Conversion rate (CVR) is the percentage of people who have taken action (converted) from the total amount of people who have seen your offer, landing page, etc.
Why use CVR?
Marketers use CVR to determine the effectiveness of marketing campaigns, landing pages, presentations, sales emails, etc.
The higher your CVR, the more likely you will convert visitors into customers. With a higher conversion rate, you also spend less on ads, and it’s easier to achieve your marketing goals.
Conversion rate formula
PEOPLE CONVERTED ÷ TOTAL VISITORS = CVR
If you had 20 conversions from 2,000 interactions, your conversion rate would be 20 ÷ 1,000 = 0.02 ⇒ 2%(0.02×100)
Your CVR is 2%.