This article will help in letting you know the definition of lead generation and how much you have to pay per lead. Surprisingly, by the end of 2018, the average cost per lead was more than 77 Billion USD. It is an enormous amount. But how will you know that your money is well-invested or wasted?
For sustainable growth, it is vital to bring new consumers to your sales channel. Hence, you have to be concerned about the efforts that work for lead generation to avoid spending on waste. Reach out to the most trusted company for SEO optimization in Cumming and bring your site to the top.
What is cost per lead?
CPL or cost per lead advertising is a commonly used metric for gauging an online marketing campaign’s effectiveness. The formula for calculating the cost per lead is the Total Cost of the online marketing program/ figure of leads from the program. Example: Let us assume you have spent $1000 on a PPC Atlanta ad, and 50 individuals were converted into leads. So, according to the formula, CPL would be $1000/50= $20.
How much is lead cost?
Lead creation is all about the ROI of the customer acquisition. If your ROI is higher, then you have to pay more to a lead. A lower return on investment means less cost per lead. The average CPL differs depending on your company size, industry type, lead generation funnel, or company proceeds.
Lead Generation Costs types
- List Purchase: The charge of purchasing or renting a third-party address list and telemarketing list for direct promotion.
- Media Placement and Distribution: The charge of attaining prospective clients for your digital program.
- Agency and Labour: The charge of appointing a company for handling certain digital marketing procedures such as SEO. Check out some top companies for SEO Optimization in Cumming.
- Incentive: The charge of instant rewards such as discounts or vouchers to premium-quality prospects prior to purchasing actions.
- Campaign Creation: The charge of developing a valuable digital marketing program.
- Other: The charges of running a digital campaign away from the ones discussed above.
10 industries and their average cost per lead
- Retail: $34
- Marketing: $99
- Finance: $ 160
- Healthcare: $162
- Travel and Tourism: $106
- Media and Publishing: $108
- Business Services: $132
- Technology: $208
- Consumer Products: $105
- Non-Profits: $31