Conversion optimization is not conversion generation
Conversion optimization is not the same as conversion generation. The former involves improving an existing system or process, while the latter involves much more involvement in developing a product and identifying a market. These are related and should be considered separately.
Prospective clients often confuse conversion rate optimization and conversion generation. Most already have an existing product or business, as well as some existing audience. With these items established, it's possible to optimize the process by making the path the success easier for the audience, identify the best market segments, run tests on marketing campaigns, split test positioning statements, etc. There's enough data and info to have a baseline established and track progress of changes.
On the other hand, conversion generation requires getting the initial sales. When there's only a vague idea of a product (i.e. clothing, pet toys, sporting goods), and the market is considered to be anyone that uses a search engine or social media platform, there's nothing to optimize. This situation requires conversion generation and is a more involved process.
The phrase conversion generation may not be a well-known moniker and perhaps it should be. It's an different process than conversion generation and the two require a different approach and framework.