Cost per lead vs cost per appointment: the number property agents should track

The two formulas

Cost per lead = ad spend ÷ number of leads.

Cost per appointment = ad spend ÷ number of booked appointments.

An illustrative example

These are example numbers to show the maths, not benchmarks. Suppose you spend S$1,000.

• Campaign A: 100 leads, S$10 each. Only 5 book. Cost per appointment: S$200.
• Campaign B: 40 leads, S$25 each. 10 book. Cost per appointment: S$100.

Campaign A looks cheaper on the dashboard. Campaign B costs half as much to get a person in front of you.

Why the gap happens

• Easy forms collect curious people. Forms that ask a question or two collect fewer, better leads.
• Slow replies lose leads who were ready. See why leads go quiet.
• Ads that promise too much attract people who expect something you do not offer.

How to track it

1. Count leads that replied at all (reply rate).
2. Count leads that booked (appointment rate).
3. Divide spend by appointments, every week.

This is why our AI WhatsApp assistant reports appointments, not just leads.