I found the requirement of conversion rate of 10% quite funny. The conversion rate is never an absolute metric to worry about. It depends on so many different variables: product type, intended usage, sales and marketing effort, etc.

In fact, you can artificially push up this number by having a team of sales people profiling potential customers and then persuading users to try out the product. Even though this will result in a large cost of customer acquisition (remember: you have actively persuaded potential customers), conversion rate will be much higher than 10%. On the other hand if you are relying on SEO and get lots of passive and active interest in the product, your conversion rate will be much lower. (But you paid close to nil for each additional potential customer)

Ultimately what matters is if a company can make cost of customer acquisition less than life time value of the customer. Hard to measure as compared to conversion rate, but that's what really matters.

If you want to measure something related to conversion rate, measure how much you can improve it. Not how much it currently is.