Conversion rate measures how often visitors purchase, while revenue per visitor combines purchase frequency and order value. The better primary metric is the one that matches the business decision and test risk.
When conversion rate fits
Use completed-order conversion when the main question is whether more eligible visitors purchase and order values are relatively stable. It is easier to interpret but can miss changes in basket value.
When revenue per visitor fits
Use revenue per visitor when the treatment can change price, discount, product mix, quantity, or average order value. Expect more variability because a small number of large orders can move the estimate.
Use both without metric shopping
Choose one decision metric before launch and keep the other as context or a guardrail. Do not switch the winner from conversion to revenue after seeing which measure favors the variant.
Add the missing economics
Neither measure includes margin, shipping subsidy, returns, support cost, or lifetime value by default. Add those guardrails when the treatment can materially change them.
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