There are two types of main conversions in marketing both are key to business success as the first influences the seconds. Are you worrying too much about getting the sale that you fail to do the things necessary to ensure the sale?
Micro vs Macro Conversions Defined
Macro conversions: Sale, Customer Foot Traffic, Sales Lead / Inquiry, Call, Etc.
Micro conversions: Email List Sign up, Form fill, Chat Conversation, E-book download.
The first type of conversion is something that directly leads to business revenue or that will quickly lead to revenue. This is what most business owners focus on forgetting quickly the value of Micro Conversions. Although an email list addition may not immediately lead to a sale is a key component of beginning the conversation with your new potential clients. Form fills which can be turned into leads are also key to keeping your sales pipeline full. Direct engagement through a chat feature on your site or facebook messenger is a great way to have a personalized and instant communication with your new user. An E-Book can let your audience know your skills and expertise in an area to build their confidence in your ability to perform.
Focus First on Micro Conversions
In marketing, it can be discouraging to begin a new campaign and not see many new sales. It can take a few weeks to begin to turn your new traffic into a well-oiled sales machine but with tweaks and a solid marketing plan you can start to see the same results of some of the more successful campaigns in your industry. The key is their focus first on micro conversions. If your mind remains focused on these first you can later leverage your impressive lists to generate leads and sales. Make sure your Micro conversions push clients towards your campaigns goal using Purpose Driven Marketing
Value of a Lead
A key metric in marketing is LTV or Lifetime Value of a Customer. Know this number for your industry and business. It could be hundreds of dollars or thousands depending on your product and service. With this in mind, you can have a more clear idea of your budget to acquire new leads. If it costs you $100 to acquire a lead that will generate $2000 over the next year and $10,000 over the next 5 years it can make you more likely to continue to innovate to acquire those leads.
Use Micro to Drive Macro
Once you have a steady stream of micro conversions begin to optimize or develop systems to catch all of your new traffic and turn them into sales and dollars. Remember to continue to release new content and update your campaigns to keep your marketing efficiency high and content fresh. It’s important to not neglect whats working to focus on a new part of your funnel and campaign. Using your micro-conversions such as an email list begin to build in offers to complete these leads for your sales team. With a name, email and phone number a good salesman can work wonders. Give them hundreds of these leads and they will build your business to new heights.