Conversion rate is the rate at which users are taking a desired conversion action. It’s important to make sure that this rate reflects what is truly viewed as ‘success’ within your organization—popular conversion events marketers and other mobile growth professionals select for tracking include mobile app download, user activation or sign-up, mobile in-app purchase, or more.
Conversions will vary depending on the particular business model you and your marketing or growth team have employed, as well as the industry and growth stage of your brand. For example, a conversion for an eCommerce company could be as simple as someone making a purchase. Companies that offer monthly services, however, may define a conversion as a user signing up for a subscription. A conversion can also be simpler—in this case, for example, a conversion could be as simple as an app download or creating a profile.
There are a number of ways to strategically optimize conversion rates for web, app, and cross-platform brands. The strategy and approach, of course, differs according to the conversion rate you’ve selected for your business. On our blog, we’ve shared helpful guides for getting more mobile app downloads and increasing in-app purchases, for instance. (You can also click here to learn how Instacart improved their conversion rate by 6x.)
Understanding true conversion rates becomes difficult when you consider both web and app platforms. Since your users are often not identifiable in the same way across web and app platforms, you may well be counting the same person twice—once on the web, and once in the app. This creates a huge, worrisome potential for inaccurate reporting for emerging and enterprise brands alike.
To ensure that your conversion rate is accurately de-duplicated, check out cross-channel attribution.