Formula
Installs / App store page views x 100
How to measure
Pull page view and install data from the app store's analytics console and divide installs by page views.
Why track it
This isolates how well the app's icon, screenshots, and description convert curiosity into an install, separate from how they were driven to the page.
Example
An app improves its store conversion rate from 22% to 34% after redesigning its screenshots to lead with the core use case.