Use our FREE cost per lead calculator (CPL) to quickly discover your cost per lead so that you can take a data driven approach to your marketing campaigns.
Our CPL calculator uses the formula:
CPL = Total Marketing Spend/ Number of Leads
In an example scenario we have the following metrics:
Total Marketing Spend: $10,000
Number of Leads: 1000
$10,000 / 1000 = $10 CPL
So what is a good CPL?
CPL really depends on a number of factors and changes a lot depending on variables like product price and competition in your niche. As a general rule of thumb, if you are selling a product for $1,000 your cost per lead will be much higher than if you are selling a product for $100. Then online adverting CPMs are typically based on supply and demand so more competition in the niche means higher ad costs and higher CPL. At lido we recommend constantly testing things like new ad copy, different angles and multiple marketing channels to lower your cost per lead.
Now that you know your CPL and can optimize around this KPI effectively, it's time to consider using our customer retention rate calculator so that you can see how well you are doing at keeping customers once you acquire them.
Once you have optimized these metrics we recommend acquiring more customers with paid traffic and social media. Our facebook engagement calculator can help you see what content your customers are interacting with the most so you can get more leads in your sales funnel.