CPL Calculator
On this page, we’d like to cover the importance of the cost per lead (CPL) metric. We also share a brief manual on how to use our CPL calculator.
What does CPL stand for?
CPL stands for cost per lead. Marketers need it to measure the performance of online marketing. It reflects the amounts you’ve invested into promotional channels to attract a lead. A lead is a user who has provided his/her contact information in the process of registration or the desired action. This contact information is used for further marketing interactions with the client.
What CPL can we consider good?
The value does depend on the business and varies from industry to industry.
But just like with other metrics, the CPL calculator provides us with numbers only.
And this index itself won’t tell you anything out of context. It should be considered in close relation with other metrics: CTR, average check, CR, LTV, etc.
Moreover, even promotional campaigns with numerous leads and low CPL may not bring the desired result if you have troubles with the marketing strategy, such as poor content on websites, broken forms for filling, and other failures. Therefore, be sure to test your landing pages, emails, texts, illustrations, buttons, etc., before launching CPL-based activities.
How to calculate CPL?
CPL is the ratio of the money spent on a specific channel to the total number of leads engaged through this channel over a certain period.
Therefore, the CPL formula looks like this: cost of promotional activities divided by the number of leads attracted.
For example, we spent $2 000 on a Facebook ads campaign. That campaign brought us 1 400 leads. Lead cost is $2 000/1 400 = $1.42.
Knowing the CPL rate, we can evaluate the performance of our campaigns and make the required improvements in time. Stripo is ready to help you with our calculator. Save time on routine processes, and redirect them into a creative vein!