What a lead really costs in Morocco in 2026 10 sectors analysed, 90,000 conversions studied.

CPL médian

21 MAD

ROAS médian

2.8 x

Cycle

1-3 jours

Moroccan fashion e-commerce is dominated by D2C brands shipping cash-on-delivery (COD) — between 60% and 80% of orders depending on the brand. COD weighs mechanically on net ROAS because the refusal-and-cancel rate sits between 12 and 22% on women's segments, and climbs to 30% when the target reaches secondary cities less used to e-commerce. Brands that have shifted part of their volume to prepaid CMI payment (typically through a -10% incentive) saw their net ROAS climb by 0.4 to 0.7 points. Seasonality is sharp: Black Friday in November, January sales, and the end of Ramadan (May-June in 2026) concentrate close to 45% of annual revenue. CPM rises mechanically by 35 to 50% in those windows; accounts that fail to refresh creative cadence end up watching their CPL double over the last two weeks. On placements, Reels outperforms Stories on the 18-34 segment, while the feed remains unbeatable for conversion on the 35+ audience. Google Shopping accounts for only 15 to 25% of the mix on the brands we manage — the Moroccan market is structurally social-first. Watch out: Saudi and Emirati competition buying Meta Maghreb inventory on women's fashion segments creates unpredictable CPM spikes on weekends. We have measured up to +60% on Friday evenings in fashion retail in 2025.

CPL médian

145 MAD

ROAS médian

— x

Cycle

45-180 jours

Moroccan new-build real estate is a special case: direct ROAS isn't measurable platform-side because notarial signature lands 60 to 180 days after first contact, and developer commission never pushes back into Meta. We therefore track cost-per-qualified-appointment (show-room visit with an opened client file) as the most actionable proxy. The "raw" CPL — form filled with a valid phone number — sits around MAD 145 median; qualified CPL after sales filter rises to MAD 380-450. Casablanca, Rabat and Marrakech concentrate 80% of the spend but have distinct dynamics. Casablanca runs on the mid-range (50-90 sqm, MAD 1.2 to 2.4M), where Lookalike targeting from the existing CRM base outperforms interest targeting by a clear margin. Marrakech goes mostly after expats and the Moroccan diaspora via extended geographic targeting (France, Belgium, UAE) — CPM there is mechanically 2 to 3 times higher than Morocco-only. Rabat stands out for a strong administrative and institutional component; LinkedIn Ads, marginal elsewhere, becomes relevant there for high-end programmes. Real estate fairs (SIMI in Casablanca, SMAP Roadshow in Paris) remain the annual peaks. We consistently see CPL compression of 30 to 40% in the two weeks following a fair — purchase intent is sharper and retargeting fair visitors converts 5 to 8 times higher than cold prospecting.

CPL médian

62 MAD

ROAS médian

3.6 x

Cycle

3-21 jours

Morocco's aesthetic health segment has grown double-digit since 2023, driven by local demand and an emerging medical tourism (mostly French, Belgian and Emirati). The MAD 62 median CPL covers a sharply polarised reality: a lead for a general dental consultation runs between MAD 18 and 35, a lead for rhinoplasty or hair transplant between MAD 95 and 180, and heavy procedures (bariatric, reconstructive surgery) can reach MAD 250-400 per qualified appointment. The main bottleneck isn't cost, it's Meta compliance: any targeting by medical condition is banned, surgical before-after images are systematically rejected (even blurred), and the "beauty and wellness" policy tightened further in 2025. Clinics that perform have switched to "lifestyle" creative (voice-over testimonial, no visual before-after) with a generic CTA like "free consultation". That costs 15 to 25% more in CPL but remains the only compliant route. Phone qualification is critical: we see 1-to-3 spreads between clinics on appointment-to-paid-procedure conversion. The best accounts have a dedicated agent calling back within 30 minutes; the worst let leads sit for 48 hours and lose 60% of the potential. As we observed at Ouiglass on the optical segment, speed-to-lead is more profitable than any bid optimisation.

