A conversion rate is the average number of conversions per ad interaction as a percentage. Remember that a conversion is a desired goal of an ad, often a website visit or sale. Conversion rate can be found by dividing the number of conversions by the total number of ad visitors and multiplying by 100 to get a percentage.
While desirable conversion rates vary greatly by industry and business model (the average conversion rate in Google Ads is 4.40% on the search network), a high conversion rate can be indicative of a successful ad campaign.
Example: Mikaela was calculating the conversion rate of her ad campaign. There were 1100 conversions out of 35,600 total ad interactions, yielding a conversion rate of 3.09%.
In B2B SaaS, a channel partnership is a joint venture between a software vendor and a partner to resell, manage and deliver the product to end customers. Channel partnerships are a mutually beneficial relationship as they act as an extension of the vendor's marketing department, allowing the vendor to sell more with lowered customer acquisition fees. The partner benefits by making a cut of the revenue for customer referrals or sales.
Example: Channel partnerships are a way to grow revenue by capturing additional customers and allowing SaaS companies to focus on their core business.