In the Google AdWords program, your Maximum CPM Bid is the highest amount that you're willing to pay for each 1000 impressions on your placement-targeted ad. CPM stands for cost-per-thousand impressions. When using CPM advertising, the price you pay is the same whether users click on the ad or not. This is actually different from cost-per-click (CPC) campaigns, where you pay only when your ad receives a click.
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