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What is a Conversion?
A conversion generally refers to a specific action that a customer takes on your website that represents a successful transaction or purchase. This could include completing a purchase, signing up for a newsletter, downloading an ebook, or any other action that you consider to be a desirable outcome for your business.
When you track conversions in WooCommerce, you can gain valuable insights into the effectiveness of your website and marketing efforts. By analysing conversion rates (i.e., the percentage of website visitors who complete the desired action), you can identify areas for improvement and make data-driven decisions to optimize your website and marketing strategies.
Some common conversion metrics that you might track in WooCommerce include:
- Conversion rate: The percentage of website visitors who complete a specific action.
- Revenue per visitor: The average amount of revenue generated by each website visitor.
- Average order value: The average amount spent per transaction.
- Cart abandonment rate: The percentage of website visitors who add items to their cart but do not complete the purchase.
By tracking these metrics and others like them, you can gain a deeper understanding of your customers and their behavior on your website, and use that knowledge to improve your business and increase your revenue.