conversion-rate

Vocabulary Word

Definition

'Conversion rate' measures how successful you are at getting people to do what you want. It's like having 100 emails and finding out how many signed up for an event you hosted. The signup number divided by the total emails is your conversion rate.

Examples in Different Contexts

Conversion rate in online advertising measures the percentage of users who take a desired action after clicking an ad. An advertising specialist might say, 'Our goal is to increase the conversion rate by optimizing ad copy and targeting more relevant audiences.'

Practice Scenarios

E-Commerce

Scenario:

Despite attracting a steady flow of visitors, our cart abandonment rate is high. We should focus on enhancing the user's checkout experience.

Response:

You’re right. A streamlined checkout process could significantly boost our conversion rate.

Marketing

Scenario:

Our website traffic has improved remarkably after the revamp, but our online form fill rate remains suboptimal. We need to delve further into it.

Response:

Maybe we should rethink our call-to-action (CTA) placement to improve the conversion rate.