Field Guide Term:
Cost per Thousand (CPM)

Cost per thousand always refers to impressions. If you pay $5 for your ad to be viewed 1000 times then your CPM is $5.  CPM bid strategies are great for brand awareness.  You can get your brand in front of a lot of people without paying extra for them to take an action, click, or convert. CPM pricing is available on most ad platforms, but does not apply to Google Search Ads.