It hasn’t gone anywhere.
You may have noticed that the conversion rate metric seems to have disappeared in GA4. Don’t panic; it’s just been renamed. Conversions are now called key events, and new metrics have emerged that serve as an equivalent to the old conversion rate:
Session key event rate - the percentage of sessions in which any key event was triggered.
User key event rate - the percentage of users who triggered any key event.
Julius Fedorovicius released a video on how to find and add these metrics to standard reports. Apparently, Google took note, and now session key event rate and user key event rate are available by default in traffic acquisition reports.
If you work with GA4 to BigQuery exports, be sure to check out my SQL cheat sheet.
