The rate at which people who visited your website converted into customers is known as conversion rate. If 3 people buy out of 100 people who visited your website then your conversion rate is 3%. To increase your e-commerce sales you can either increase your traffic while the percentage that buy remains the same, or you can try to increase the percentage of customers that buy the product. To increase the percentage of people that buy the product, you may need to better target your audience and bring in people who better represent your ideal customer segment to capture people at the final stages of the sales funnel.
Conversion rate optimization or CRO is the process to increase the conversion rate of different sections of your website through driving data. Conversion rate optimization should have call to action, website design testing and multi-variant testing. CRO should be based on consciously changing aspects of the customer journey, structured approach, and website design and product pages in order to increase conversions.