Would this be an increase of 20% or 1,000%?

Question

I recently increased a website's conversion rate. The page initially had a 2% conversion rate, but I've optimized the website and it currently has a 22% conversion rate. Which of these would be the best way to describe the improvement:

1. Increased landing page conversion rate by 20% (22%-2%)
2. Increased landing page conversion rate by 1,000% ([(22 - 2) / 2] × 100%)

Answer 1

I think the key word here is "rate". Seems to me that total landing page conversions increased by 20% because you're talking about the percent of total viewers that clicked through to the next screen. The conversion rate, however, increased tenfold or 1000% because you're making a relative comparison of the change from 2% to 22%. It seems like splitting hairs but I believe they're two different statistics.

Of course you can always take the safe route and say both; Increased total conversions from 2% to 22%, a relative increase of 1000% from the previous level.