When A/B testing, revenue insights show you which way of doing things produces the most revenue – which can strongly influence your future product decisions. If you want to see how your project is performing, simply check how much money you’ve lost in the missed opportunity section. You can even view estimated losses over the next twelve months under the annualized missed opportunity tab.
Revenue insights are a great fit if you want to:
- Get a clear picture of how much money you’re losing annually
- View average order values
- Determine entire funnel revenue
To set it up, you’ll need to assign value to specific events via the API. Once done, you can create a funnel (or adjust existing ones), adding events with properties. When the funnel is set, the revenue insights switch (pictured above) will automatically appear top-right of the funnel. Switch it on to see the actual monetary value of your conversions.
This feature acts as a guiding hand to those who work with quantitative data. Product managers, growth specialists, UX designers, and even marketing specialists can use this data to determine which purchase process steps need to be optimized and improved.
Understand which parts of your funnel are a gold mine and which aren’t bringing in the revenue you want. Check, analyze, and make data-driven decisions. The new revenue insights feature is available to all Smartlook users.