ROI TrackingWeb Analytics

Conversion Value – You Need to Know This

By December 10, 2008 December 3rd, 2012 One Comment

So often we are concerned with the “big conversion” on the website, like purchasing something, for example.  We call this a macro conversion – it’s your ultimate goal.  But what about other activities, maybe not as valuable, but still worth something.

We forget that marketing is basically broken down into these 3 pieces: Awareness, Consideration and Purchase.

 

Everyone, including upper management, is zoning in on purchase.  But what about awareness?  Remember the circles of trust graphic?  It’s highly unlikely that many will purchase from you when they don’t know you.

My point:  create micro conversions in the Awareness and Consideration stages and measure them!

Things like entering a zip code, joining a mailing list, or subscribing to your RSS feed.  Now you have a chance to converse with some highly potential, future customers on a permission-based marketing system, versus a interruption marketing system.

Now, assign a value to these micro conversions.  A zip code might be worth $1 to you.  Asking for a zip code is great because it further refines what geo-tracking in Google Analytics can’t do.  Now you know what zip code your visitors are from, so it takes some of the guesswork out of your next direct mail piece.

Use this value to compare to the costs you’ve put into the activity, such as SEO, PPC or even web analytics.  Before long, you will be able to see which activity is driving the most value.

Ryan Kelly

Ryan Kelly

Ryan is the founder and CEO of Pear Analytics and has helped hundreds of customers with their Internet marketing since 2003. He has spoken on various topics of SEO, Analytics and other marketing at conferences in New York, Chicago and Vancouver. Clients he has consulted include Sears, KMart, CareerBuilder and PEER 1 Hosting. Ryan currently teaches two Internet marketing classes at Trinity University in San Antonio.

One Comment

  • jermaine says:

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