diff --git a/app/assets/javascripts/initializers/initializeBillboardVisibility.js b/app/assets/javascripts/initializers/initializeBillboardVisibility.js
index 8dd180b0f..e5983b8f1 100644
--- a/app/assets/javascripts/initializers/initializeBillboardVisibility.js
+++ b/app/assets/javascripts/initializers/initializeBillboardVisibility.js
@@ -52,7 +52,10 @@ function trackAdImpression(adBox) {
   adBox.dataset.impressionRecorded = true;
 }
 
-function trackAdClick(adBox) {
+function trackAdClick(adBox, event) {
+  if (event && !event.target.closest('a')) {
+    return;
+  }
   var isBot = /bot|google|baidu|bing|msn|duckduckbot|teoma|slurp|yandex/i.test(
     navigator.userAgent,
   ); // is crawler
@@ -111,7 +114,7 @@ function observeBillboards() {
     observer.observe(ad);
     ad.removeEventListener('click', trackAdClick, false);
     ad.addEventListener('click', function (e) {
-      trackAdClick(ad);
+      trackAdClick(ad, e);
     });
   });
 }
diff --git a/app/controllers/billboard_events_controller.rb b/app/controllers/billboard_events_controller.rb
index d8b147b2c..b6c3ded9c 100644
--- a/app/controllers/billboard_events_controller.rb
+++ b/app/controllers/billboard_events_controller.rb
@@ -1,5 +1,6 @@
 class BillboardEventsController < ApplicationMetalController
   include ActionController::Head
+  SIGNUP_SUCCESS_MODIFIER = 10 # One signup is worth 10 clicks
   # No policy needed. All views are for all users
 
   def create
@@ -22,7 +23,8 @@ class BillboardEventsController < ApplicationMetalController
 
       num_impressions = @billboard.billboard_events.impressions.sum(:counts_for)
       num_clicks = @billboard.billboard_events.clicks.sum(:counts_for)
-      rate = num_clicks.to_f / num_impressions
+      signup_success = @billboard.billboard_events.signups.sum(:counts_for) * SIGNUP_SUCCESS_MODIFIER
+      rate = (num_clicks + signup_success).to_f / num_impressions
 
       @billboard.update_columns(
         success_rate: rate,
diff --git a/app/javascript/onboarding/Onboarding.jsx b/app/javascript/onboarding/Onboarding.jsx
index 363fbbf90..5ade54918 100644
--- a/app/javascript/onboarding/Onboarding.jsx
+++ b/app/javascript/onboarding/Onboarding.jsx
@@ -10,6 +10,8 @@ export class Onboarding extends Component {
   constructor(props) {
     super(props);
 
+    this.recordBillboardConversion();
+
     const url = new URL(window.location);
     const previousLocation = url.searchParams.get('referrer');
 
@@ -59,6 +61,30 @@ export class Onboarding extends Component {
     }
   }
 
+  recordBillboardConversion() {
+    if (!localStorage || !localStorage.getItem('last_interacted_billboard')) {
+      return;
+    }
+    if (localStorage.getItem('last_interacted_billboard')) {
+      const tokenMeta = document.querySelector("meta[name='csrf-token']");
+      const csrfToken = tokenMeta && tokenMeta.getAttribute('content');
+      const dataBody = JSON.parse(
+        localStorage.getItem('last_interacted_billboard'),
+      );
+      dataBody['billboard_event']['category'] = 'signup';
+      window.fetch('/billboard_events', {
+        method: 'POST',
+        headers: {
+          'X-CSRF-Token': csrfToken,
+          'Content-Type': 'application/json',
+        },
+        body: JSON.stringify(dataBody),
+        credentials: 'same-origin',
+      });
+      localStorage.removeItem('last_billboard_click_id');
+    }
+  }
+
   // TODO: Update main element id to enable skip link. See issue #1153.
   render() {
     const { currentSlide } = this.state;
diff --git a/app/javascript/onboarding/__tests__/Onboarding.test.jsx b/app/javascript/onboarding/__tests__/Onboarding.test.jsx
index 042b0bc98..f90e8bc8c 100644
--- a/app/javascript/onboarding/__tests__/Onboarding.test.jsx
+++ b/app/javascript/onboarding/__tests__/Onboarding.test.jsx
@@ -37,6 +37,29 @@ describe('<Onboarding />', () => {
     document.body.setAttribute('data-user', getUserData());
     const csrfToken = 'this-is-a-csrf-token';
     global.getCsrfToken = async () => csrfToken;
+
+    // Mock localStorage
+    const localStorageMock = (function () {
+      let store = {};
+      return {
+        getItem(key) {
+          return store[key] || null;
+        },
+        setItem(key, value) {
+          store[key] = value.toString();
+        },
+        removeItem(key) {
+          delete store[key];
+        },
+        clear() {
+          store = {};
+        },
+      };
+    })();
+
+    Object.defineProperty(window, 'localStorage', {
+      value: localStorageMock,
+    });
   });
 
