The conversion rate represents the percentage of website visitors or users who take the desired action that leads to the success of a business, or in other words the number of conversions in relation to the total number of visitors/users. The conversion rate of a website can be increased through CRO strategy.
The conversion rate is a marketing metric that represents the percentage of visitors or users who took a certain action on a website, that resulted in the benefit of a business. For example, if two people enter on an e-commerce website and one decides to leave while the other decides to buy a product, the second one counts as a conversion and the conversion rate for that website, in this case, would be 50%.
Conversions are different for each business, as one might consider a purchase a conversion, while others can count a subscription or a registration as a conversion. It all depends on the type of business and the preset goals.
In the app, users decide on their own which web pages count as conversions and are able to configure the ones that they consider important for their business, to be counted as conversions in the Overview Dashboard and in the Pages Menu → Conversions.
The conversion rate represents the percentage of visitors who take action and go beyond a simple visit to the website, through buying, downloading, filling in a form or complying with other requests on the website.
The formula of the conversion rate looks like this:
Conversion Rate = Number of Goal Achivements / Visitors