In this tutorial, you will learn how to calculate CPL or the cost-per-lead of your marketing or sales campaign using Google Sheets.
How To Calculate CPL (Cost Per Lead) in Google Sheets
Are you running a digital marketing campaign with the goal of finding new leads to convert into sales? You may be wondering how much it costs you to acquire a lead through your ad campaigns. One of the key metrics to measure is the cost-per-lead or CPL.
CPL measures the amount of money you spend for each lead you acquire from your advertising campaign. It is calculated by dividing the cost of the entire advertising campaign by the number of leads acquired during that campaign.
Knowing your CPL helps you measure the return on investment (ROI) of your campaigns and make adjustments to your advertising budget accordingly. By quantifying how much it costs to gain new leads, you can have a better understanding of the budget needed to acquire new leads for your business.
In this guide, we will show you how to calculate your CPL in Google Sheets.
How To Find the CPL of a Marketing Campaign in Google Sheets
Here’s how to find the CPL of a marketing campaign in Google Sheets.
First, identify the total amount spent on marketing.
In our example, our ad campaign cost a total of $200.
Next, determine the total number of new leads generated from the marketing campaign. In this case, a lead refers to a person who has shown an interest in your business’s products or services. For instance, you can consider a subscription to a newsletter or a phone call as examples of new leads.
After spending $200 on online ads, our sample business was able to gain 5 new leads.
We can find the CPL or cost per lead by dividing the total amount spent on ads by the number of new leads.
Our cost per lead in the example above is $40. This means that it costs our business $40 to gain new leads. If we want to gain 10 new leads next month, we should be prepared to spend $400 in our next campaign
This guide should be everything you need to calculate CPL or cost-per-lead in Google Sheets
You may make a copy of this example spreadsheet to test it out on your own.