It is the number of conversions on a page of a website divided by the total number of visitors on that page.
For example, if an e-commerce website gets 100 visitors in a month and gets 25 product sales, then the conversion rate would be 25 divided by 100, i.e., 25%.
Here, sale of the product is one conversion part. Just like that, you can find conversion rate for other conversion rate actions.
Conversion can differ from page to page of your website. It need not necessarily be monetary. Common conversion goals include:
- Gathering email address, name, phone number, and/or another personal information
- Form submission
- Getting click on a Call-To-Action button
- Social media account follow
- Views on video
- Downloading freebies, lead magnets
Once you’ve defined your Conversion Goal, you’ll have to divide the number of people who took that action by the total number of people who came to that page. This will give you your conversion rate.