The conversion rate in the context of viral lead generation is significant as it determines the effectiveness of the viral strategy. It refers to the percentage of individuals who are shared the app (or product) and become users. A higher conversion rate means that a larger proportion of the individuals who are exposed to the app become users, thus increasing the overall user base and reducing the customer acquisition cost. This is crucial in viral lead generation as it amplifies the effect of each new user, as each new user can potentially bring in additional users.
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