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Reduce Cost Per Lead By 20% Using First Party Data

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Cost per lead (CPL) is the leading indicator guiding marketers. CPL makes it evident if the ads for the business are at the make-or-break stage. Marketers often focus on increasing everything - performance, leads, conversions, etc. But they try to reduce this metric - the cost per lead. And it has been a persistent challenge for marketers to do so. 

Frequently Asked Questions (FAQs)

The primary reason for your cost per lead to be high is ad targeting accuracy caused by data privacy regulations and updates such as the iOS14.5+, third-party cookie deprecation, etc. Sometimes it is also due to increased competition.
To reduce your cost per lead, you need to fix your targeting accuracy using your first-party data, understand your audience and then target them with personalized and resonating messages.
There’s no ideal cost per lead for all businesses. You cannot generalize. However, if you want to know if your cost per lead is good, compare the cost with your profit margins. So, if you want to know that running the ads is profitable, then see if you are spending less money than your profit margins.
Ideally, your cost per lead should be decreasing in nature and marketers should focus on reducing it.
Divide your total marketing spend by the total number of leads for that spend.

Marketing enthusiast who enjoys writing articles on a wide range of topics including Marketing, SaaS, Technology, Construction, Life lessons, Public Policy Nature, and Sustainability. Good at Public Policy analysis with a deeper understanding of societal issues and potential solutions. Also loves to volunteer & contribute to society in every possible way.

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