In this week’s video, we will look at Cost Per Lead (CPL), or how much it costs to generate a lead, in order to optimize your Customer Acquisition Cost.
Cost per Lead is an important metric to gauge how productive your marketing efforts are and to prioritize each channel according to their efficacy. For example, if your CPL is low but your CAC is high, it means that you have a lead quality issue and can give you the data you need to switch tactics.
Let’s look at how CPL is calculated:
While CPL is a simple metric to track, it’s one of the most important metrics when it comes ensuring that your marketing stays on track throughout the year.
If this video was helpful, subscribe to our YouTube channel in order to catch next weeks’ Ad Math video. And if there is a marketing metric you’re struggling with, leave it in the comments below and we’ll feature it in an upcoming episode.