Is CTR Still Relevant in Modern Programmatic Advertising?

While conversion metrics like CPA and ROAS have largely taken over for lower funnel objectives, CTR still sees significant use in mid to upper funnel campaigns at my organization (a top 4 agency). In my view, there's almost always a better metric than CTR for any given objective. For low funnel or conversion-focused goals, opt for metrics like cost per conversion, conversion rate, ROAS, or CPA. For mid funnel objectives, consider using completion rate or cost per completion for video/audio/CTV, and instead of CTR for display ads, pixel the landing page and target CPA for LP visits. This mirrors CTR but filters out accidental clicks, adding value by monitoring bounce rate for quality visits. Engage with rich media using engagement rate metrics. For top funnel or awareness goals, focus on primary KPIs like awareness, and secondary metrics such as viewability, reach, and brand safety. Although CTR could be considered here, landing page visits are a more reliable metric. The only scenario where CTR/CPC might be optimal is when there are restrictions on site pixels or tracking LP visits. Otherwise, I don't see much use for it.