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My CPM spiked overnight. Did I do something wrong?

Almost certainly not. CPM is primarily driven by platform-wide auction competition, not individual account behavior. Common causes of overnight CPM spikes: (1) holiday period — BFCM, Valentine's Day, back-to-school, etc. when every brand on Meta is competing for impressions, (2) budget changes you made that triggered a new learning phase, (3) your audience is saturating and Meta is reaching lower-quality impressions to fill your budget, (4) national/global news event driving people off social media. In most cases: wait 48-72 hours before reacting. CPMs fluctuate naturally.

Tactical FixCheck: (1) is it a holiday or major event week? If yes, CPMs will normalize after. (2) Did you change your budget by more than 20-30%? If yes, you triggered a new learning phase. (3) Is frequency above 4-5? If yes, audience saturation. Only act if the spike persists for 5+ days with declining performance.

See this in practice: Read Your Data

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