← Glossary
Cost Per Lead (CPL)
Cost per lead is what you paid in advertising for each enquiry, regardless of whether that enquiry ever became a customer.
Why it matters
It is the fastest available read on campaign efficiency, and the easiest to misinterpret.
What people get wrong
Optimising toward it. Two leads at the same price are not worth the same amount - one closes at nothing, one closes at ninety thousand dollars. An account tuned to produce the cheapest possible lead will systematically starve the campaigns producing the expensive ones. Cost per lead is a diagnostic; booked value is the objective.