#2 List Down All Your Macro & Micro Conversions That Bring You $$$
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Ideal conversion rate of your digital channels, to quote Wordstream, is
the highest possible percentage of visitors to your site to complete your desired action.
However, it is not new and most of the startups have heard about them anyway so what’s the fuss?
Most of startups focus only on the final (macro) conversion: a purchase or a form submission, forgetting the building blocks of the funnel (micro conversions) that ultimately lead to the success of your business — your macro conversions.
Identifying micro & macro conversions = identifying KPIs.
The success of a CRO program rests on how well you define your micro and macro goals,
as VWO aptly puts it. Work on them before starting brainstorming on your website improvement strategies.
What conversion means to your business?
Focus on the main conversion funnel: how do you earn money? And how does the website help you to accomplish it? Think of all the steps that lead to it.
Macro conversions are the main purpose / end-goal of your website. How does the website help you to achieve your business goal?
Micro conversions indicate a clear intent or interest from the customer viewpoint. What steps the customers take to get to the macro conversion? How do they engage with you?
Micro conversions are awesome as they will help you assess the friction points in your buyer’s journey and focus your improvement & A/B testing efforts for max results!
Along with providing a complete view of your buyer’s journey, tracking micro conversions also helps identify drop-offs on the conversion funnel. For example, on an eCommerce website, users frequently visiting the product page but not adding products to cart implies something is putting off the visitors for moving from “product” to “add-to-cart.” Optimizing the micro goal here, which is increasing “add-to-cart” actions, will ultimately result in increased revenue. (via VWO)
Map them out
Your next task is to map micro and macro conversions out.
Having clearly defined steps is 1st step to build your KPI funnel analytics spreadsheet we will discuss in the next growth bite. Also, you will be able to concentrate your optimizing efforts on the micro conversions that impact your end-goal results, and not be scattered all over the place.
Example macro and micro conversions
Here’re 6 example funnels with corresponding macro and micro conversions to get you started.
What is your business model: do people pay right away? Or you operate on “free with paid add-ons”? Or are you sponsored by advertising? Finally, your website’s sole purpose might be the lead generation where contacts are passed to and converted by the sales team.
What are your macro and micro conversions?
Did you execute the tip? Good job 👊
Keep it up and Tweet the daily tip with “I did it #100growthdays 👊”!
More Pineapple a Day growth bites on Conversions & CRO:
Also read this VWO blog post, explaining micro and macro conversions in detail.
