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In this video, the speaker discusses a digital marketing strategy focused on conversion rate optimization (CRO), which aims to prevent website visitors from leaving without taking action, such as making a purchase or contacting the business. CRO involves continuously testing and implementing changes to enhance user experience and improve conversion rates. A conversion is defined as an action taken on the website, which varies based on the business model; for e-commerce, it could mean increasing product sales, while for service providers, it may involve potential clients requesting quotes or making direct calls. A good conversion rate is also context-dependent.