Having a website is not enough, you’ll need to get visitors, and structure the experience so that your visitors complete an action you have in mind. The act of getting your visitors to complete an action is your conversion. Comparing the amount of conversions to your visitors will give you your conversion rate.
We were tasked to decrease the bounce rate and increase conversion rate for the website. A bounce happens when a user visits a website, and does not interact any more with the site by clicking to another page or link.