From the course: Social Media Marketing: ROI
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Tracking the economic value of micro and macro conversions
From the course: Social Media Marketing: ROI
Tracking the economic value of micro and macro conversions
- [Instructor] Most of your website visitors won't purchase right away, so how do we measure how much such traffic is worth? There are actions a visitor might take on your website or in your app that correlate with purchases: visiting the pricing page, signing up for the newsletter, or adding to cart. All have some incremental value. These are called indicator metrics or micro conversions, as opposed to the macro conversion of actually purchasing the product. So for example, if I'm browsing the Allbirds website, and I'm looking for a nice pair of running shoes, and I find the one that I like, then I choose my size and add to cart. This proves that I'm a valuable visitor. I have some purchase intent. I might not purchase right away. In fact, the vast majority of the people who add to cart don't purchase right there and then. They usually come back later. Now, does this mean that I'm worth nothing? The marketing…
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Contents
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Calculating conversation, amplification, and applause rates2m 55s
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(Locked)
Tracking the economic value of micro and macro conversions4m 57s
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(Locked)
Using URL parameters to track social media success4m 36s
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(Locked)
Measuring word-of-mouth coefficient and dark social4m 57s
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(Locked)
Marketing mix modeling for attributing social media ROI3m 56s
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