See how your CPL compares. Explore lead generation cost benchmarks by industry, region, and campaign type
February 2025 - February 2026
Detailed observation of presented data
Across all countries, the Venture Capital & Investment category delivered a year of unusually sharp swings in Facebook Ads cost-per-lead (CPL) — largely below the global benchmark but punctuated by a mid-year surge. The headline: the industry averaged $28.57 per lead in 2025, running about 31% cheaper than the $41.53 global all‑industry benchmark, yet with far greater volatility. A deep Q2 trough set the stage for a dramatic Q3 rebound, before settling into steadier, elevated levels through Q4. This analysis is based on $3B worth of advertising data from our dataset, which provides strong directional benchmarks. This analysis explores ad performance trends for Venture Capital & Investment across all countries compared to the global benchmark.
The year opened at $29.34 in January and closed at $37.34 in December, a 27% lift across the calendar. The extreme points tell the real story: a low of $4.65 in April and a high of $59.07 in July — a 12x spread. Average monthly movement underscored the turbulence: CPL shifted by an average of $14.54 month over month, versus just $3.13 for the global benchmark.
Key inflection points were abrupt. CPL compressed from March’s $20.99 to April’s $4.65 and stayed depressed in June ($4.72). Then July spiked to $59.07 — more than 11x higher than June — before a sharp pullback in August ($23.22). From there, the market climbed back toward the high-$30s to mid-$40s: $40.44 in September, $46.75 in October, $42.42 in November, and $37.34 in December.
On averages, the halves of the year were fundamentally different: H1 averaged $15.60, while H2 averaged $41.54 — a 166% increase, essentially matching the global 2025 average in the back half.
Quarterly rhythms were pronounced. Q1 was moderate at $24.52, Q2 marked the year’s trough at $6.69, and Q3 vaulted to $40.91, with July as the standout peak. Q4 held steady at $42.17, suggesting a normalization at higher CPLs into the year’s close. This pattern contrasts with typical gradual cost pressure that builds into Q4: in this category, the slump arrived early, the surge hit in midsummer, and late-year levels stabilized rather than accelerating.
Relative to the global baseline, Venture Capital & Investment ran below market in 11 of 12 months. The category was closest to parity in October (4% below) and furthest below in June (−89%) and April (−88%). July was the lone above‑market month, coming in 44% higher than the global CPL. Through the year, the global benchmark rose steadily from $35.04 in January to $42.24 in December (+20%), while this category’s all‑country CPL climbed more choppily (+27%), with roughly 4.6x the month‑to‑month volatility of the global trend.
Understanding Facebook Ads cost‑per‑lead benchmarks for the Venture Capital & Investment industry across all countries provides a clear view of industry ad performance and country‑specific ad costs relative to global Facebook Ads benchmarks. This CPL analysis, set within broader CPM analysis, CPC trends, and CTR performance context, highlights how this category’s global all‑country pattern compared with the market in 2025.
Insights & analysis of Facebook advertising costs
Facebook advertising costs vary based on many factors including industry, target audience, ad placement, and campaign objectives. In the Venture Capital & Investment industry, Facebook ad costs can be influenced by seasonal trends and market competition. Geographic targeting affects ad costs based on market competition and user engagement in different regions. Different campaign objectives lead to varying costs based on how Facebook optimizes for your specific goals. The data shown represents median values across multiple campaigns, and individual results may vary based on ad quality, audience targeting, and campaign optimization.
We use the median CTR because the underlying distribution of click-through rates is highly skewed, with a small share of campaigns achieving extremely high CTRs. These outliers can inflate a simple average, making it less representative of what most advertisers actually experience. By using the median—which sits at the midpoint of all campaigns—we provide a more rigorous and realistic benchmark that reflects the true underlying data model and helps you set attainable performance expectations.
Note: This data represents industry median values and benchmarks. Your actual costs may vary based on specific targeting, ad creative quality, and campaign optimization.
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A good CPL usually ranges from $10 to $50, depending on your industry and target audience. B2C offers tend to be cheaper, while B2B or high-ticket services may see CPLs over $100.
Your CPL could be high due to weak creative, irrelevant targeting, or an offer that doesn't resonate. Low engagement or poor conversion rates on your landing page can also drive up costs.
Yes. Campaigns optimized for conversions or leads tend to generate cheaper and more qualified leads compared to traffic or engagement objectives. Facebook needs clear signals to find the right users.
Focus on improving your offer, targeting the right audience, and using high-converting creative. Test native lead forms, but make sure you're still qualifying users properly.
If your goal is sales or revenue, optimizing for deeper funnel conversions is better. Optimizing for leads alone can inflate volume but hurt quality.
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