Most people often get confused with the terms CPV and CPM. Depending on the objectives of an ad campaign some choose CPV and some CPM as their bidding strategy. If you are into Google Ads you must know the exact difference so that you can use them depending on the goals of the ad campaign.
Cost Per Impression(CPM) is where you pay for 1000 impressions to Google.CPM is a type of CPV but here you don’t get charged for an individual view. When your objective is just to build brand awareness without any plans to drive traffic to your store or website through video ads then CPM would be the best choice to select and advertise. With CPM you would be able to reach more people.
Cost Per View(CPV) is useful when you want to build brand awareness and want them to take a specific action such as Link clicks paying for their interactions with your video ad.CPV is cheaper compared to the traditional CPC ads so this would be the best choice when you want to build awareness and drive the traffic to your website or store.
Finally, CPV and CPM are best used depending on who you want to reach and what are you planning to achieve those campaigns. It would be better to use them both as the bidding strategies in your campaigns to test and find out the best one that is more effective in obtaining the best results for your business within a specific amount of budget.