Browse Definitions :
Definition

conversion rate

Contributor(s): Matthew Haughn

The conversion rate is the rate at which website visitors or potential customers take a specific desirable action. The actions desired in these conversion rates could include subscribing to newsletters, filling out forms, applying for credit cards, purchasing products or making service commitments.

The conversion rate is used as a metric to quantify the effectiveness of marketing campaigns, sales, salespeople, website designs and other sales tools. The rate is calculated as the number of potential customers or site visitors divided by the number that take the desired specific action.

Better conversion rates are sought and achieved in a number of ways including:

  • Better value propositions and clear sales pitches that show why the customer should choose you over competitors.
  • Contests.
  • Professional page (re)design.
  • Prominent display of contact info, guarantees, certifications and awards.
  • Social proof such as displayed testimonials and clinical trials.
  • Effective headlines and content on websites and marketing materials.
  • Continuous tracking of improvement efforts and testing pages or approaches to see what works best.

The conversion involved in the conversion rate can be thought of as, for example, turning a site visitor into a subscriber or a customer. Conversion rates are also part of the attempt to turn more visitors into revenue sources in one way or another. These revenues can come from making a sale, increasing customer trust and time investment, and gathering marketing info in the hopes of future payoff. Conversion rates focus on making the most of the visitors you have, rather than necessarily attempting to get more traffic.

This was last updated in January 2017

Continue Reading About conversion rate

Join the conversation

1 comment

Send me notifications when other members comment.

Please create a username to comment.

How difficult or easy it is to set customers on board to a new products.
What market researches to be done to understand customers taste and needs. Thinking and providing a solution to customer can really increase early adopters for the product. What will be the fascinating want of the new consumers to get attracted to something that they can pay for.
Cancel

-ADS BY GOOGLE

File Extensions and File Formats

Powered by:

SearchCompliance

  • risk management

    Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings.

  • compliance as a service (CaaS)

    Compliance as a Service (CaaS) is a cloud service service level agreement (SLA) that specified how a managed service provider (...

  • data protection impact assessment (DPIA)

    A data protection impact assessment (DPIA) is a process designed to help organizations determine how data processing systems, ...

SearchSecurity

  • cybersecurity insurance (cybersecurity liability insurance)

    Cybersecurity insurance, also called cyber liability insurance or cyber insurance, is a contract that an entity can purchase to ...

  • phishing

    Phishing is a form of fraud in which an attacker masquerades as a reputable entity or person in email or other communication ...

  • cybercrime

    Cybercrime is any criminal activity that involves a computer, networked device or a network.

SearchHealthIT

SearchDisasterRecovery

  • business continuity plan (BCP)

    A business continuity plan (BCP) is a document that consists of the critical information an organization needs to continue ...

  • disaster recovery team

    A disaster recovery team is a group of individuals focused on planning, implementing, maintaining, auditing and testing an ...

  • cloud insurance

    Cloud insurance is any type of financial or data protection obtained by a cloud service provider. 

SearchStorage

  • NVMe over Fabrics (NVMe-oF)

    NVMe over Fabrics, also known as NVMe-oF and non-volatile memory express over fabrics, is a protocol specification designed to ...

  • logical unit number (LUN)

    A logical unit number (LUN) is a unique identifier for designating an individual or collection of physical or virtual storage ...

  • CIFS (Common Internet File System)

    CIFS (Common Internet File System) is a protocol that gained popularity around the year 2000, as vendors worked to establish an ...

Close