Conversion cost is slightly different than other metrics we have talked about like conversion rate. Conversion cost is defined as the cost it takes to convert a consumer into a lead or into a closing.
In real estate terms, “conversion cost” might be used the same way “cost per lead” is used and are theoretically interchangeable in that regard. With regard to leads, the cost that is being calculated is the cost it takes to convert a consumer into a lead.
Another example that might be used when talking about conversion cost is the cost associated with converting consumers to leads and leads into actual closings.