Conversion rate refers to the proportion of website visitors who complete a specific action, such as making a purchase, filling out a form, or subscribing to a newsletter, after interacting with content or viewing a product. This figure is determined by dividing the total number of conversions by the total number of visitors.
A conversion rate is a valuable metric for assessing the performance of a website or marketing campaign since it measures how effectively a website or campaign is able to convert visitors into customers. A high conversion rate indicates that the website or campaign is performing well by successfully encouraging visitors to take action. Conversely, a low conversion rate may indicate issues with website design, user experience, or messaging that require attention.
Through careful monitoring and analysis of conversion rates, businesses can identify areas for improvement and implement strategies to optimize their website or marketing efforts to increase conversions and revenue.