In ecommerce, the term 'Macro Conversion' refers to the primary goals or 'conversions' of your website, which directly contribute to the ultimate business objectives. These could be a purchase, subscription signup, or even lead generation form submission.
Macro Conversion Rate = (Number of macro conversions / Total visitor sessions ) x 100
For example, if your online store has 500 visitor sessions and registers 25 completed checkouts (a macro conversion), your Macro Conversion Rate is (25/500) x 100 = 5%.
Why is Macro conversion important?
- Revenue Generation: Macro conversions directly contribute to your ecommerce business’s revenue, making it a crucial aspect to monitor.
- Performance Metric: These conversions indicate the effectiveness of your website design, user interface, CTAs, pricing strategy, and more.
- Customer Engagement: High macro conversion rates reflect successful customer engagement and indicate a healthy sales funnel.
Which factors impact Macro conversion?
- Site Performance: Faster loading times, mobile optimization, etc., can enhance user experience and improve conversion rates.
- Pricing: Competitive pricing can have a direct impact on your shoppers' buying decision.
- Trust: Building trust via secure payments, good return policies, and honest customer reviews plays a significant role in macro conversions.
How can Macro conversion be improved?
- Improved UX/UI: A seamless user interface can guide your visitors towards completing the desired action.
- Quality Content: High-quality, relevant content can build customer trust and push them through the conversion funnel.
- Optimize CTAs: Ensuring clear, easily visible, and persuasive calls-to-action can have a significant impact on your overall macro conversions.
What is Macro conversion's relationship with other ecommerce metrics?
Macro conversions are closely related to Miсrо conversions and Conversion Rate Optimization (CRO). While improving Miсrо conversions helps eliminate obstacles in the conversion funnel, CRO values revolve around increasing both macro and micro conversion rates.