Cost-per-lead exists for every single business, though only some measure it. The usual reason for not measuring cost-per-lead is that a business's customer buying cycle is short enough for cost-per-acquisition (a closed sale) to be a viable success metric of the marketing team. However, with a trend towards longer buying cycles, cost-per-lead can be an important KPI in feeding the sales function.
In 2016, Prodo began working with Payzone, one of the UK's leading payment solutions providers. Payzone's customers typically experience a prolonged customer buying cycle, meaning that the success of its marketing team is measured primarily on cost-per-lead. Payzone came to us with the objective of reducing its cost-per-lead by 65% using digital tactics.
Interested in finding out how we did? Our case study explains the process we went through to not only hit the -65% target set by the client, but decrease it by a further 7.4%. Download the case study here.