Micro-Conversions: What Are They & What You Should Measure
Just stumbled upon a great post which speaks about micro-conversions. These “conversions” are typically actions visitors on your site can take which allow you to build connections with them. Instead of just tracking a Purchase or a Lead Form Completion – here are 5 micro-conversions that you should start measuring:
Top 5 Micro-Conversions You Should Measure
1. Downloading Files
Whether you serve white papers in PDF format, client forms that need to be filled out before an in-person meeting or office visit, or you have a software demo available for download, file downloads are a micro-conversion that must be measured. This is typically done by event tracking or through “virtual” pageviews.Its important to track downloads because they indicate interest from a potential future customer. If theyre forms the customer has to fill out and bring in, it saves time in the office, allowing your employees to get back to work faster. If its a demo, theres probably a likelihood that that would-be customer will convert. If you have a brochure, the cost of printing and mailing to a would-be customer is the amount of money you have just saved. Calculate that times every download.
2. Joining a Mailing List
Have you ever purchased a mailing list? Depending on the nature of the list, you might pay anywhere from 2-10 cents per lead. Some leads might even be as high as several dollars. Rarely are the lists 100 percent accurate. Often youre buying a category of email addresses, not necessarily individuals who are interested in your service.Conversely, visitors who offer their email address to subscribe to your free newsletter are 100 percent interested and already pre-qualified as a potential customer. Measure this form as a micro-conversion. Apply a value equal to whatever you paid per working email address from the last list you purchased.
3. Visitors Who Create a Forum Account
Do you offer online support forums where customers and employees can offer help to other customers or potential customers? Each person who creates a new account is a potential advocate for your brand. Further still, they might be one step closer to a service contract with your organization.Most free or open-source software organizations cover costs by soliciting donations and by offering commercial support. Piwik, the free web analytics software, offers free forums for question and answer about their product. In their analytics demo, they choose to apply a value of $3 for each user that creates a forum account when tracking this goal.
4. Add to Cart / Wish List
Even though a visitor might not complete a transaction, adding items to a cart or a wish list is a great indication of interest in purchasing a product from your site. Naturally, not everyone who adds an item to one of these lists will convert.A good rule of thumb is calculate the percentage of those who use wish lists or carts and come back to complete a transaction at a later date. Use that percentage times the value of the cart or wish list as a potential value. If the visitor also had to create a new account on your site to utilize the wish list or cart, the likelihood they come back to purchase is higher.
5. Human Resources Micro-Conversions
Sometimes people visit your site only to look for a job. Measure the number of job application form submissions.These people were on your site to make a purchase or become a new sales lead to track. They should not be counted against your total goal conversion rate. They can, however, have a dollar value applied.Having a job application submitted online saves an HR employees time times his or her hourly rate and may even save the cost of an online listing with a national or regional employment site.
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