Spend doubled. Leads doubled. Revenue barely moved.

Cost per lead stayed flat while the return collapsed, and the number that would have explained it was never on the report.

By Steve 5 min read
Abstract bridge artwork for Spend doubled. Leads doubled. Revenue barely moved.

A marketing budget goes from £20,000 a month to £40,000. Leads go from 400 to 800. Cost per lead holds at £50, which everyone reads as proof the channel scaled cleanly. Then the quarter closes and closed-won revenue is up by a tenth. Nobody can find the leak, because the reporting was built around an average, and the average is the one number guaranteed not to show what the extra money bought. The average and the margin are different purchases Take the illustration further. At 400 leads a month the…

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