You can perform a step-by-step analysis of how users enter the service and achieve a specific goal with the funnel analysis. The steps in the funnel Analysis can be created using the events. This allows you to check the conversion/bounce rate of each step.
The advantages of the funnel analysis are as follows:
- You can easily assess how an improvement affects the overall service experience with the data
- When a problem occurs within the product, you can quickly identify the cause of the problem by understanding the whole process at a glance.
- Identify the step with the highest bounce in the customer journey and then improve it first to solve the problem efficiently.
For example, for e-commerce, you can leverage the funnel analysis to answer the following questions:
- How did the improvement affects the purchase process?
- Where did the user leave the most during the purchase process?
- Which step can be improved most efficiently to increase the revenue of services?
Currently, Hackle offers two types of funnel analysis: Any Order Funnel and Closed Funnel. You can select the type according to the purpose of the analysis
1. Any Order Funnel
This Funnel analyzes all users who have reached each stage without considering the association of the funnel stage.
Therefore, there may be a middle-high funnel rather than a gradual reduction in the Any Order Funnel
This Funnel is useful when it is difficult to clearly understand the sequence of user behavior within a product
2. Closed Funnel
Closed Funnel calculation refinement (22.09.27)
The events in step n will be counted, only when occurred after the events from step 1 to step n-1
This funnel analysis steps in the funnel whether a user who enters the first step reaches the last step through all steps based on the order of the funnel steps you set when creating the funnel. This means that the analysis does not include users who participate in the funnel from the intermediate stage instead of the first stage or those who leave the intermediate stage.
Therefore, no matter which event you choose, the funnel appears to be gradually smaller in the case of a Closed
Closed Funnel is useful for identifying whether a user is actually acting in the desired order within their journey, especially when a user can enter the funnel from multiple paths, such as the product detail page.
Any Order Funnel and the Closed Funnel aggregate the number of users as below for the following case - Three steps with users 1, 2, 3, and 4 who have acted differently in each step.
Learn how to create Funnel Analysis
Updated about 3 hours ago