Funnel analysis allows you to track a sequence of events. You can select a sequence of events that are important to your business to identify when your users are experiencing difficulties. You can track the performance of a purchase funnel, an account creation, a subscription process, a form etc. With this information you can improve your funnel, for example you can create a MV Test campaign and use it as a segment to see if it was effective in improving the completion rate of the funnel.
Create your first funnel
When creating a funnel you will land on the screen below:
Important things to note:
- The side menu allows you to select an event to add to create a step, just double click on it
- The upper central area contains several elements
- The funnel configuration drop-down menu, by default on Visit. This allows you to configure the scope of the funnel, in visit it is necessary that all the configured steps are realized during a single visit. In visitor scope, the configured steps must be performed by a single visitor, regardless of the number of visits or users. And finally, in user scope, all the steps must be performed by a single user, regardless of the number of visitors or visits.
- The funnel configuration area, by default with the message "Add a step". It is possible to click on the button to start the configuration of a new step
- The two buttons on the right to launch the funnel to display the result and to retrieve the API call
Create a step
As you may have guessed, it is possible to create a step using the side menu or the central area. No matter which method is used, the result will be the same. Here is an example of creating a step using the central zone and selecting two events.
As you can see, it is possible to select one event, several events or all events.
Once the selection of events has been made it may be necessary to add filters. For example, if you select the page.display event you probably don't want all the pages of your site to be integrated in the step, but probably one or more pages. To do this, either if you have just added an event the filter box is open, or it will be necessary to click on the option button of a step (the three little dots) and select "Filter". In the example below we can see how to filter the pages which in the property "Page" have the value "shop".
You can continue the configuration of the funnel and add several steps. Once finished, you will have to launch the funnel via the button on the top right.
Analyze and understand the results
Your funnel is finished and you have displayed the results but you are not sure to understand the results? You are in the right place
The first thing to understand when analyzing the funnel is that the colored part of the funnel corresponds to the visits/visitors/users moving through the funnel. In our example, the perimeter is set to visit. So we can see that we had 17,245 visits that entered the funnel, 15,309 reached the second stage, 3,448 the third, 2,951 the fourth and finally 2451 finished the funnel. We can also see that the grey area shows the number of visits from the previous stage that did not reach the current stage.
Tip: If the bars are too small to see the values, you can switch to hovering over them.
Below the graph you will find some KPIs that are based on the funnel configuration:
- Total number of visits that entered the funnel
- The average completion time of the funnel
- The conversion rate of the funnel (Number of visits on the last step divided by the number of visits on the first step)
- The drop-off, which corresponds to the number of visits/visitors/users who passed through the first step but did not complete it
- By clicking on the arrow you can find two additional metrics which are the maximum completion time observed over the period and the minimum time.