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conversion rate

In foreign exchange, a conversion rate is the ratio between two currencies. In digital marketing it is to do with "unique" users of a website or an app that respond to a desired call-to-action (CTA) that can be digitally tracked. The nature of the online "action" is monitory (based on sales funnel metrics) or non-monitory, such as subscribing to a newsletter, clicking on a banner, downloading content or filling in a survey. The rate between all "unique" users and those who have completed a desired action during a set period of time is measured as a percentage. If 1000 "unique" users are traced in [3.01/3.02] website within a month and 30 of them have clicked on a banner that was pre-defined as a desired action, the conversion rate is 30 divided by 1000, thus 3%.

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