What it means in plain language
Conversion rate is the percentage of users or sessions that resulted in a specific action.
Where it genuinely helps
Conversion rate is the share of visits or people completing a defined action and depends on denominator, period and traffic quality.
What to decide before acting
Document the exact event and population and analyse devices, sources and new customers separately.
How to tell whether it works
Check duplicate events, consent, seasonality, absolute volume and conversion value so a percentage cannot hide declining sales.