Conversion rate is a core metric for tracking the success of your users and getting insight into how to grow your user base. You can calculate the conversion rate between two events via a graph or a funnel.
Example #1: Calculate Conversion in a Graph
To calculate the conversion rate in a graph, navigate to Analyze > Graph, then select Conversion Rate Between from the graph drop-down.
As a Heap example, we may want to see the conversion rate between signing up and running a report, so we’ll graph these two events.
Note that granularity plays a large role in how the average is calculated. The user has a window of time to complete a set of two events in order to be included in the graph. If the granularity is a day the user has 24 hours to complete the second event. If the granularity is a week, the user has 7 days. If the granularity is a month, the user has 30 days. If a user completes both events, the graph calculates the time between the first event and the first time the second event is completed, then returns the average across all users who have completed event one and event two within the window specified.
You can also use this drop-down to graph the time between two events, as detailed in Measure the average time between two events.
Example #2: Calculate Conversion in a Funnel
To calculate the conversion rate in a graph, navigate to Analyze > Funnel, then select the two events you wish to see the conversion rate between.
The results of this query will give you the conversion rate. Just like with the graph, you can add filters and group bys to further refine your query, or adjust the date range to see the conversion rates for a specific window.
To learn how to use funnels to see how long conversion typically takes, see See how long it takes users to convert.