Cost Per Lead
Have you figured out your cost per lead for 2017? While you are looking over your year-end numbers and closing your 2017 books it’s the perfect time to calculate your cost per lead. Cost per lead is important to know because it helps you figure out how to increase your sales.
Divide the total advertising dollars you spent on each marketing tool (postcards or newspaper ads or online marketing, etc.) by the number of leads that came in from that marketing tool. (Note: Call tracking phone numbers help you to track this accurately!)
The result is your cost per lead. Now you have a baseline and you can work to improve your numbers each year.
Here is a detailed explanation of how to use CPL to increase sales.
Written by: Elaina Burdick