Research shows that 73% of businesses do not know their current CPL. This downfall generally leads to business goals being missed and marketing budgets being inefficiency spent. Overall, creating frustration across the business and unnecessary pressure being added to the Marketing team’s output.
Added to the mix is that of misalignment, and lack of communication, between the Finance and Marketing departments. With 50% of Marketing Managers admitting they do not discuss granular targets, such as CPL metrics, with their CFO or Heads of Finance.
The combination of these findings naturally leads to gaps in the business and has a knock-on effect for bottom line revenue, achieved business goals and YoY growth.
Discover your current CPL and challenge it. Using a simple formula such as Total Marketing Spend / Total New Leads = Cost Per Lead will allow you to identify the gap between your business's current and desired CPL.
Then start to scrutinise each step of the process including taking a deep dive into campaign management and an analysis of the efficiencies of marketing spends.
It is the Marketing team’s job to assess every channel and identify areas where improvements can be made but not all of the pressure falls on their shoulders. In many cases, they need the support of cross functioning departments (Sales, Finance, Product, HR) to help achieve the overall goal.
We primarily operate on a referral basis, however if you would like to enquire about a how we could help your business discover hidden value, please get in touch.
We operate by our principles of value creation and therefore do not charge for our initial consultation. This builds trust and gives both parties a sense of freedom and flexibility before engaging.
Headquartered in Dublin, we operate across European, Middle Eastern and US markets where we work with world-leading tech companies, influential start-ups and innovative B2B enterprises.