CPL médian

46 MAD

ROAS médian

— x

Cycle

14-90 jours

Morocco's private higher education market is seasonal to the month: 70% of annual spend commits between March and September, with a sharp peak in June-July (baccalauréat results) where CPM climbs 60 to 90% above the November low. Engineering schools, business schools and private universities all buy the same audiences in the same window — the auction war is real and we observe it on every account we manage. The MAD 46 median CPL refers to a "brochure request" form with a valid phone number. But the true operational metric is cost per confirmed enrolment, which lands between MAD 800 and 2,200 depending on the institution. The most expensive programmes (MBA, Executive Education) tolerate a high cost per enrolment because the average ticket exceeds MAD 80,000; BTS and professional bachelor's degrees need to keep it at MAD 600-900 to stay profitable. Continuing professional training (CPF, short courses in office tools, digital marketing, languages) is a sub-segment on its own: much lower CPL (MAD 12-25), short cycle (under 14 days), but a limited basket of MAD 3,500-9,000. TikTok Ads performs particularly well here, especially with 22-32 year-olds in career change. We have seen TikTok CPLs 30 to 40% below Meta on this segment since Q4 2025.

CPL médian

78 MAD

ROAS médian

— x

Cycle

21-120 jours

Morocco's auto sector clearly segments between new vehicles (official dealers, platform margins) and used vehicles plus financing (brokers, multi-brand). On new, the MAD 78 median CPL corresponds to a test-drive form with verified phone; on used, it drops to MAD 25-45 but with highly variable lead quality. 2025 saw two structuring shifts: the rise of electric and hybrid (+47% Meta spend on this sub-segment in our data) and the massive arrival of Chinese brands (Chery, MG, BYD via Auto Nejma and others) which doubled the number of advertisers on the same socio-demo audience. Direct consequence: CPM up 28% on 30-55 upper-middle-class targeting between Q1 2024 and Q1 2026. Financing and long-term leasing (LLD) are under-exploited levers in most dealerships. "Financing simulation" leads cost on average 40% less than "vehicle test" leads and convert at a comparable rate once phone qualification is done. We systematically recommend opening a parallel financing funnel to the product funnel, particularly on models with tickets above MAD 250,000.

CPL médian

32 MAD

ROAS médian

4.1 x

Cycle

1-45 jours

Tourism remains a driving force in Moroccan media buying, and 2025 numbers confirm a return above 2019 levels: Marrakech, Agadir and Tangier concentrate most hotel spend, with a notable rise of Chefchaouen and Essaouira on the boutique segment. The MAD 32 median CPL covers a quote request or direct booking; the 4.1x median ROAS reflects the sector's comfortable margin on direct booking vs OTA. Purchase windows are very short on the city-break segment (1 to 14 days between click and stay) and significantly longer on long seasonal stays (Northern Europeans heading to Agadir and Tarfaya in winter, 30 to 90 days). Funnels must be adapted: for city breaks, D-3 to D0 retargeting is critical and we regularly see 50 to 60% of revenue coming from that window. For long stays, inspirational top-of-funnel (drone videos, atmospheres) weighs much more. As we worked on at Zoo de Rabat, non-hotel "experience" players (parks, attractions, day outings) follow yet another pattern: highly seasonal, highly local (intent within the same week), heavily weather-dependent. CPL is lower (MAD 12-22) but so is the basket. The lesson: don't compare a hotel benchmark to a leisure benchmark, even if Meta groups them together.

CPL médian

380 MAD

ROAS médian

— x

Cycle

30-180 jours

Moroccan B2B SaaS remains a small sample in our study (6 advertisers, 47 campaigns, MAD 1.1M in spend) — we present these numbers as directional and invite readers to cross-check against other sources. That said, the orders of magnitude are consistent with what we see on MEA accounts managed from Casablanca for regional editors. Two profiles stand out. "Horizontal" SaaS (HR management, accounting, SME CRM) finds its leads mostly on Meta Ads via interest targeting plus customer lookalike, with MQL CPLs between MAD 180 and 320. "Vertical" or enterprise SaaS (agro-industry ERP, ediscovery, software factory) needs LinkedIn Ads to reach precise function/company-size targeting — higher CPL (MAD 450-820) but markedly better lead quality and a MQL→SQL ratio often doubled. Morocco is increasingly playing the role of acquisition hub for francophone MEA (Tunisia, Senegal, Côte d'Ivoire, Cameroon). Several of our clients run their expansion from a team based in Casablanca, with a Meta/LinkedIn mix adjusted country by country. The recurring practice we see working: a unified French funnel on Meta with multi-country geographic targeting, and a country-by-country LinkedIn funnel with localised landing pages. As observed at Leyton and Axure, accounts that industrialise creative testing (10+ variants per month, different hooks) break out from the pack — SaaS remains a universe where creative and messaging weigh more than bids.

