Micro-conversions are consumer actions that do not provide immediate revenue, but align with a company’s priorities. Conversions (or macro-conversions) traditionally defined as purchases or completed sales versus micro-conversions that require additional steps or provide additional information about a consume. Refer to Avinash Kaushik’s great post Excellent Analytics Tip #13: Measure Macro AND Micro Conversions for a thorough definition.
Ten Micro-conversions could have more value than a single conversion because those 10 micro-conversions assisted in 5 sales worth $1000 each vs. the single conversion only had a single purchase ($1000) and 2 referrals resulting in 1 additional purchase ($1000) for a total of $3000 being generated from the 10 micro-conversions.
Measurement of micro-conversions can be expanded to data sources beyond web analytics including Email, e-Commerce application’s databases and CRM solutions. Future post to be linked to here.