Before you open a calculator
Media cost metrics describe the price of access to an audience; they do not tell you whether the traffic is valuable. A low CPM can be useless if the audience never clicks. A low CPC can still be expensive if the traffic does not convert. A higher CPC can be perfectly reasonable when conversion quality and order economics support it.
That is why this section pairs buying metrics with break-even calculations. Start with the business value of a conversion, then work backward to the click or impression level. It produces a more defensible buying limit than copying a CPC or CPM from another account.
For reach and awareness work where direct conversions are not the primary objective, keep the outcome definition separate. Do not force a performance-commerce formula onto a campaign designed for a different job.