Conversion rate optimization is the process of tracking and analyzing user behaviour to see how you can get more of them to complete a intended action (buy/try/click/share/download/visit store/etc.) online or offline. 

Improving the conversion rate of customers already visiting your website can be a more impactful and cost effective strategy than getting more customers to visit your website. Improving the experience for the customers you already have is a great way to minimize costs and maximize impact.

Analyzing and understanding the experience of users on your website through tracking will help you figure out how to make it easier for users to do the intended action. The goal is to remove obstacles preventing them from completing the intended action or friction that is slowing them down.

This is an important tactic for businesses that already have a steady stream of customers visiting their digital properties and want to get more results from the customers they already have.