Micro Conversions – How to Use Hidden Metrics to Drive Major Gains
Tracking micro conversions is increasingly common among data-driven businesses but it’s still an area that is ignored by many. Let’s jump into how tracking micro conversions, mapping them to macro conversions, and using micro conversions for segmentation and personalization will help you beat the competition.
What is a Micro Conversion
Micro conversions vary by the business and ultimately, which actions are driving dollar driving activities. Some micro conversions that are commonly used include –
- Email or SMS Sign-Up
- Add To Cart
- Wish List Addition
- Watched a Video
- Social Share
- Viewed a Case Study
Anything that can be tagged and tracked can be a micro conversion if the business finds it drives value. Start small and work your way up to more advanced activities so it isn’t so overwhelming.
Why Monitor Micro Conversions
Micro conversion data can be used for many things from UX to advertising as well as helping to nurture users through the customer journey. Here are some great ways you can use micro conversions –
- Understanding user intent and engagement with micro conversions allows smart marketers to learn more about what resonates with viewers. Engagement with high value micro conversions, like “Add To Cart” will allow you to create segments for remarketing, nurture campaigns, or to feed back to Google Ads for highly focused targeting
- User journeys can be optimized more easily with micro conversions. If you see one form converting at 15% and another at 5%, you can monitor traffic sources and test into short forms or try to replicate success points
- Monitoring action from specific ads or tracking activity on product pages, case studies, and video watch length will give you great insight into what interests your viewers so you can create more content that resonates
- Ad Segments & Personalization are one of the best ways to use micro conversions. Tag every user who visited a product page, clicked “Add To Cart” but didn’t complete the purchase. Use this segment with ads explaining product details, important features, and price points that will bring the customer back to purchase
How to Map Micro Conversions Back to Macro Conversions
A full funnel approach allows you to drive customer journey both on your site and through advertising campaigns. For instance, for an ecommerce company, you might have the following funnel –
- Product View (top of funnel)
- Add to Cart (mid funnel)
- Starts Checkout (lower funnel)
- Order (macro conversion)
Analyze this funnel to find where users drop off so you can start testing optimizations. For instance, if you analyze the funnel, and see that a product video view has a significantly higher conversion rate, you can move budget and creative towards encouraging video views.
Create micro conversion specific campaigns targeting each area in the funnel you’ve identified and use your segments to continue moving users through the funnel.
Micro Conversion Campaigns
Tracking micro conversions are a critical part of running highly effective campaigns that optimize the customer journey and drive down acquisition costs across the entire funnel. Start tracking micro conversions today and start with a small campaign to see how effective your marketing dollars can be.