In the context of a marketing campaign, conversion tracking doesn't exist in isolation. It’s important, but it’s not the whole story. For instance, high website traffic is fantastic, but if the Conversion Rate is low, it suggests that quantity isn't translating into quality. Similarly, a low bounce rate might indicate that a webpage is interesting, but without conversions, the story is incomplete.
Agencies use metrics like Click-Through Rate (CTR) and Customer Lifetime Value (CLV) to shed additional light on the Conversion Rate. While CTR reveals how effective a campaign is at steering potential customers to a landing page, CLV shows the long-term value those converted customers bring. Essentially, Conversion Rate provides a holistic view of campaign effectiveness.