What is an app's conversion rate?

In apps, conversion rate usually means the share of downloads that become paying users — typically a few percent for apps that sell something.

It is made of steps: installs that open the paywall, that start a trial, and trials that pay. Each step can be measured and improved on its own.

In store listings, “conversion” also means the share of people who see a listing and install. Both matter; a listing that converts well ranks better.