Conversion rate is the % of visitors that achieved an specific goal moved form one step (or screen) of your process funnel to the next. >[!formula] >$CR_{step} = \frac{\text{Users Completing Step}}{\text{Users Entering Step}}$ >[!metric] > The difference between 100% and your conversion rate is your [[Drop Off Rate]]-the percentage of users who disengage or fail to move forward at that particular stage. >[!metric] > The [[Overall Product Conversion Rate]] represents the cumulative end-to-end impact of all individual conversion rates across the steps of a product or process. ### Why is it important? Conversion Rate is a [[Key Performance Indicator KPI]] and an industry-standard metric that provides valuable insights into your funnel’s performance. • It highlights **where users are facing friction** or experiencing issues in the process, enabling targeted [[Conversion Rate Optimization]]. • It also reveals **areas of success**, showing steps that users navigate smoothly and effectively. Understanding and optimizing your Conversion Rate helps improve user experience, maximize the effectiveness of your funnel, and ultimately drive better results for your business.