Meaning of the word "conversion rate" in English

What does "conversion rate" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

conversion rate

US /kənˈvɜːrʒən reɪt/
UK /kənˈvɜːʃən reɪt/
"conversion rate" picture

Noun

the percentage of visitors to a website who complete a desired goal, such as making a purchase or filling out a form

Example:
Our marketing team is focused on improving the website's conversion rate.
A high conversion rate indicates effective marketing strategies.