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Learn how to combine funnel analytics with screen recordings to optimize conversion rates, improve the user experience, and boost customer retention.
Funnel analysis is a data analysis technique used to track conversions through a marketing or sales funnel. Simply put, it’s a way of analyzing website or mobile traffic to understand user behavior and calculate conversion rates.
The goal of funnel analysis is to identify which step causes users to drop off so you can make corrections and improve the conversion rate.
A funnel in marketing is typically represented as a series of steps, with each step representing a point at which a potential customer can ‘convert’ into a paying customer. The number of potential customers decreases at each step in the funnel, as some drop off and don’t continue through the entire process.
Funnel analysis can be an extremely valuable tool for product managers and digital marketers, as it can help you:
The goal of funnel analysis is to identify problem areas where visitors drop off, so you can address them and improve the overall conversion rate. By improving the conversion rate, businesses increase their revenue and profit.
Marketers and product managers use funnel analysis to create a visual map of the flow of users along a particular customer journey through a website or mobile app and measure the number of visitors that drop off between each step.
The most common approach is via website or mobile app analytics tools that identify where potential customers come from and track their journey through your product (website or mobile app). You can then use this data to identify which steps in your funnel are causing you to lose the most customers.
There are a number of tools that can be used for funnel analysis, including web analytics tools like Google Analytics and more specialized tools such as Smartlook and Mixpanel.
Google Analytics offers built-in funnel reporting making it a great option for businesses. Funnel analysis is helpful for businesses of all sizes, especially when it comes to improving sales and marketing efforts.
With Smartlook, you can pair funnel analysis with screen recordings to analyze the behavior of visitors and app users who drop off at each stage along their journey through your product.
Specifically, Smartlook lets you: