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Conversion refers to the process of persuading a user to take a desired action, such as making a purchase, signing up for a newsletter, or completing a form. In marketing, the goal is often to increase the conversion rate, which is the percentage of users who complete the desired action compared to the total number of users who visit the website or interact with a marketing campaign.
Conversion metrics are ways to measure the effectiveness of a marketing strategy by tracking the percentage of “yes” answers to the call to action. Click through rates on ads, sign up rates for emails, and percentage of product page visitors who purchase the product are all examples of conversion metrics.
Conversions are essentially the main measurement of a company’s success, so they are a crucial KPI within nearly every marketing campaign. Conversions and conversion rates are a direct indication of the effectiveness of any marketing strategy since they show how often recipients of the messaging answer “yes” and become more invested in the brand.