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The Madison Avenue Field GuideA field guide to marketing & advertising, by Brandon Mina

GlossaryMeasurement & AttributionCost Per Acquisition (CPA)

Measurement & Attribution

Cost Per Acquisition (CPA)

The cost to drive one conversion, such as a sale or signup.

By Brandon MinaCEO, BrandPilot AIUpdated November 2026

Short answer

Cost per acquisition (CPA) is the average cost to drive one conversion, such as a sale, signup or lead. It is calculated by dividing total campaign spend by the number of conversions. CPA shows acquisition efficiency and is often a bidding target in ad platforms, ideally compared against customer lifetime value or contribution margin.