facebook advertising metrics:
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Cost per thousand impressions across different markets
Benchmark click-through rates for Facebook ads
Cost per lead across different markets
Average cost per purchase benchmarks across industries
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