In summary it outlines the three different types of visitor interations/converion rates that you should measure, each depending on what the established goals are for your website (as a whole or specific sections).
Actions that lead to an acquisition or conversion such as an online purchase. Perhaps making an online application and subsequent payment would be considered such an action?
Actions that lead to gathering important information such an online application or enrollment, a confirmation to attend an upcoming event or activity, or simply registering to receive your newsletter
Actions that direct visitors to areas of your site that reduce operational costs. This would include your FAQ section, specific programme or application process information as well as more general information about moving to your town or country. Handling this type of queries on a case by case basis can be time consuming so knowing how people are using these sections on your site can be a very useful exercise.
- By measuring these visitor interactions, along with the more general analytics site data such as demographics, time on site, pages viewed etc, you will gain a very useful insight into the visitors to your site. Knowing them better means that you can engage them more effectively in the future!