Stop obsessing over the wrong Facebook ads metrics. There are really only two you should care about.
Meta gives us a whole bunch of metrics to distract us with. Be careful.
Most of the metrics are secondary or tertiary (I mostly like saying “tertiary”). They provide some context, but they’re otherwise not that important.
The primary metrics you should care about are simple:
1. The Number of Desired Actions that you’re optimizing for
2. Cost Per Desired Action
That’s it. Don’t get distracted by the other metrics. That includes CPM measures the cost per 1,000 impressions. It's a good metric to evaluate competition level and costs to reach your audience. More, CTR, and especially Facebook reports on CPC (All) and CPC (Link Click). The first refers to all clicks and the second on all internal and outbound links. More. Many advertisers are fooled into thinking that if you improve these metrics, that’s rarely the case.
I add columns for a bunch of metrics that I watch, but that’s mainly for entertainment purposes. Ultimately, I only care about these two.
You should, too. Simplify what you care about, and life is a whole lot easier.