CPA divides ad spend by the number of target actions. The same number means different things when acquisition is a first purchase versus a lead form.
The demo filters click dots into conversions. Fewer conversions raise CPA while spend stays fixed.
Platform-reported conversions may include existing customers or sales that would have happened anyway. Check the action definition, deduplication, and customer value.
When to use
Use it against an acquisition cost target, while checking action quality and later revenue.