The term Conversion refers to any transaction that is a desirable outcome of a customer interaction. It is not only sales that are counted as conversions. Some types of conversions include:
- Filling out a quote request for a customized product
- Creating a project-based list of products that are submit for quotation. This may be for budgetary or planning purposes and have a long timeline, not for immediate purchase.
- A typical sale which may be the result of a paid advertising campaign or organic search.
- Downloading gated content such as a whitepaper.
Conversions are a Key Performance Metric (KPM) that should be tracked.