The conversion rate
Example: Conversion rate measures percentage of users completing desired actions
Definition
"The conversion rate" in entrepreneurship refers to the percentage of users or potential customers who complete a desired action, such as making a purchase or signing up for a service, out of the total number of visitors or interactions.
Etymology
The phrase "the conversion rate" comes from the word 'conversion,' which originally meant turning or changing something into a different form or state. In business, it evolved to describe the shift of visitors into customers. The term 'rate' simply quantifies this change as a percentage or ratio.
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"The conversion rate" appears in the Vocaplus list "English - Entrepreneurship - (A1-C2) - set 1", containing 110 commonly used words.
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