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c
 
  conversion    
When a visitor comes to your web site and that visit results in a desired action such as a phone call, a sale, a sign-up, whatever it is you are attempting to get them to do, that is called a conversion.  If you have a banner that advertises a shoe sale and someone clicks on the banner, gets to your site and buys shoes that is a conversion.  If someone clicks on your pay per click advertisement for real estate sales and that person goes to your site, finds your number and calls you that is also a conversion.  You have converted someone from a mere looker to someone who has made contact with you or your company.
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conversion rate    
Conversion rate is the measurement of how many people who go to your site or click on your advertisement actually buy something, click on a affiliate ad, sign-up, join, or call.  If twenty people come to your site from your pay per click campaign by clicking from the term "cheap new IPOD for sale" and of those twenty three people buy something from you site that is a great conversion rate.  On the other hand if dozens of people go to your site from a campaign and no one converts than it's time to debug the campaign.
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conversion tracking    

When a click from an advertisement leads directly to a desired action by the visitor that is a conversion.  Conversion tracking is data collection and analysis.  what search term was typed in by the user that lead to that conversion?  How much did that click cost the advertiser? How many clicks did it take to result in that sale? With good conversion tracking an online advertiser can view numerous analytics which can help them get the most out of their advertising campaigns.  Conversion tracking is one of the things that make the Internet such a powerful advertising medium.
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cookies
Singular: cookie or cooky.  Cookies are collections of information including the current date and time and the username if the visitor of a web site which is stored on the visitors local computer.  This is used to identify users who have previously visited the site.  One of the uses of the information stores in cookies is to keep track of affiliate sales.
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cost per acquisition
The cost the advertiser pays overall to gain a customer.  All advertising costs in a given period of time and the number of new clients or customers gained from that advertising established the cost per acquisition.

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