If you spend $1,000 on a lead gen campaign and get 250 leads, that’s a cost per lead of $4, right?
So wrong.
And, yeah, I know what you’re thinking: “That’s a bullshit clickbait title, Oli.” Thing is, not only is it completely true, but the impact of this mistake is countless ROI calculations that are totally incorrect. A quick LinkedIn search for roles in marketing and advertising produced 2,282,979 results in the US and Canada alone. How many of those people are presenting the wrong numbers to their bosses and clients?
To understand what’s happening, we first need to consider how it’s happening—and why.