The conversion rate (CR) plays a major role in B2B marketing. It is a percentage calculated from the number of successful conversions (purchases, downloads, registrations, etc.) divided by the total number of all potential conversions.
For example, if 2000 people visit an online store and 10 of them buy a product, this results in a conversion rate of 0.5%.
The conversion rate can be used to compare the performance of individual channels and the content of an online marketing concept. If the CR is below the target value, a conversion rate optimization must be carried out. This refers to measures to improve the conversion rate. These can be, for example, optimized texts, a modified design, or other adjustments in the context of content marketing.
However, to optimize the conversion rate, it must first be recorded. This is where conversion tracking comes into play. This process defines which actions or activities are counted as a conversion and should be measured accordingly.
Hence, marketers use conversion rates to increase their sales.