Whether it’s through micro or macro-conversions, be sure you’re business is continuously increasing it’s ROI by working with a video production company.
It’s natural for businesses to focus on things like product purchases. Yet these “big conversions” only paint part of the overall picture. If you’re looking to better understand your audience, it’s also important to focus on micro-conversions — and a top digital marketing agency or video production company can play a critical role in this process.
Let’s take a closer look at how macro and micro conversions differ, and how brands can optimize the latter to improve the former.
Macro and micro-conversions explained
Macro conversions (such as sales and signups) are generally supported by a series of smaller actions and milestones. These complementary actions are called micro conversions, and often play an equally important part of the overall process.
Some of the most common forms of micro-conversions include:
- Video views
- Comments left on blogs, webpages etc.
- Adding products to a cart
- Page views
- Shared social media content
These micro-conversions are key benchmarks in the overall conversion process as they provide a window into consumer interactions within your marketing framework. If consumers have positive micro events, they are more likely to continue along the path toward a macro conversion. A negative interaction, however, can derail the process completely.
The importance of micro-conversions means that it is critical for brands to pursue optimization. Consumer pain points should be addressed and user experience should be prioritized in order to help ensure a macro conversion.
Some of the micro-conversion optimization techniques that brands should consider pursuing include:
Simple to use Web forms that are intuitive and allow users to save progress
Nothing irks consumers more than having to fill out forms multiple times, so it’s essential to give them the ability to return to a form at their convenience.
E-books, white papers, and other downloadable lead magnets
While these require significant resources to create, they can be an invaluable tool for generating new business.
Today’s consumers immediately turn to reviews generated by their peers to ascertain the quality of a product or service. Strong reviews offer a powerful nudge toward a macro conversion.
Short explainer videos
Nothing converts like video – 52% of marketers say it has the best ROI of any medium. Short, well-executed videos do a great job of explaining your product or service. Additionally, research shows that online shoppers are twice as likely to buy if they watch a product video. Work with a video production company to focus on live streaming, video reviews, and influencer’s videos to help you increase conversions.
The value of tracking
Most micro-conversions don’t lead to a macro-conversion (the average macro conversion rate is around 4%). Yet sales and other macro events aren’t alone in providing value. Someone reading a blog post may not go on to make an immediate purchase, but that micro event raises brand awareness.
Micro-conversions also offer revealing, actionable data that brands can use to optimize their processes. One of the easiest ways to evaluate your micro conversions is through Google Analytics, which offers some fairly sophisticated tracking tools. Event tracking codes are available for virtually every popular micro-conversion tactic.
Brands that make an effort to leverage and track micro-conversions will earn a significant competitive edge, as they gain deeper insight into the buyer’s journey and can optimize their overall conversion framework.
Our experts can assist businesses with understanding and exploiting the power of micro-conversions. If you need assistance from a video production company with content creation or any other strategy, we urge you to contact us today.