You know you need to be tracking visitors and getting them into your funnel, but which conversions have the most punch? Micro vs Macro? We’ve got the inside scoop.
Collecting data about your buyers and prospects is critical to the success of your marketing campaigns. And thanks to the digital era we now live in, gathering data is no longer an issue.
In fact, analyzing it all and knowing what to do with it is where most businesses fall flat. While we’re not going to go into big data and the analytics behind it, we are going to focus on micro vs macro conversions.
If you’ve heard the term micro conversion and would like to know more about it, then this article is for you. We’re going to discuss what micro and macro conversions are and how to use them for your campaign.
So let’s get started!
What Are Macro Conversions?
It’s very common for companies to set macro conversion goals for their online campaigns. You can consider this the main goal of your website. For instance, to convert visitors into buyers — to make the sale.
For other sites, it may be to get leads to sign up for their email newsletter or to request a quote on the site’s form.
Either way, the end goal is to boost the profits of the organization (short-term or long-term).
What Are Micro Conversions?
On the other hand, we have micro conversions, which are divided into two categories — process milestones and secondary actions.
Process milestones are the steps your visitors take towards the main goal (macro conversion). For instance, a visitor may look at your products and add one or two to their wish list before making a purchase.
Secondary actions don’t necessarily lead to a conversion, however, it does show engagement and interest.
There are several examples of micro conversions:
- Video views
- Social media shares
- Products added to cart
- Product views
- Viewing a certain number of pages
- Downloading ebooks
- Blog comments
Definitely keep an eye on all the metrics you can to see how your visitors or moving through the buyer’s journey.
Micro vs Macro Conversions: Which to Track?
The obvious answer is to track both. The more you know about your visitors and their buyer journey, the better. You need to see how your customers are moving along the funnel to the final purchase.
This can help you make adjustments to your website, content, and ads. But we’ll say that micro conversions are a must for tracking and improving your campaigns.
The biggest reason why businesses should track them is that most customers don’t make a purchase or even sign up for their first visit. This means you’re missing all sorts of other conversions and actions that may be occurring elsewhere on your site.
For instance, if you’re capturing leads with an email campaign and see folks are signing up there, then this micro conversion places your prospects a step closer to buying a product or service.
If you’re only looking at macro conversion rates, then you’re not seeing the value of all the other visitors your site receives. Keep in mind that most consumers visit a site multiple times before making a final decision.
During these visits, they may view your product pages, favorite a couple of them, and sign up for your email newsletter. This all shows intent to purchase, which shouldn’t be overlooked.
All engagement is good engagement in this case and if you’re watching close enough, you can see how you can improve your micro conversion rates. For instance, you can place your newsletter sign up form closer to the top of the page. Or publish more content on your blog that your audience enjoys and shares.
B2B Companies Should Track Micro Conversions Too
It’s not just retailers that can benefit from tracking micro conversions — B2B brands can too. It’s the ideal way to keep track of your customer journeys. And this is important because most businesses undergo a more comprehensive journey than consumers.
They need a lot of information and discussion before they make the commitment to purchase. In this case, you want to have articles on your site that answer the questions your customers have at every stage of the marketing funnel.
It would also help to offer a more comprehensive e-book they can download in exchange for their email. Some sites go as far as to ask for a company name, position in the company, and so on. This data can help you identify your visitors and their intent so you can update your buyer personas.
How to Track Micro Conversions
Now, there are a number of ways you can keep track of micro conversion rates. It will also depend on the type of site you have and your business goals.
For instance, you can use Google Analytics to set up goals for your micro conversions, such as email signups. You’re also able to set a value for each email address (if you have an idea of how many subscribers it takes to get one conversion).
An example would be, if you get 5% of subscribers to buy a $100 worth of products/services, then each email signup is worth $5.
Google Analytics will then provide you with reports you can view to see how well your micro conversions are doing. You’ll be able to see how many micro conversions occur across the entire site.
Measure Macro Conversions Alongside Micro Conversions
Make sure you’re keeping track of both forms of conversions. This will give you a more complete picture of how your site is doing and what visitors do once they arrive.
Who knows, you may see something you didn’t expect that can improve your conversions. For instance, if you’re keeping track of how many items are added to carts and you have the percentage of products added to carts that result in a sale, then you’ll be able to see trend shifts that are due to a problem in your purchase funnel.
Need Help with Your Campaigns?
It’s always great having an expert on your team that can help with your digital marketing campaigns. At Lakefront PPC, we can help create and manage your pay-per-click campaigns.
Our experts will analyze the performance of your ads and tweak them as necessary to improve conversion rates. We know all about micro vs macro conversions and can help you make improvements as needed.
Contact us today to see how we can help boost your conversion rates!