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A conversion path is a description of the steps taken by a user of a website towards a desired end from the standpoint of the website marketer. The typical conversion path begins with a user arriving at a landing page and proceeding through a series of page transitions until reaching a final state, either positive (e.g. purchase) or negative (e.g. abandoned session).
Reviewing the Top Conversion Paths report is a great way of identifying your most popular referral paths and how many times users interact with each channel before converting on your site.