Cost per funded deal: the only lead metric that matters

Cheap leads feel good until you look at what you funded. The number that tells the truth is cost per funded deal.

The formula

Take everything you spent on leads in a period and divide it by the number of deals you funded from those leads. That is it. If you spent the same on two sources and one funded twice as many deals, it was half the price, no matter what each lead cost.

What to track along the way

• Leads bought
• Leads contacted
• Statements received
• Submissions
• Funded deals and commission

Each step shows where the leak is. Low contact rate usually means slow calls or old leads. Low submissions usually means the first call needs work.

Compare sources fairly

Give each source the same reps, the same script and enough leads to judge. Changing three things at once tells you nothing.

Use it to scale

When your cost per funded deal sits comfortably below your average commission, buy more. When it does not, change one thing at a time. The how to buy MCA leads guide covers the rest of the setup.