In a paragraph or two, define conversion cost and explain briefly ...

[iveyjurea]

In a paragraph or two, define conversion cost and explain briefly why companies need to calculate it.

Question 2

In about 100 words, explain what touchpoints are and why touchpoint consistency is important, especially for companies that use multiple channels (online, retail stores, mailed catalogs) to reach their customers.

[Swizqar]

Answer to Question 1

The total amount of money that a site spends, on average, to induce one visitor to make a purchase, sign up for a subscription, or (on an advertising supported site) register, is called the conversion cost. Companies have found that measuring acquisition, conversion, and retention costs is important because it gives them an idea of which advertising and promotion strategies are successful.

Answer to Question 2

Companies should strive for a consistent customer experience at a particular lifecycle stage - that is, customers should experience the same level and quality of service whether they encounter the company online or offline. Online and offline customer contact points are often called touchpoints, and the goal of providing similar levels and quality of service at all touchpoints is called touchpoint consistency.