Browse Definitions :
Definition

conversion rate

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

SearchCompliance

  • compliance risk

    Compliance risk is an organization's potential exposure to legal penalties, financial forfeiture and material loss, resulting ...

  • information governance

    Information governance is a holistic approach to managing corporate information by implementing processes, roles, controls and ...

  • enterprise document management (EDM)

    Enterprise document management (EDM) is a strategy for overseeing an organization's paper and electronic documents so they can be...

SearchSecurity

  • IPsec (Internet Protocol Security)

    IPsec (Internet Protocol Security) is a suite of protocols and algorithms for securing data transmitted over the internet or any ...

  • principle of least privilege (POLP)

    The principle of least privilege (POLP) is a concept in computer security that limits users' access rights to only what are ...

  • biometric authentication

    Biometric authentication is a security process that relies on the unique biological characteristics of individuals to verify they...

SearchHealthIT

SearchDisasterRecovery

  • risk mitigation

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a business.

  • call tree

    A call tree is a layered hierarchical communication model that is used to notify specific individuals of an event and coordinate ...

  • Disaster Recovery as a Service (DRaaS)

    Disaster recovery as a service (DRaaS) is the replication and hosting of physical or virtual servers by a third party to provide ...

SearchStorage

  • cloud storage

    Cloud storage is a service model in which data is transmitted and stored on remote storage systems, where it is maintained, ...

  • cloud testing

    Cloud testing is the process of using the cloud computing resources of a third-party service provider to test software ...

  • storage virtualization

    Storage virtualization is the pooling of physical storage from multiple storage devices into what appears to be a single storage ...

Close