What are Micro Conversions and Why You Should Track Them
Nothing matters more to a business than conversion. But do you know, conversions can be divided into micro and macro conversions?
Micro conversion includes a set of actions on your website which count as a progressive step towards final conversion. For instance, if online purchase through shopping cart is the ultimate goal of your business, then someone adding your product to the cart will be counted as a micro-conversion.
Any action that indicates a user is on the path to revenue-generating conversions count as micro-conversion. Depending on your business type, micro conversion can be any of the following:
· Signing up for a newsletter
· Downloading an e-book or a brochure
· Spending time on the website
· Re-visiting the site
· Following your brand on social media
· Getting RSS subscription
· Clicking on the CTA button to get a call back/ request a quote/ book demo
· Viewing product pages
· Visiting the checkout page
· Adding a product to the cart
· Commenting on an article/ sharing an article
· Watching a video
There are many other micro-conversions to track, which are directly or indirectly related to the final goal of your business. Actions like viewing product pages, time spent on web pages and adding product to the cart are process milestones. These represent linear movement towards the primary goal of your site. On the contrary, downloading an e-book, signing up for a newsletter and following your brand on social media are the indicators of potential conversions in the future.
Why You Should Worry About Micro Conversions
Micro conversions are those micro actions, which if utilized properly can help keep the momentum high throughout the sales channel. By tracking micro conversions, you will get answer to questions like these and many more:
Which product pages are viewed the most?
What’s the response of visitors to ‘Call to Action’ button on the site?
Visitors are less likely to make a purchase on any website on their first visit. Conversion happens as a result of several small activities that propel a lead to successful purchase. Different micro conversion points come in between, leading to successful sales. Take those points of micro conversion as a cue to:
1. Understand the Behavior of Visitors
People can come to your website for a number of reasons - For checking the price, to know more about any particular product, book a demo, ask for a quote or to make the purchase. Through micro conversions, you can analyse the major reasons why visitors come to your site and handle them accordingly. Understanding visitor behavior can help marketers run targeted campaigns that drive visitors through the sales funnel.
2. Work Towards Conversion Optimization
Once you know why visitors come to your website, you can take concrete steps towards optimizing related areas.
Take Joybird for example. They analysed that the visitor on their website checked price and browsed through different product pages, but didn’t proceed to the checkout page. So, to drive the traffic through product pages to the checkout page, they came up with the pop-up for sale.
3. Nurture Your Leads Successfully
Once you are done with segmenting visitors on your website and initiated targeted communications, the next step is to nurture those leads into sales.
In the above example, NatureBox nurtured its leads by giving a discount code on the Thank You page. People who signed up for the contest were already interested in their offerings, and the discount helps in giving that extra push for conversion.
4. Make Communication More Effective
Another effective way to nurture your leads is to communicate with them in a personalized manner and address their pain points. By tracking micro conversions, you can figure out the communication channels through which you are getting the maximum response.
For instance, if your audience is more active on Instagram, you should focus on making your communication more effective on this channel. You can also find out through micro conversions, posts which generate maximum response from your followers.
Companies get an opportunity to gain valuable insights into which micro-conversion points on your website are propelling visitors through the sales funnel, and the areas where engagement is lacking. Accordingly, you can analyse the reasons why you are losing potential customers and take steps for improvement. To increase revenue through your website, you need to define the path to macro conversion and optimize process milestones.