The Sweeter Side of M and M Conversion Rates
“Oh, I love M&M® candies, I would rate the Crispy ones #1!”
*Ahem* Ok, yes, well that’s nice but I’m referring to Macro and Micro Conversions. The rates of Macro & Micro conversions are important metrics that allow marketing professionals to track the most effective online marketing processes.
Every business model is in place to cause a certain action or to create a desired result. Whether it’s to supply a consumer with a product or service or to merely influence an audience, every process has a specific function.
When measuring the effectiveness of a business website, Conversion Rates help pinpoint which functions are being met by which processes.
“Ok Hot Shot, define them!”
A Macro Conversion occurs when the main engagement purpose of the website is carried out. In other words, what your website exists to accomplish in the first place. For example, if you use the site to sell products (e-commerce or cyber shopping), then your macro conversions are any sales transactions completed.
This makes your Micro Conversions the preliminary actions that lead up to those wonderful macro conversions. If buying an annual subscription to your online magazine is your Macro Conversion, then a reader giving their email address for a free downloadable copy to try out would be a Micro Conversion.
Google Analytics tracks both Macro and Micro conversions with the proper segmentation, filtering and account setup!
Measuring M&M Metrics
I’m what Wilhelm Wundt & his buddies might call a ‘Big Picture’ person. Once the big picture is established, all of its pieces begin to fall into place; becoming a clear work of art! So I look at Performance Indicators as being only as good as the processes used to reach them.
Conversion Rate is the percentage of traffic (visits) your website sees that results in a conversion.
# of completed desired actions / # of visits = Conversion Rate
Even though Key Performance Indicators (KPIs) are the most important business metrics, every operational structure consists of smaller performance measurements as well. Your conversion rate, specifically when accounting for Macro conversions, should be one of your KPIs if your website is an integral part of achieving your core Business Objectives. TYPICALLY, YOUR WEBSITE WILL HAVE MORE THAN ONE CONVERSION RATE.
Remember, when running a company, there is no one straight, tunnel-like path to achieving your set goals. Each function has its own performance metrics that contribute to overall success.
Be sure to define, understand and assess your Macro & Micro Conversions for a more comprehensive analysis of your website for business.
