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The video discusses a digital marketing strategy designed to reduce website abandonment and increase user engagement, leading to more leads and sales. This strategy, known as Conversion Rate Optimization (CRO), focuses on testing and implementing changes to enhance user experience and improve conversion rates. A "conversion" is defined as any desired action a visitor takes on your website, which varies based on your business model—such as making a purchase for e-commerce or contacting a service provider for a quote. The definition of an effective conversion rate also depends on your specific business goals.