It is the percentage of trials that have converted to active paying customers in a specific time period. For example, if there are 100 trial subscriptions created in a specific month and 60 subscriptions are converted to paid subscriptions within that time period, then the rate of trial conversion is 60%.
This metric helps to measure the product value and the number of users who are interested in your product and are ready to pay for it. By calculating the trial conversion rate, you can understand how effective the trial version of your product is and decide on ways to increase this conversion rate.
Click here to read about other metrics.