Here’s a stat that looks bad and tells you nothing: $1,000 spent with six leads generated. Cost per lead is the most overrated number in marketing if you stop there. What matters is how many of those leads actually book, how many cancel, and how many turn into a sold job. A pricier lead source can quietly outperform a cheap one once you follow the whole funnel.
@officialchadpetermanTranscript
When I look at our marketing dashboards in one department, we've spent over a thousand dollars to generate six leads. Here's why that number tells me absolutely nothing. When you look at costs per lead, we also have to connect that with booking rate and cancellation rate. Just because you're getting cheap leads, doesn't mean they're actually turning into leads your ran and leads you converted. You have to look at the entire funnel. Depending on what you're spending, a more expensive lead may actually convert to a sole job and that cost per book lead, that cost per converted lead, all of a sudden get better on that particular lead source. Don't just look at what a lead's costing you, make sure you track it for the entirety of the funnel.
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