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The video discusses a digital marketing strategy focused on conversion rate optimization (CRO), which aims to reduce website visitors 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 based on the business type; for e-commerce, it may mean increasing purchases, while for service providers, it may refer to potential clients requesting quotes or making calls. Ultimately, how one defines both conversions and a good conversion rate varies depending on the specific business goals.