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Conversion Ratio: visits or visitors?

     
3:07 am on Jan 19, 2013 (gmt 0)

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Does conversion ratio conventionally refer to visits or visitors? I get about 22% more visits than visitors. Wikipedia says visitors:

"In internet marketing, the conversion rate is the proportion of visitors to a website who take action to go beyond a casual content view or website visit, as a result of subtle or direct requests from marketers, advertisers, and content creators."

But immediately afterward, their formula specifies visits:

[en.wikipedia.org...]
8:30 am on Feb 7, 2013 (gmt 0)

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Visits are simply the new visits, returning visits and vistors are the number of Unique Visitors to your website so the ratio will always be more.
5:43 pm on Feb 7, 2013 (gmt 0)

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I consider it unique visitors (even though GA thinks different), but I suppose it matters on personal preference.