Cost Per Lead (CPL) is the dollar amount you are paying to acquire each lead from your advertising campaigns. For instance, if you have spent $10000 on a campaign that generated 100 leads, your Cost Per Lead (CPL) is $100. It is essentially the figure you are paying for each individual lead.
How does it affect your marketing budget?
Marketers spend millions of dollars in advertising each year. Lead generation or demand generation will always be a part of any marketing budget. Marketing leaders know how difficult it is to watch every dollar spent while working on a tight budget. Unfortunately, many of them don’t think it is important to calculate Cost Per Lead (CPL) and determine the ROI of their advertising campaigns. The infographic below paints an accurate picture of how important calculating Cost Per Lead (CPL) is while working on a tight advertising budget.