What it is
CPL is the most common lead generation metric because platforms can report it directly.
Why it matters
For lead generationIt shows how cheaply interest is being bought. On its own it says nothing about whether that interest is worth anything.
How it is measured
Formula
CPL = spend / leadsDivide spend by leads for the same period and campaign; read it next to the share of leads that qualify.
A common mistake
Optimizing CPL down. The cheapest leads are often the least qualified, so cost per customer can rise while CPL falls.
Read the evidenceThe machine hits the target you give it All terms