What are Micro-Conversions, and How to Use Them to Increase Sales?
The term “micro-conversions” is used frequently in the business world in association with marketing and sales. In today’s digital world, they are a vital tool to measure and enhance customer journeys. They can help you create optimized conversion strategies and boost your sales numbers. But, what are they? How can you use them to increase sales? Let’s find out.
What is a micro-conversion?
As the name suggests, micro-conversion is a user’s action that’s a crucial step to a “macro-conversion” like purchase. In simpler terms, micro-conversions are small steps a visitor takes in your website that indicate they will convert to an active customer. They’re the mandatory actions anyone should do to complete a purchase on your website. Though they’re not a solid indicator of your site’s conversion rate, micro-conversions mark the effectiveness of your sales funnels.
Examples of micro-conversions
Anything you do between visiting the site and making a purchase on the website can be called a micro-conversion. Viewing product pages, adding products to shopping cart, viewing shipping terms, entering any data for placing an order are all examples. In general, micro-conversions can be divided into three depending on the context of the action.
2. Time-based micro-conversions depend on how long a visitor stays on your site. The time a potential buyer spends watching a video on your website or browsing your products are examples of such conversions.
3. Action-based micro-conversions are the best ways to know how effective your marketing strategies are working. Visitors signing up for programs, contacting customer support, redeeming coupons etc., are typical examples of action-based micro-conversions.
Why are micro-conversions important?
How can you improve sales using micro-conversions?
Now that you know what micro-conversions are, the next question is, how you can use them to your advantage. Here is a step-by-step guide to increasing sales by using them.
Step 1: Define your goals
The first step to any strategy is to create and outline your end goals. What do you aim to achieve with micro-conversions? Do you want to learn which channel contribute most to conversions? Do you want to know which products facilitate maximum repeat purchases? Is your goal to decrease the cart abandonment rate?
Step 2: Determine your KPI and the customer journey to achieve it
Key performance indicators (KPI) are the measurable values that indicate your progress towards a set of objectives. Before planning on what you should do, you should define what your KPIs are. Then, analyse the traffic patterns in your website and learn how customer journeys should take place to achieve them.
Step 3: Spot the top steps in your conversion process
For every customer journey, there will be critical steps that lead to conversion. Figure out which steps, both pre-purchase steps and post-purchase steps, have the highest engagements.
Step 4: Assign user IDs
Increasing conversions need a comprehensive understanding of your customers. Without tracking customers and learning about customer behaviours, you won’t get accurate values of your KPIs. Therefore, creating unique user IDs to track each customer is a crucial step.
Step 5: Analyse your micro-conversions and create behavioural segments
Track each micro-conversion using tools like Google Analytics. Using the data you obtain by observing micro-conversions, create customer segments. Divide and conquer is the motto you can use to build efficient marketing strategies. Separate your customers into groups based on their needs and develop programs that will meet those.
Step 6: Implement customisation features
The true power of micro-conversions lies in the personalisation possibilities. By appealing to each customer’s unique needs, you’ll achieve better conversion rates and higher sales. Custom recommendations, tasteful pop-ups and timely offers will have a positive impact on your sales.
Conversion: The process through which a website visitor becomes a customer is called a conversion.
Sales funnel: The step-by-step journey a customer takes to purchase a product is called the sales funnel.