Conversion Rate (CVR) is the share of users who install your app after viewing its listing — the single metric that turns visibility into installs and feeds back into ranking.
Conversion rate is usually measured as installs divided by product page views (or by impressions for a top-of-funnel view). It's the multiplier on every bit of visibility you earn: doubling conversion doubles installs from the same traffic, with no ranking change needed. It's driven by the listing's persuasive elements — icon, screenshots, app preview video, ratings, and the first lines of text — which together decide whether a shopper who arrived actually installs.
Conversion is also a ranking factor, which creates a virtuous loop: a higher conversion rate tells the algorithm users find your app relevant and worth installing, so it ranks you higher, sending more traffic that converts. This is why ASO is never just keywords — improving the listing's conversion is often the highest-return work an app can do, and it compounds with everything else.
Example
Swapping a feature-list first screenshot for a benefit-led one lifts conversion from 28% to 35% — a 25% install increase from the exact same impressions. Because conversion is also a ranking input, every point you add compounds into more traffic that then converts.