In order to be able to optimize any business, it is essential to identify key performance indicators (KPIs). This step is of great importance for better conversion rate optimization in any business. Measuring and tracking the performance of such KPIs can help in building the business.
Micro and Macro—Two Major KPIs
The performance indicators for any website can be divided into basic categories—macro and micro conversions.
- Macro conversions deal with the basic goals of any website. Examples include e-commerce, SaaS, an online enterprise such as revenue, request a quote, contact us, and free-trial.
- Micro conversions are milestones or steps that help the visitors in reaching the end goal. The major example of micro-conversion includes downloads, email clicks, blog subscriptions, and other such steps.
What is the importance of Micro Conversions
While it is quite understandable while developing macro conversion is of high importance for improving the growth of an enterprise but micro conversions are not less important in any way either. They are the reason behind the better usability of a website. Therefore, while it is essential to track and measure the macro conversions, micro conversions are of equal importance since they determine the optimal working of any website.
Two major Reasons why Tracking Micro Conversion is necessary
Although there are several reasons why tracking micro conversion is a great idea, there are two major reasons determining their importance. These are:
- Keeping a track of micro-conversions helps the website owner in assessing the readiness and intent of a buyer.
- Identifying and measuring the micro-conversions allows the website owner to identify the points of hindrances in the buyer’s journey.
Micro conversions let you know if the potential client is really interested in your product or not. For example, if they download a product such as a video or a brochure, chances of their conversion are great. As such, micro conversions indicate the chances of macro conversion in the future.