What metric tells you how often, on average, an ad click or other ad interaction leads to a conversion?

Conversion rate directly measures the percentage of ad interactions (like clicks) that result in a conversion. It's calculated as (Conversions / Ad Interactions) 100. Cost-per-conversion tracks the average cost paid for each conversion, not the frequency of conversion. Conversion value-per-cost evaluates the return on investment by comparing the value generated from conversions to the cost incurred. Conversion value-per-click assesses the average value generated per click, not the likelihood of a click leading to a conversion.