Marketing · 28 Oct 2026
How to calculate CPM (formula, examples and eCPM)
CPM = ad cost ÷ impressions × 1,000. Learn how to calculate CPM, work backwards to budget or impressions, convert CPM to CPC, and what eCPM means.
Key takeaways
- CTR = clicks ÷ impressions × 100. 200 clicks from 8,000 impressions is a 2.5% CTR.
- For email, CTR uses delivered emails; click-to-open rate (CTOR) uses opens instead.
- A good CTR depends on the channel. Google search ads average about 6.66%, display and social ads far less, so compare like with like.
To calculate CTR (click-through rate), divide the number of clicks by the number of impressions and multiply by 100. If an ad is shown 8,000 times and clicked 200 times, its CTR is 200 ÷ 8,000 × 100 = 2.5%. CTR tells you what share of the people who saw something cared enough to click it.
The same formula works for search ads, social ads, organic search results and emails. What changes is what counts as an impression, and what a good number looks like.
The CTR formula
CTR (%) = clicks ÷ impressions × 100
You can rearrange it to work backwards:
- Clicks = impressions × CTR. 50,000 impressions at 1.2% CTR gives 600 clicks.
- Impressions needed = target clicks ÷ CTR. For 1,000 clicks at 2% CTR you need 50,000 impressions.
Worked examples
| Channel | Clicks | Impressions (or sends) | CTR |
|---|---|---|---|
| Google search ad | 330 | 5,000 | 6.6% |
| Facebook ad | 180 | 20,000 | 0.9% |
| Display banner | 45 | 100,000 | 0.045% |
| Organic search result | 240 | 6,000 | 4.0% |
| Email campaign | 310 | 12,400 delivered | 2.5% |
CTR for email: CTR vs CTOR
Email has two click rates, and reports often mix them up.
- Click-through rate (CTR)
- Unique clicks ÷ delivered emails × 100. Shows how well the whole send performed.
- Click-to-open rate (CTOR)
- Unique clicks ÷ unique opens × 100. Shows how well the content worked for people who opened.
If 12,400 emails are delivered, 4,000 are opened and 310 people click, the CTR is 2.5% and the CTOR is 7.75%. Since Apple Mail Privacy Protection began loading emails automatically, open counts are inflated, so CTR on delivered emails is the more reliable number to track over time.
CTR in Google Search Console
Search Console calculates organic CTR the same way: clicks ÷ impressions. An impression is counted when your result appears on a results page the user loads, even if they never scroll to it. That is why pages ranking on page two often show a CTR well under 1%.
Position has the biggest effect on organic CTR, but your title and description decide whether people choose you over the result next to you. Use the SERP Snippet Preview to check that your title and meta description are not cut off.
What is a good CTR?
There is no single good CTR. It depends on the channel, the format and the intent of the audience.
- Google search ads: WordStream by LocaliQ data puts the all-industry average at about 6.66%. Our Google Ads benchmarks guide has the details.
- Social and display ads: far lower, because people are not searching for anything. Display CTRs below 0.5% are normal.
- Email: varies widely by list and industry; compare against your own past campaigns first.
- Organic search: the top results take most clicks; results lower down get a small share.
The most useful benchmark is your own history. Compare each ad, email or page against your average for the same channel and audience.
CTR, CPC and CPM: how they connect
CTR links the price of attention to the price of a click. If you know two of these numbers, you can find the third:
CPC = CPM ÷ (1,000 × CTR)
At a $15 CPM and a 2.5% CTR, each click costs $15 ÷ 25 = $0.60. Double the CTR to 5% and the same CPM gives a $0.30 click. This is why a better ad can halve your costs on platforms that charge per impression. Our guide on how to calculate CPM covers the other side of the equation.
How to calculate CTR in Excel or Google Sheets
Put clicks in column B and impressions in column C. In D2 enter =B2/C2 and format the cell as a percentage. To avoid errors on rows with no impressions, use =IFERROR(B2/C2,0).
How to improve your CTR
- Match the searcher's words. Use the keyword in the headline or title so people see their query reflected back.
- Lead with a specific benefit or number. "Ships in 24 hours" beats "Fast shipping".
- Tighten targeting. A smaller, more relevant audience nearly always clicks more often.
- Test one change at a time. Change only the headline, the image or the call to action, so you know what worked.
- Refresh tired creative. Social ad CTR usually falls as frequency rises.
A high CTR is only good if the clicks convert. Tag every link with UTM parameters (see our UTM guide) and check conversion rate and ROAS too. The Break-even ROAS Calculator tells you the return you need for ads to pay.
FAQ
What is the formula for CTR?
Clicks ÷ impressions × 100. Use unique clicks and delivered emails for email campaigns.
Is CTR the same as conversion rate?
No. CTR measures the share of people who click after seeing something. Conversion rate measures the share of clicks that turn into a sale, sign-up or lead.
Why is my CTR high but sales low?
The ad or title may promise something the page does not deliver, or the traffic may be poorly targeted. Check the landing page, the offer and the audience before raising budget.
Can CTR be over 100%?
Not if you use unique clicks. Total clicks can exceed impressions when people click the same link several times, which is why most tools report unique clicks.