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

In landing page optimization, the conversion rate is a key metric for evaluating the effectiveness of the page in converting visitors into leads or customers. A web designer might explain, 'Improving the user experience and clear call-to-actions can significantly boost our landing page's conversion rate.'

Practice Scenarios

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.

Finance

Scenario:

Our revenue from international clients is fluctuating with the current currency exchange trends. We may need to revisit our pricing strategy.

Response:

Absolutely, we should consider currency hedging options to minimize the impact of conversion rate fluctuations.