What can I do with Conversion Funnels?
- 17 Jan 2024
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What can I do with Conversion Funnels?
- Updated On 17 Jan 2024
- 1 Minute To Read
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Article Summary
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Conversion Funnels are used to understand how end users are using a product. You can track the end users' paths from when they discover the product until they either drop off or convert into customers. Conversion Funnels can empower you to make data-driven decisions and achieve your business goals by reducing friction and improving productivity. For more information, see What are Funnels?.
How is the time taken to complete a Funnel calculated?
The method for calculating the time taken to complete the Funnel involves capturing the timestamp of each step's or event's initial occurrence. For instance, if a user completes Step 1 today and completes both Step 1 and Step 2 tomorrow, we consider the time of the first occurrence (today) as the starting point for Step 1 and then the next day for Step 2. As a result, the completion time may appear longer than expected. For more information, see How is the Average Time calculated in a Funnel?
Use Cases
E-commerce Checkout Funnel
In an e-commerce checkout Funnel, users may add items to their cart on Day 1, proceed to review their order on Day 2, and finally complete the purchase on Day 3. By using a Funnel, you can calculate the time from the initial occurrence of each step and determine if users face any delays or challenges during the checkout process.
User Onboarding Funnel
For a user onboarding funnel, suppose Step 1 involves account creation, Step 2 is profile setup, and Step 3 is completing an introductory tutorial. By using a Funnel to track the time between the initial occurrences of each step, you can analyze if users experience any bottlenecks or drop-offs at specific stages.
Support Ticket Resolution Funnel
In a support ticket resolution funnel, Step 1 represents the ticket submission, Step 2 is the initial response from the support team, and Step 3 is the ticket closure. By using a Funnel to calculate the time taken between each step's initial occurrences, you can assess if there are any delays in ticket resolution.
When analyzing Funnel insights, different metrics provide valuable information about how your users navigate the application. These different metrics, Average time, Median time, and 95th Percentile time, provide insights into user behavior at each step of the Funnel. By analyzing these numbers, you can pinpoint areas where users face obstacles or experience variations in completion times.
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