Start with one cohort and a stated observation cutoff
Keep the original inquiry date and acquisition source, then record later stage outcomes against that same identity. Deduplicate repeated forms or messages according to a documented rule. State the date through which sales outcomes were observed and how cancellations or repeat customers are treated.
An unanswered lead is an incomplete observation, not automatically an unsuitable lead. A connected call, OTP confirmation or an appointment is not an acquired customer. Google Ads distinguishes qualified and converted leads through business outcomes; define the actual event before assigning either label.
- A Hypothetical Google Search Case Study for a New Cairo Off-Plan Project
- Real estate lead scoring: project fit, routing and validation
- Connect Meta and Google Ads to CRM outcomes without confusing stages
Primary reference: Google Ads: qualified leads and converted leads
Multiply rates only when the stage counts are nested
In this hypothetical teaching example, assume 12,000 EGP of media spend produced 120 unique inquiries. Of those inquiries, 30 meet the documented project criteria; three of those 30 become unique acquired customers by the same review cutoff. These are invented inputs, not an observed client result or a regional benchmark.
If contact-to-sale uses contacted leads as its denominator, it cannot simply replace inquiry-to-customer conversion. Likewise, multiplying rates from different campaigns, months or customer populations does not reconstruct this cohort. Write the count and denominator next to every percentage.
On smaller screens, scroll the table horizontally to read all columns.
| Measure | Numerator / denominator | Result |
|---|---|---|
| CPL | 12,000 EGP / 120 inquiries | 100 EGP |
| Project-fit rate | 30 / 120 | 25% |
| Customer rate within project-fit leads | 3 / 30 | 10% |
| Inquiry-to-customer rate | 3 / 120 = 25% × 10% | 2.5% |
| Media cost per customer | 12,000 / 3 = 100 / 0.025 | 4,000 EGP |
Changing the cost boundary changes the metric
The 4,000 EGP result includes media only. If the same cohort has another 3,000 EGP of included marketing costs, marketing-only CAC is 15,000 / 3 = 5,000 EGP. Add 6,000 EGP of included acquisition-related sales costs and the stated broader measure is 21,000 / 3 = 7,000 EGP. Other omitted costs are not automatically zero.
Agree allocations and the customer definition with finance before comparing reports. Neither a media-only ratio nor a broader CAC automatically says whether the acquisition is commercially sustainable. There is no universal healthy CAC percentage of property transaction value established by this guide.
A five-percentage-point change is an assumption, not a promised saving
For sensitivity only, hold CPL at 100 EGP and the project-fit-to-customer rate at 10%. Changing the assumed project-fit rate from 25% to 30% is a five-percentage-point rise, or a 20% relative increase in that stage rate. The assumed overall customer rate becomes 30% × 10% = 3%.
The modelled media cost per customer becomes 100 / 0.03 = 3,333.33 EGP instead of 4,000 EGP: about 16.67% lower. This is arithmetic under fixed assumptions, not a forecast that better contactability will deliver that saving. Costs, lead mix, downstream conversion and follow-up capacity can also change.
This sensitivity says nothing by itself about a cash payback date. A different stage definition or changed denominator would require a different calculation. Do not describe five percentage points as a universal halving of payback or a fixed CAC reduction.
Resolve mismatches before recommending more budget
Reconcile the stage counts back to the cohort, then separate incomplete follow-up, project-fit issues, sales progression and cost exclusions. If the multiplication does not match the observed customer total, first check identity, stage ordering, denominator and cutoff rather than averaging the percentages.
Use the blank worksheet below for aggregate stage review. End with the missing record, its owner and the next bounded decision: complete sales outcomes, correct duplicate identities, agree a cost allocation or design a test. Do not invent conversion standards for a country or attribute an illustrative comparison to a particular Platform.
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- Compare CPQL and advertising spend per contract
- Review calculation definitions and limits
- Read the GPR Property experience in context
For a campaign, lead-quality or measurement review, begin with the project objective and aggregate figures for the same period. Deliverables, timing and fees depend on the assessed scope; outcomes are not guaranteed.
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