Explain what are the other two options for bidding other than C-P-C?
Advertisers have three methods of bidding for their ads other than cost per click (CPC), That are Cost per thousand impressions (CPM), and Cost-Per-Conversion (also known as a Cost per Action, or simply, CPA).
Cost-per-click (CPC) is bidding strategy you should use to maximize the number of visitors to your website. If you want to generate traffic to your website, focusing on clicks could be ideal for you. Cost-per-click (CPC) bidding may be right for your campaign.
Cost per thousand (CPM), also called cost per mille, is a marketing term used to denote the price of 1,000 advertisement impressions on one webpage. The formula for CPM is as simple as the concept behind it. Since CPM is cost per thousand impressions, then you simply divide the cost by the number of impressions divided by a thousand. So the CPM formula is CPM = 1000 * cost / impressions.
Cost-Per-Conversion (CPA): It is calculated as the cost divided by the number of actions being measured.CPA bidding is a method of paid advertising that allows you to tightly control your advertising spend.