Cost per outcome
What each stage actually cost, against the previous launch of the same offer to the same market.
Cost per registration
£5.18
Previous launch £1.08
4.80× worse
CPM
£49.74
Previous launch £29.09
1.71× worse
Raw CPL (step 1)
£2.73
Previous launch £1.08
2.5× worse
Cost per qualified reg
£10.69
Previous launch not tracked
New this launch
Where the 4.80× came from
Cost per registration is the product of every stage above it. Four things each got a bit worse, and they multiplied. This is the view that tells you which one to fix first.
Media costCPM
1.71×
Ad click-throughimpression to click
1.12×
Page conversionclick to step 1
1.32×
Step 2 gatestep 1 to registered
1.90×
1.71 × 1.12 × 1.32 × 1.90 =
4.80×
The single biggest contributor is the step 2 gate, not the traffic and not the page.
Nobody was looking at it, because every dashboard in the stack stops at cost per lead.
Registration page variants
Four versions ran on paid traffic. Bar length is the opt-in rate. Three of them were broken, and they were live for the first four days of the launch.
| Variant | Paid views | Step 1 opt-ins | Opt-in rate | |
|---|---|---|---|---|
| /10 | 357 | 22 | 6.2% broken | |
| /11 | 258 | 16 | 6.2% broken | |
| /12 | 364 | 39 | 10.7% broken | |
| /13 | 1,753 | 647 | 36.9% winner | |
| Previous launch, blended | — | — | 34.96% |
Live winnerKilled or superseded
The three broken variants ate 979 paid views, 36% of the launch's paid traffic, at a
blended 7.9%. Had all 2,732 views hit /13, step 1 opt-ins would have been about 1,008 instead of 724.
A 1.39× lift for nothing, spotted on day two instead of in the post-mortem.
The step 2 gate
The survey was placed before registration instead of after it. Everyone who typed their name and email but did not finish the second question was never registered for the webinar.
Typed name + emailstep 1 opt-in events
948
100%
Answered step 2the qualifying question
499
444 lost
52.6%
Actually registeredreached the webinar platform
457
491 lost
48.2%
46.8% of people who opted in were never registered. The previous launch had no step 2:
3,168 opt-ins became 3,168 registrations. Our own SOP says the survey goes on the thank-you page, after
registration. This build put it in front. That single placement decision is the 1.90× above.
Paid traffic only, 23 Jul – 6 Aug 2026. Client anonymised. Spend and CPM from Meta Ads Manager; opt-in and
step 2 counts from the page database; registration count from the webinar platform. Meta reported 197
results at £10.04 for the window; the page database recorded 382, which is why the platform number is not
the one used here.