Instead, a weighted metric based on the number of visitors to a page, the number who stayed for a reasonable amount of time, and the number of visitors who viewed consecutive pages, provides more useful and actionable insight. Such weighted metrics also help to provide complete context of the outcome, including the drivers that affect that outcome.
For example, consider what I call overall marketing effectiveness, or "OME." That is a measure that can be tracked over time to show a composite view of marketing campaign effectiveness. OME is composed of "attraction," "engagement," and "conversion."
Overall Marketing Effectiveness (OME) = Attraction x Engagement x Conversion
Attraction is a measure of bringing visitors to the Website; for paid search, that would be click-through ratio. Engagement measures the percentage of visitors who stayed and engaged, based on time spent, number of pageviews, etc. And conversion tracks the percentage of visitors who completed designated website goals—converted to qualified leads, became sales opportunities, closed orders, etc.