Conversion rate
From The Yaffe Center
It is the ratio of the number of accepted offer of the ad and the number of click to the ad. When an ad is presented in the sponsored section of the search engine and if a person clicks on the ad it is recorded as a click. If the person accepts the offer in the ad which maybe a promotion offer, request to fill a form or an offer to buy a product then it is recorded as conversion.
Conversion rate is sometimes the true measure of the success of a campaign. It reflects the effectiveness of the ad in persuading a customer to take a desired action intended from the ad campaign.