   it('should have no a11y violations', async () => {
@@ -45,6 +68,39 @@ describe('<Onboarding />', () => {
     expect(results).toHaveNoViolations();
   });
 
+  it('should record billboard conversion correctly', async () => {
+    const fakeBillboardData = {
+      billboard_event: { someData: 'test', category: 'signup' },
+    };
+    window.localStorage.setItem(
+      'last_interacted_billboard',
+      JSON.stringify(fakeBillboardData),
+    );
+
+    fetch.mockResponseOnce(() => Promise.resolve(JSON.stringify({}))); // Mock for the billboard event
+    fetch.mockResponseOnce(() => Promise.resolve(JSON.stringify({}))); // Mock for any subsequent fetch calls, if necessary
+
+    renderOnboarding();
+
+    await waitFor(() => {
+      expect(fetch).toHaveBeenCalledWith(
+        '/billboard_events',
+        expect.objectContaining({
+          method: 'POST',
+          headers: expect.objectContaining({
+            'Content-Type': 'application/json',
+            'X-CSRF-Token': expect.any(String),
+          }),
+          body: JSON.stringify(fakeBillboardData),
+        }),
+      );
+    });
+
+    // Cleanup
+    window.localStorage.clear();
+    fetch.resetMocks();
+  });
+
   it('should render the ProfileForm first', () => {
     const { queryByTestId } = renderOnboarding();
 
diff --git a/app/javascript/packs/billboardAfterRenderActions.js b/app/javascript/packs/billboardAfterRenderActions.js
index de505ddc9..8fe3b08f3 100644
--- a/app/javascript/packs/billboardAfterRenderActions.js
+++ b/app/javascript/packs/billboardAfterRenderActions.js
@@ -43,16 +43,18 @@ export function executeBBScripts(el) {
 }
 
 export function implementSpecialBehavior(element) {
-  if (element.querySelector('.js-billboard') && element.querySelector('.js-billboard').dataset.special === 'delayed') {
-    element.classList.add('hidden');    
+  if (
+    element.querySelector('.js-billboard') &&
+    element.querySelector('.js-billboard').dataset.special === 'delayed'
+  ) {
+    element.classList.add('hidden');
     const observerOptions = {
       root: null,
       rootMargin: '-150px',
-      threshold: 0.2
+      threshold: 0.2,
     };
-    
+
     const observer = new IntersectionObserver(showDelayed, observerOptions);
-    
     const target = document.getElementById('new_comment');
     observer.observe(target);    
   }
@@ -87,7 +89,7 @@ export function observeBillboards() {
 }
 
 function showDelayed(entries) {
-  entries.forEach(entry => {
+  entries.forEach((entry) => {
     if (entry.isIntersecting) {
       // The target element has come into the viewport
       // Place the behavior you want to trigger here
@@ -161,6 +163,10 @@ function trackAdClick(adBox, event) {
     },
   };
 
+  if (localStorage) {
+    localStorage.setItem('last_interacted_billboard', JSON.stringify(dataBody));
+  }
+
   window.fetch('/billboard_events', {
     method: 'POST',
     headers: {
diff --git a/app/models/billboard_event.rb b/app/models/billboard_event.rb
index 234713ce6..286930c5d 100644
--- a/app/models/billboard_event.rb
+++ b/app/models/billboard_event.rb
@@ -7,13 +7,17 @@ class BillboardEvent < ApplicationRecord
   # We also have an article_id param, but not belongs_to because it is not indexed and not designed to be
   # consistently referenced within the application.
 
