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Should the Google Analytics utm_medium from Facebook Ads be cpc or display?

Facebook Ads: cpc vs. display?

What is the optimal way to set up UTM tracking from Facebook Ads for maximum benefit in Google Analytics in 2020?

Typically you see everyone recommending to set the utm_medium as cpc (or relevant cases, cpm), but they don’t explain why:

So, my questions are:

  1. Doesn’t it make more sense to mark it as display instead, since they’re technically display ads?

  2. Or is there something else entirely that you recommend doing for the
    utm_source & utm_medium URL parameters for FB Ads?

I’m aware that there’s always the possibility to set up custom parameters, but that often makes GA accounts non-standard and then doesn’t show up in default GA segments and dimensions.

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