The conversion rate is the ratio between visits during which a goal is reached and the total number of visits. By measuring conversion rate, you can evaluate how well specific elements of your digital platforms are driving conversions and achieving the goals you’ve set. For example, you can measure conversion rate for your entire website or mobile site, or measure conversion rate just for a specific page, conversion funnel (or a specific step in your checkout funnel), a sign-up form, a campaign, or just about any other element on your site or mobile app.
While conversion rate is traditionally calculated using a visit-based approach, taking a visitor-centric point of view when calculating conversion rate can be very beneficial. As today’s customers often make several visits before converting, and as the purchase cycle is different for each business, a visitor-centric approach can provide a more accurate view of conversion rate.
See why a visitor-centric calculation of conversion rate is helpful and learn how to calculate conversion rate this way in this article.
Similar definitions :
Contact Rate: The contact rate is measured as follows: the number of contacts obtained from one hundred opportunities generated…
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