Metrico glossary
Conversion Rate
Conversion rate is the share of an eligible population that completed the defined conversion action.
Definition
The denominator matters. A storefront conversion rate can use sessions as the denominator; an ad report can use clicks; an email report can use delivered messages or visits. The conversion event also needs a definition, such as purchase, lead, subscription, or checkout. Compare conversion rates only when the event and denominator are consistent.
Formula
Conversion rate = conversions ÷ eligible denominator × 100%
Example
300 purchases ÷ 10,000 eligible sessions = 3% session-to-purchase conversion rate.
What to remember
- State the conversion event and denominator.
- Traffic mix can move conversion rate without a site change.
- Product availability, price, offer, and checkout performance can all influence conversion.