Conversion rate
Conversion rate
Conversion rate is the proportion of a defined starting population that completes a specified action. Both the action and the population need to be explicit.
How it works.
A page enquiry rate could be enquiries divided by relevant visits. A qualification rate could be qualified leads divided by enquiries. These describe different stages and should not be treated as interchangeable.
What to watch for.
A percentage without a denominator can hide a changed audience or counting rule. Sessions, users, clicks and enquiries are different populations. Small counts can also produce unstable percentages, so keep the underlying totals visible.
Put the definition to work.
Use a rate to locate a change in the journey, then investigate the cause. A higher rate does not independently prove that an interface change caused the improvement.