We’ve launched Funnels and Cohorts in the WizRocket Dashboard, and we’re quite kicked about it. They’re real-time, retroactive and don’t require any prior setup.
You can create impromptu funnel and cohort reports for any time duration, using a combination of user site actions, demographic (gender, age etc.), technographic (device type etc.) or geographic data. You could even filter the report by a specific campaign. All answers instantly.
Funnel analysis helps figure out at what point in your site flow are users dropping off. As an example, it can help you figure out how many people came to the site, of that how many went on to add things in the cart and then finally how many of them made a purchase.
Cohort analysis helps figure out how are groups of people behaving on your site. It helps a site figure out customer retention trends over time. Basically, cohorts help answer questions like – how many people that we initially acquired via ‘x’ campaign come back daily, weekly or monthly to make a purchase.
Recently, we helped a customer save money by helping them figure out that the best time for their online campaigns were daytime hours, as compared to the evening/night hours. This was done using real-time cohort analysis.
Existing WizRocket customers can log into their dashboard and try out these reports.