CPL médian

58 MAD

ROAS médian

— x

Cycle

7-60 jours

Morocco's financial sector — retail banks, insurance brokers, incoming neobanks — operates under regulatory constraints we rarely see elsewhere: Meta sector bans on certain rate mentions, Bank Al-Maghrib validation for savings product advertising, ACAPS compliance for insurance. Concretely, 15 to 25% of creative submitted on first pass is rejected by the platform, which lengthens learning phases and artificially raises the early CPL. Auto insurance brokers are the most mature sub-segment: stable CPL around MAD 28-45 for a quote with a valid licence plate, very strong implicit ROAS since the broker's first-year commission largely covers acquisition. The health/protection segment is harder (CPL MAD 75-130) because conversion often requires a physical branch appointment. Neobanks (CIH Mobile, Wafacash, and now a few regional newcomers) changed the game in 2025: they buy app installs, optimise on KYC completion, and tolerate a cost per opened account between MAD 90 and 180. That's five to ten times cheaper than France or the UAE, and we clearly see it in MEA competition on Meta Morocco auctions — inventory is starting to tighten, particularly on the 25-35 urban segment.

CPL médian

9 MAD

ROAS médian

2.2 x

Cycle

0-2 jours

Moroccan food delivery is dominated by Glovo and Jumia Food on the platform side, and by restaurant chains building their own ordering apps (KFC Morocco, Dominos, several local chains). The MAD 9 median CPL is the lowest in our study — the purchase decision is immediate and the average ticket low enough that an app download, an activated promo code or a first order can be triggered for a few dirhams. The real sector challenge is not acquisition CPL but retention. The cost of a first order runs between MAD 18 and 32 (CPL + discount granted), and the unit economics only hold if the customer reorders 3 to 4 times within 60 days. Brands that industrialise CRM retargeting (push notif, SMS, Meta retargeting on D+14, D+30, D+60 inactives) break out with net ROAS 2 to 3 times higher. TikTok Ads exploded on this segment in 2025: we see TikTok CPLs 35 to 50% below Meta on 18-28 urban targeting, with first-purchase conversion rates equivalent. Creatives that work are almost exclusively UGC-style (chain employee or customer filmed in a single take), not over-produced product content. The barrier to entry is low but weekly creative refresh becomes mandatory to hold the cost.

CPL médian

24 MAD

ROAS médian

3.2 x

Cycle

1-7 jours

Moroccan D2C beauty is undergoing a structuring phase: premium argan oil brands positioned for export, hair care adapted to Maghreb hair types, niche perfumes, and halal-certified makeup brands. The MAD 24 median CPL hides two distinct dynamics. Product brands (direct sale of a cosmetic) run between MAD 14 and 32 on an interest form or abandoned cart; service brands (hair salons, institutes) climb to MAD 40-90 for a qualified appointment. Creative makes or breaks performance in this sector. Brands that shifted in 2024-2025 toward a UGC + local creator mix (micro-influence 20k-200k followers) instead of classic studio production saw their CPL drop 30 to 45% at constant budget. TikTok Shop, still embryonic in Morocco as of May 2026, is starting to roll out; we see the first brands testing in-app purchase with encouraging results but still limited volumes. Seasonality resembles fashion's but with two distinct peaks: Valentine's Day and Ramadan (skincare ahead of Eid weighs heavily). COD remains the majority (55 to 70% of orders) with the same abandonment constraints as fashion. Premium brands that mandate CMI prepaid payment filter their audience and improve their net ROAS, at the cost of lower top-of-funnel volume.