+  validate :unique_on_user_if_signup_conversion, on: :create
+  validate :only_recent_registrations, on: :create
+
   self.table_name = "display_ad_events"
 
   alias_attribute :billboard_id, :display_ad_id
 
   CATEGORY_IMPRESSION = "impression".freeze
   CATEGORY_CLICK = "click".freeze
-  VALID_CATEGORIES = [CATEGORY_CLICK, CATEGORY_IMPRESSION].freeze
+  CATEGORY_SIGNUP = "signup".freeze
+  VALID_CATEGORIES = [CATEGORY_CLICK, CATEGORY_IMPRESSION, CATEGORY_SIGNUP].freeze
 
   CONTEXT_TYPE_HOME = "home".freeze
   CONTEXT_TYPE_ARTICLE = "article".freeze
@@ -24,4 +28,19 @@ class BillboardEvent < ApplicationRecord
 
   scope :impressions, -> { where(category: CATEGORY_IMPRESSION) }
   scope :clicks, -> { where(category: CATEGORY_CLICK) }
+  scope :signups, -> { where(category: CATEGORY_SIGNUP) }
+
+  def unique_on_user_if_signup_conversion
+    return unless category == CATEGORY_SIGNUP && user_id.present?
+    return unless self.class.exists?(user_id: user_id, category: CATEGORY_SIGNUP)
+
+    errors.add(:user_id, "has already converted a signup")
+  end
+
+  def only_recent_registrations
+    return unless category == CATEGORY_SIGNUP && user_id.present?
+    return unless user.registered_at < 1.day.ago
+
+    errors.add(:user_id, "is not a recent registration")
+  end
 end
diff --git a/spec/models/billboard_event_spec.rb b/spec/models/billboard_event_spec.rb
index f390ce6ac..a19eb6ecb 100644
--- a/spec/models/billboard_event_spec.rb
+++ b/spec/models/billboard_event_spec.rb
@@ -4,4 +4,37 @@ RSpec.describe BillboardEvent do
   it { is_expected.to validate_inclusion_of(:category).in_array(described_class::VALID_CATEGORIES) }
 
   it { is_expected.to validate_inclusion_of(:context_type).in_array(described_class::VALID_CONTEXT_TYPES) }
+
+  describe "#unique_on_user_if_signup_conversion" do
+    let(:user) { create(:user) }
+    let(:billboard_event) { build(:billboard_event, category: "signup", user: user) }
+
+    it "adds an error if user has already converted a signup" do
+      create(:billboard_event, category: "signup", user: user)
+      billboard_event.valid?
+      expect(billboard_event.errors[:user_id]).to include("has already converted a signup")
+    end
+
+    it "does not add an error if not a signup" do
+      billboard_event.category = "click"
+      billboard_event.valid?
+      expect(billboard_event.errors[:user_id]).to be_empty
+    end
+  end
+
+  describe "#only_recent_registrations" do
+    let(:user) { create(:user, registered_at: 2.days.ago) }
+    let(:billboard_event) { build(:billboard_event, category: "signup", user: user) }
+
+    it "adds an error if user is not a recent registration" do
+      billboard_event.valid?
+      expect(billboard_event.errors[:user_id]).to include("is not a recent registration")
+    end
+
+    it "does not add an error if user is a recent registration" do
+      user.update(registered_at: 23.hours.ago)
+      billboard_event.valid?
+      expect(billboard_event.errors[:user_id]).to be_empty
+    end
+  end
 end
diff --git a/spec/requests/billboard_events_spec.rb b/spec/requests/billboard_events_spec.rb
index 3affbc0c4..dced57cdf 100644
--- a/spec/requests/billboard_events_spec.rb
+++ b/spec/requests/billboard_events_spec.rb
@@ -57,6 +57,22 @@ RSpec.describe "BillboardEvents" do
         expect(billboard.reload.success_rate).to eq(0.25)
       end
 
+      it "accounts for signups in the success rate" do
+        ad_event_params = { billboard_id: billboard.id, context_type: BillboardEvent::CONTEXT_TYPE_HOME }
+        impression_params = ad_event_params.merge(category: BillboardEvent::CATEGORY_IMPRESSION, user: user)
+        click_params = ad_event_params.merge(category: BillboardEvent::CATEGORY_CLICK, user: user)
+        create_list(:billboard_event, 3, click_params)
+        create_list(:billboard_event, 4, impression_params)
+
+        post(
+          "/billboard_events",
+          params: { billboard_event: ad_event_params.merge(category: BillboardEvent::CATEGORY_SIGNUP) },
+        )
+
+        # 13 / 4 = 3.25 because 3 clicks + (1 signup * 10) / 4 impressions
+        expect(billboard.reload.success_rate).to eq(3.25)
+      end
+
       it "assigns event to current user" do
         post "/billboard_events", params: {
           billboard_event: {