Cost per click (CPC)(CPC)

Cost per click (CPC) is average spend divided by clicks: CPC = spend ÷ clicks. It is the primary efficiency metric for traffic and many lead-gen campaigns on click-priced auctions (Search, some social objectives). CPC rises when competition, audience narrowness, or low Quality Score / relevance increase your auction cost.

“CPC cap” bidding sets a ceiling; actual CPC can still vary click-by-click within the cap.