Yes, but you only calculate it after a campaign to inform future negotiations. It's a backward-looking metric, not a real-time KPI.
The method is refreshingly simple. Speaking on The Bottom Line, Nate Lagos of Original Grain shared that he measures RPM thirty days after an influencer's video goes live. This window allows views and attributed sales to mature. The formula is (Total Revenue / Total Views) * 1000. He uses this historical data to build a benchmark for his brand's audience value. With a reliable RPM range, he can then look at a new creator's average viewership and forecast the potential revenue, which gives him a hard number to guide the price he's willing to pay. This data-focused approach has helped him close deals faster and avoid overpaying.
The key nuance is that your target RPM is entirely unique to your brand. The $40-70 range works for Nate's watch company, but it's based on his specific margins and average order value. A more universal starting point is to understand your own unit economics and breakeven Return on Ad Spend (ROAS). As a few hosts on Ecommerce Playbook often discuss, your targets should come from math, not vibes. Rather than fixating on a specific RPM, it can be simpler to just measure the direct ROI for each creator, which Taylor Lagasse touched on in another discussion. Ask yourself: how much did I pay them, and how much revenue did they directly drive? That's often the most actionable metric of all.