PLAIN-LANGUAGE DEFINITION
Conversion rate
Conversion rate is conversions divided by a stated opportunity count.
IN PRACTICE
An example
25 orders from 1000 clicks gives a click-to-order conversion rate of 2.5 percent.
What this does not tell you
Session-based and click-based rates use different denominators and should not be mixed.
Use the term precisely
When you use this term in a brief or report, include the relevant source, scope and assumptions. An example explains the concept; it is not a benchmark or a promise of results.