Conversion rate is one of the most critical metrics in digital marketing. It measures the percentage of visitors to your website or landing page who complete a desired goal (a conversion) out of the total number of visitors.
A conversion isn't always a direct sale; it can be signing up for a newsletter, downloading an eBook, submitting a contact form, or calling your business. For example, if 1,000 people visit your site in a month and 50 of them fill out your contact form, your conversion rate is 5%. Improving your conversion rate (Conversion Rate Optimization, or CRO) ensures you get more value out of your existing traffic without needing to spend more on advertising.