Looking for the Average Cost per Lead on LinkedIn in the year 2024? We would be glad to help you.
Before going deep into CPL, let’s first understand the factors involved in deriving CPL on LinkedIn specifically LinkedIn Ads.
The average cost per lead of LinkedIn Ads depends on several factors:
- Geography
- Industry
- Demand for products & services
- If the industry is in a specific niche
- Ad targeting & relevance
- Ad format used
Average Cost per Lead on LinkedIn Ads (Updated 2024)
The average Cost per Lead on LinkedIn can range from $8 to $95 or more, depending on the factors described above. If we consider the geography factor as an example, in general, the Cost per lead in India is lesser than the cost per lead in US.
Now, if your product or service has a very narrow audience, you may witness a higher cost per lead for your LinkedIn Ad campaign. Sometimes in niche industries with higher CPL, conversion rates might be higher.
The LinkedIn Lead Generation Ad format also plays an important role in the flow and cost per lead. Please make sure that you are using the latest lead generation ad format to optimize your cost per lead and generate a greater number of leads at the same time.
Average Cost per Lead on LinkedIn Sales Navigator
Sometimes, running LinkedIn Ads can be expensive in the long run and we recommend our clients to leverage LinkedIn Sales Navigator. As of February 2024, the Pricing of LinkedIn Sales Navigator Core is $99 per month and INR 4,999 per month (excluding GST) in India. You can also get a free trial of 1 month if you have not taken a subscription to LinkedIn Sales Navigator in the past 1 year.
Now, let’s derive the cost per lead for LinkedIn Sales Navigator & LinkedIn’s main platform.
CPL = Monthly Agency fee/Number of monthly leads generated.
Since there is no Ad algorithm involved, the quality of leads is much higher. Leads are well researched and handpicked unlike in LinkedIn Ads. Multiple tailored follow-ups can be sent to the prospects at the same time with the help of Sales Navigator. A LinkedIn Sales Navigator subscription will be required to perform the outreach.
As of February 2024, no. of Sales Navigator credits offered is 50 so the credits should be used judicially every month. Unused credits are carried forward to next month. You can accumulate a maximum of 150 total credits at any point in time while using LinkedIn Sales Navigator. Please note that InMail credits expire after a period of 90 days.
Final Thoughts for CPL
While you are looking to reduce the CPL and increase the number of leads from LinkedIn Ad campaigns, please make sure that the quality of leads is not compromised. In an effort to increase the number of leads, if the target audience is further expanded, you may end up getting low-quality leads which might be a waste of time & Ad spent.
Looking for a professional LinkedIn Ad Agency to create, manage & optimize your Lead Generation Campaigns, we would be glad to help you.
The best part is that we are a LinkedIn-focused lead generation agency, and we can help you with our years of experience in managing LinkedIn Ad campaigns. Please reach out to us through the Contact Us page and we will be happy to discuss details over a call.
Harsh Singh
About Author: With extensive B2B Marketing experience, I specialize in driving client success across diverse industries through targeted B2B and LinkedIn marketing strategies. Having collaborated with clients from various sectors, I bring a client-centric approach, fostering lasting partnerships based on trust and tangible results. Connect with me on LinkedIn.
