Conversion rate is the percentage of visitors to a page or a site who did the thing it exists for: a call, a form, a booking or a purchase. A hundred visitors and three enquiries is a three percent conversion rate. It is the number that connects traffic to money, and the one most monthly reports leave out.
A conversion is whatever you decide counts. For a plumber it is a phone call. For a Shopify store it is an order, and a newsletter sign-up might be a second, smaller one. The rate is only meaningful once those actions are being measured, which on most small business sites they are not.
