From Longman Business Dictionaryconversion rateconˈversion ˌrate1MARKETING the number of sales in relation to the number of sales visits, phone calls etcThe key to direct marketing is whether you open the envelope, and our conversion rates should be three times higher than our rivals’.2COMMERCE the figure showing how much of one thing you get in exchange for another thingForeign banks generally offer a better conversion rate for travellers’ cheques than for cash. → rate
