Let’s explore six types of conversions in digital marketing and the benefits they provide when utilized effectively.
While the final goal is a purchase, several micro conversions can be more effective at nurturing consumers toward your goal
Not all conversions are equal. Each one represents a specific action that businesses want potential customers to take, whether subscribing to a newsletter or completing a purchase. The success of a campaign depends not only on the number of conversions but how they contribute to a given business goal. In this article, we will explore six types of conversions in digital marketing and the benefits they provide when utilized effectively.
Dig deeper with Conversions in Marketing: The Complete Guide.
Types of Conversions in Digital Marketing: Macro Conversions
Macro conversions refer are actions that serve a primary business goal. The most common example is making a purchase, filling out a survey, or signing up for a subscription.
Purchase
Purchase completions are the most common type of conversion since they directly impact a business’s growth and financial bottom line. These can be subdivided into further categories, such as one-time purchases, recurring subscriptions, or payment plans. Purchase conversions can also be segmented into micro stages that provide a view into the entire sales funnel, such as adding an item to a cart or accepting a free trial.
The length of funnels for B2B and B2C industries can be influenced by several factors. In B2B industries, the sales cycle is typically longer due to the complexity of buying decisions and the involvement of multiple decision-makers. This often requires nurturing leads through various stages of the funnel, such as lead generation, lead nurturing, and finalizing a sale.
In contrast, B2C industries usually have shorter purchase cycles. The decision-making process is simpler, and the transaction can take place relatively quickly. However, factors such as the price point, brand reputation, and level of trust also influence the length of the funnel in B2C industries.
Form Submission
Form submissions let businesses gather valuable data directly from consumers, such as their interests, preferences, and background. This data can serve multiple needs, such as measuring user satisfaction, understanding which features are most valuable to consumers, or identifying problems with a product or website. Marketers can use this information to build consumer profiles and personas that assist future campaigns, or it can inform future iterations of a particular product.
Types of Conversion Goals: Micro Conversions
In contrast to macro conversions, micro conversions are small, intermediate actions that represent a step towards long-term goals. These actions may not directly lead to a sale or purchase, but they do indicate an increased level of engagement and often contribute to brand awareness.
Click a Button
Clicking a button is a simple micro conversion that measures any desired action taken while engaging with marketing creative or website pages. It signifies that the user has reviewed the immediately available information and is moving into the next stage of brand or product awareness.
To achieve this conversion, effective landing page optimization and compelling product descriptions play a vital role. They should highlight the unique selling points, benefits, and features of the product, capturing the user's attention and building trust.
Content Shares
Content shares on social media platforms provide ways to engage with customers while also enhancing brand reputation. A cleverly designed meme can become viral and reach an exceptionally high number of users, increasing brand awareness and name recognition. Some of these viewers may research the company or product to learn more, driving purchases later in the funnel. Finally, businesses can track reshares to see which audiences are engaging with a given campaign, which is invaluable for designing future content marketing strategies.
Sign-up
The sign-up conversion goal is a crucial aspect of any online marketing strategy. While completing a form offers extensive data collection, a sign-up largely captures contact information for future engagement. By enticing users with future notifications or a newsletter, businesses can establish lines of communication that build relationships and foster brand loyalty. Sign-ups often provide businesses with an opportunity to nurture leads into paying customers through a steady stream of valuable content.
Create an Account
Similar to a sign-up, creating an account provides additional benefits to brands and customers. Businesses can gather valuable customer information, such as name, email address, preferences, and more, that is useful for marketing products. Customers also benefit by being able to store shipping and payment information which will make future checkouts faster and more convenient. Most platforms also provide ways to track order history, reorder past purchases, and view personalized recommendations.
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