Conversion Event
Beginner PronunciationEN/kənˈvɜːrʒən ɪˈvɛnt/
A conversion event is an event you flag as a business outcome, so the tool reports its rate and value separately from a plain count.
The mechanism is simple: you pick one of the events you already send and flag it, and the tool then computes its rate over a chosen denominator, usually sessions or users. There is a real naming collision here: Google Analytics 4 renamed this concept to key event in 2024 and reserved conversion for ad-attributed outcomes, while product analytics tools still call it a conversion. The common mistake is flagging ten events at once; when everything is a conversion nothing is a signal. Note too that the rate is normally computed from the day of flagging forward, not retroactively over history.
FAQ
Two names for one concept. Google Analytics 4 renamed conversions to key events in 2024 so that conversion could stay reserved for ad reporting; product analytics still says conversion event, and the behaviour is identical.
There is no universal number; it follows the count of real business goals, not the count of available events. A practical test: if a move in that event's rate would change no decision, it is not a conversion.