Track CPL to enhance marketing efforts

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 30, 2021, 3:16 AM GMT+0

Divide the total cost of a marketing tactic by the number of sales made to get cost-per-sale (CPS) for a marketing report.

When creating KPI reports, marketers must include metrics that are relevant to the business, and ensure the reports are not overburdened with irrelevant data. Include cost-per-lead (CPL) in the report by adding the overall cost of all marketing strategies, like PPC, direct mail and dividing it by the total number of leads generated overtime.

Having a target for CPL is recommended to allocate marketing budgets for each marketing strategy. Calculating CPS can help marketers measure the performance of their sales teams and optimise efforts for a particular marketing initiative.

To calculate ROI, differentiate the revenue brought in by their products against the CPS, and project future income from those sales. Simple reports help evaluate business direction.

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