A Comprehensive Guide to Funnel Analysis

A Comprehensive Guide to Funnel Analysis

Imagine you are standing on the ground floor of your apartment building and your flat is on the second floor of the building. Unfortunately, the lift is not working. You’ll have to climb up the staircase to reach your beautiful home. You will be walking through all the steps before reaching your destination.

Similarly your users will also go through a lot of steps to reach an end goal in your product. And clearly you don’t want anything to block their way. Am I right?

In this article,we will be discussing a lot about how your users are going through all the steps, if anything is blocking their way to move forward, If so, how to fix that. 

What is Funnel analysis?

Before we delve into funnel analysis and optimizing it, what is a funnel? We are all aware of what a funnel looks like. Remember we were talking about the steps we walk through  in our introduction? A series of steps put together to reach an end point is called a funnel.

The desired end goal can be anything from signing up for a newsletter, making a purchase, Scheduling a demo. 

Funnel analysis is a method to understand how users are going through each stage of the funnel, analyze whether they are finding difficulties to get through the funnel and with all the insights, optimizing the funnel to make sure the users are taking the end action.

What is Mobile app funnel analysis?

Funnel analysis is applicable for both mobile and website users. Most of the businesses today own a mobile app making the product easily accessible and user friendly. Also, a lot of them are turning out to be app centric business. Being said that, it is important to understand how users are using the app, how they are navigating through the different stages of the funnel and build a funnel that converts well.

Analyzing how users use the app, where they are dropping off in the app and what actions made them leave the app is called mobile app funnel analysis.

Why is funnel analysis important?

How do you feel after knowing that users are feeling lost inside the app and not being able to do anything about it. There is a huge drop-off of users and you are not sure why it’s happening and how to fix that.

  • Funnel analysis is important because it helps in visualizing how your users are behaving inside the app. What exactly are their actions before dropping out of the app?
  • Keeping a track of each and every milestone in your app sounds tedious now.Building a funnel for each mile stone and following it is not a big task at all. 

For example, you see a lot of users are adding the products to their cart but not making the purchase. This shows the checkout process needs attention. You optimize it by adding preferred payment methods or a more simpler form without a lot of questions.

  • This is how funnel analysis helps in making decisions not just based on assumptions such as this could be because of this or that, it lets you see yourself through the users eyes and give you real time insights so that you can make data driven decisions for your users.

Visualize User journey

User journey is the path the user takes from opening the app to completing the intended action.

Funnel analysis helps in understanding the critical app journeys and reveal opportunities to increase conversions.

Drop-off insights from Funnels and session recordings

Funnel analysis along with session replays gives the clear picture behind user drop-off. While funnel analysis tells us where the user has dropped off from the journey, session recording gives the video replays of the user’s actions before dropping off from the app.

This helps in understanding the user behavior before leaving the app and identify the exact elements and process that has caused the drop-off and optimize them for a better user experience.

Funnels for every journey

With the right funnel analysis platform, you will be able to build funnels not just for bigger events but also for smaller levels of growth and be able to monitor it effectively.

For instance, if you think there is a massive drop-out right before checking out, you can build a separate funnel for the checkout page and analyze the reasons behind it.

Segments and filters for better understanding

At any part of the discussion, if you ever felt surprised (Overwhelming too) about streamlining the whole process, this is the answer for you. The right platform will let you custom the user segments and a filter option to let you know exactly you need to know.

How to choose a funnel analytics platform?

Choosing the right funnel analytics platform might be quite challenging at times. So make sure you spend enough time researching your needs and expectations before you choose one for your business.

Here are the few things you might want to consider before choosing your mobile app funnel analytics platform.

  • There are platforms available exclusively for iOS and android. Make sure you choose the platform that aligns well with your app functionalities and gives you necessary insights according to that.
  • If you are already using other analytics platforms to get quantitative data, you need a funnel analytics platform that can be integrated with the previously existing one.
  • To be able to give your users the best, you need more than just funnel analytics. You might need a session recording tool to provide you the video replays of user’s sessions, or Heatmaps to give aggregated data on User behaviour, or may be a crash analytics tool to help you fix broken experiences instantly. 

So look for platforms that can be a one stop solution for all your needs and will help you meet your user’s expectations better.

  • You are trying to give your users a better experience. At the same time, you don’t want anything to eat up your pocket while getting better at it. So, look out for products that fit into your budget.

For example, UserExperior offers free plans with which you can access upto 1000 session recordings per month.

Best funnel analytics platforms

We have discussed a lot from what is a funnel to how to choose a funnel analytics platform for your business. To save you a lot of time and energy, here are some of the best funnel analytics platforms available.

Amplitude

Amplitude’s funnel analytics platform gives real importance to behavioural data of the users and is helpful in understanding the action points inside the product. Amplitude is a both web and mobile analytics platform and some of the best features of Amplitude includes a great user flow visualizations, being able to provide user segmentation options.

UserExperior

UserExperior is a complete visual analytics platform built exclusively for mobile apps.It offers insights into user behaviour and helps increase app conversions.

UserExperior offers other features such as 

  • Mobile app heatmaps which can help with discovering user intent and optimizing the UI/Ux of the product.
  • Session recordings that provides video session replays of users and letting you see exactly how users experience the app and 
  • ANR and crash diagnostics that gives you a clear picture of what went wrong and diagnoses the reasons behind app crashes and fix that in no time without having to wait for customer’s screenshots.

Mixpanel

Mixpanel gives insights into every user’s interaction for both mobile and website. With Mixpanel’s analytics platform, you can easily customize the user segments according to your needs and target them effectively. It also dives deeper into user behavioral data to help you make better decisions based on how the users feel and experience the product.

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