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Conversion Rate is a metric that measures the percentage of visitors or users who take a desired action or complete a specific goal on a website, in an app, or in a marketing campaign. The desired action can vary and may include making a purchase, signing up for a newsletter, submitting a contact form, or downloading an app.
Conversion rate is calculated by dividing the number of conversions by the total number of visitors or users and then multiplying by 100 to express it as a percentage. It is a critical key performance indicator (KPI) in digital marketing and user experience optimization.
Improving conversion rates often involves A/B testing, optimizing user interfaces, refining marketing strategies, and enhancing the overall user experience to encourage more users to take the desired actions.