Measuring Micro Conversions
In this webinar, we have Analytic Ninja‘s Yehoshua Coren discuss about analytics strategies to improve conversion with Google Analytics as the main web tool. For the full presentation, you can watch it here. Last article, we talked about traffic source optimization through the use of Google Analytics. We also had a brief discussion about a strategic approach based on Avinash Kaushik’s ABO Framework. In connection with the previous topic, Yehoshua Coren also discussed the importance of measuring the value of micro conversions.
Economic Value of Micro Conversion
Macro conversions are e-commerce situation. It is what we see on the receipt page. Usually, once this is completed we think about three things. These are:
- Purpose of Value
- Return on Ad Spends
[Tweet “micro conversions represents the economic value of your company; whether it’s a call, adding to a cart, newsletter sign up, or social sharing”]
There is a process people go through before making purchase decisions. Know that people will keep coming back to your site because not everything will happen in just a single visit to your website. Before choosing services, they tend to look at the other sides of your site first.
Setting Up your Conversion Tools
These interactions are what we call in Google Analytics as engagement metrics. Engagement is a very loose term that some use to mean as “interactions with the brand”. This was taken from Jennita’s article in Moz.com entitled
Social Engagement Metrics That Matter – Measuring, Tracking, and Reporting FTW. You can see in her article how they actually measure, track and report the data they have to help meet their set goals. The article also mentions:
Since social media is pretty top-of-the-funnel, you’ll often have goals around increasing engagement and traffic to your site, or growing community and improving customer service, and not as much around increasing sales or subscriber numbers.
But where and how do we find the proper tools to achieve your goals? This is where Google Analytics comes in.In terms of improving landing page relevance, Coren said that we should use a custom report in Google Analytics based on the ABO framework of Avinash Kaushnik. In this report, you must take note on how you setup the page depth and time cycles. What you should be thinking about is viewing this as a stepping stone to visitor frequency. Your objective here is to make people come back. In the webinar, Coren showed us some visual examples as to how he set-ups the page depth and frequency in Google Analytics.
Google Analytics also now offers multi-channel funnel reports which provides deeper insights on whether users convert and return later. What’s great about this is it allows you to include all the different touches like organic search, pin search, social media search and all the different searches that will lead up to conversion. This has a huge part in traffic optimization. It allows you to improve your traffic from different channels. There are also a lot of new features in Google Analytics that you need to check on so you can understand how to use it specifically for your website.
Measure and Validate your Conversions
Take note. When identifying, creating and setting up goals in Google Analytics, make sure you measure those micro conversions. Even those steps along the funnel and other important touch points that users will have. Those add economic values to your business and measuring them is of utmost importance. To understand more about the topic, you can watch the full webinar here.