Most online businesses have several conversion rates. On most occasions there are several steps from getting a visitor to click from a email, search engine result, PPC ad, Banner Ad or link to ultimately making the decision to buy your products or services, subscribe to your site, or whatever your end goal is.
In fact every step that brings a prospect one step closer to being a customer is a micro-conversion and looking at each of these micro-conversions is more important than your overall conversion rate. The reason for this is it gives insight into what part of your process is working and where the process stalls.
So what are some of these micro-conversions?
If you look at using an eDM (email campaign) you have the following conversion rates
The percentage of emails that were open as a percentage of the emails sent.
This is typically 25% – 40% for most campaigns and is effected by the frequency at which your emails are sent, the quality of your database and the subject of the email.
If you send emails at to high a frequency people won’t keep opening them, if you send them at to low a frequency people will forget you are.
If you have a large but poor quality database, many of the people won’t be in your target market and won’t be interested in your message.
If you don’t have a captivating subject relevant to your market, people won’t be interested in what you have to say.
The percentage of emails where the call to action was clicked on as a percentage of the emails opened.
This can be any percentage and is affected by the message in the email. The more target, captivating and benefits driven this content is, the more people will follow your call to action.
Landing Page Conversion
Once someone clicks through on your call to action they will arrive at a page on your website. More often than not this should be a landing page with specific content following on from the email, not the home page of your website. From this landing page people should have only a couple of options.
Option 1 – take the desired step, be that adding a product to a shopping cart, subscribing to a service, making an enquiry to a sales person, making a phone call.
Option 2 – opting in for further information. If we can’t get them to buy we don’t want to loose them altogether. This could be a newsletter signup, free e-book, obligation free quote or anything that engages the prospect.
In the case of product based eCommerce websites, it’s also important to monitor the how many of the people who have added a product to a shopping cart, actually make it through to checkout. This can give valuable insight into possible problems in the check-out process, that the freight was a lot more than people were expecting or that there was not enough information on delivery times or stock on hand.
Try to identify all of the different micro-conversion in your online sales process, work out how to measure them and then work out what insight the give you.