Conversion rate is a key indicator in digital marketing and refers to the percentage of visitors to a website who complete a desired action, such as making a purchase, filling out a form, signing up for newsletters, or performing some other defined action.
The conversion rate is important because it gives an indication of how well your website or campaign is achieving its goals. A high conversion rate indicates that the website is effective in converting visitors into actions that are valuable to the business, while a low conversion rate may indicate that there is room for improvement in the website's design, content, user experience or offerings.