Micro conversion, whilst sounding complex, is actually a common sense term. You may be familiar with them in Google analytics as “goal filters”. Micro conversions are small (micro) conversions or steps leading to a larger conversion.
That larger conversion never happens by itself. It has to be aided and influenced: key events drive the customer into getting them to the tipping point.
Data’s role in micro conversion
While your lovingly-written marketing or website messaging forms part of the process, the data from micro conversions will help you understand how it arose. With a good supply of micro conversion data, some handy technology for reacting to the data, and robust applied thinking, then, you can quickly understand your customer to help them with the decision-making process.
Measuring micro conversion will therefore help you optimise your overall conversion; the macro conversion can be seen as the Purchase itself.
Micro Conversion Data predicts increases e-commerce revenue
It’s fair to say you’re probably already making use of micro conversion data, even if you’re not yet understanding where to intervene if at all. In the world of e-commerce, micro conversions are recognisable through familiar statistics like video engagements, specific (important) page views and site duration. These are all arguably micro conversions, as they contribute to the increasing desire to accomplish the task (whatever that task is).
Probably the most important thing an e-commerce manager can do is identify what micro conversions predict overall conversions.
To summarise, micro conversion is not a new concept in the pursuit of greater revenue and life time value. It is simply a convenient term describing an understanding of your own customer journey, and knowing which parts are the most important (or – indeed – the weakest) in making the customer do what you want to. Making sense of micro conversion in eCommerce will therefore make you a hero in the marketing team as much as the finance team.
Livestream shopping is the ultimate micro conversion
The use of video is a strong micro converter. If you find that shoppers are three times more likely to purchase if they view an explainer video, you have a micro conversion right there. The next most logical thing to do might be:
- Make that video more prominent
- Make more videos and spread them through key (relevant) parts of the customer journey
- Expand your outbound marketing to external video platforms like YouTube and facebook
- Consider live stream video – a rich, live interactive experience that has the greatest potential to match shopper needs
And so, the desire to make them behave in the way you want is increased. This is what a good retail expert in a shop would do having seen a customer examining stock over and over, so why wouldn’t you apply this to e-commerce?
Confer With has been built with the micro conversion in mind
The Confer With platform is not simply branded facetime for retail. It has been built with conversion in mind. Every step on the customer journey in Confer With is a micro conversion, which builds up to to the ultimate desired behaviour – a purchase. Using the same predictive techniques that a ecommerce manager or a marketer uses to identify important events, you can build up the ideal match, engagement, immersion and closing techniques to drive incremental revenue, lifetime value and customer satisfaction.
As a result – you have a powerful platform that can, over time, predict conversion – particularly of customers who wouldn’t normally purchase online. All you need to do is execute a fantastic visual merchandising plan, ensuring key actions are executed early on in the journey.
Talk to us about how you can predict conversion using the Confer With platform.