conversion rate
ChatGPT’s explanation of “conversion rate”: Conversion rate refers to the proportion of successfully completing a specific action or process. This term is commonly used in marketing and e-commerce to indicate what percentage of visitors or potential customers ultimately convert into actual customers or complete a specific action (such as purchase, registration, download, etc.).
For example, if a website has 1000 visitors and 50 of them complete a purchase, the website's conversion rate is 5% (50/1000).
The conversion rate is calculated as:
Conversion rate = number of successful conversions/total number of visitors*100%
In digital marketing, increasing conversion rates is one of the main goals for many businesses, as this directly affects sales and revenue. Companies usually improve conversion rates by optimizing website design, improving user experience, and providing promotions.
The origin of this term can be traced back to the rise of online commerce. With the development of e-commerce, conversion rate has become an important indicator of website performance and the success of marketing activities.
