Time to convert
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Definition
Time to convert is the delay from a first interaction to a target action. Instead of a single overall conversion it shows how the share of converted users accumulates over days since entry. This answers how long the product usually takes to “mature” and how quickly a channel pays back.
How to compute
For a cohort, build the cumulative share converted by day — the empirical CDF of conversion time. Take the median and percentiles from it, not the mean. To compare channels and segments, overlay curves over the same observation horizon.
Pitfalls
Unfinished cohorts are censored: later days are not yet filled in, so the share is understated. Conversion time is heavily right-skewed, so the mean misleads and the median is needed. Time to convert does not replace retention: a fast action and long-lasting use are different questions. Fix the observation horizon, or comparison is unfair.