paying $20 cpm on highly targeted forum, good deal?



It's actually pretty hard to answer unless we know of your niche! Since this a very generic question.

$20 CPM can be a justifiable price in many cases and may be a valid price if it pertains to niches above a specific grade.
 
understand that forums naturally have inflated page views/impressions, so don't get too excited about the monthly volume available, and expect a poor CTR.

with that being said, $20 CPM is pretty bad, but $20 CPM on a forum is fucking insane.
 
If it will make you a profit yes, if it will make you a loss no.
 
No, no and no. Unless you're operating in a market where there's one hell of a premium on your lead payouts, $20 CPM is a recipe for disaster. Even if the market IS lucrative...that's far too much to pay on a buy where you're anything less than certain.

Forums BURN impressions. When you think of the individuals lurking on messageboards, clicking through threads and reading through several pages at a time, that's a lot of impressions wasted on the same uninterested eyeballs.

If a forum is getting 3.5 million impressions per month, it sounds pretty mainstream to me. So go and advertise with other similar forums instead. You should be able to negotiate a much better price with their rivals.

Failing that, use PPV to bid on the URLs. Same targets, cheaper traffic. Make sure you cap your ad views per user so you're not wasting more money.