What this category is for
Lead generation economics become clearer when the funnel is measured in sequence. Cost per lead tells you what marketing paid for a lead; lead-to-customer conversion tells you what share actually became customers; maximum CPA shows what the business can afford at the bottom of the funnel.
Use a strict lead definition and keep the cohort mature enough for sales to close. A cheap lead is not automatically valuable, and an expensive lead can be attractive when downstream conversion is much stronger. Start with the cost per lead calculator to compare raw CPL, qualified CPL and media-only customer acquisition cost from one cohort.