Funnel analysis is the study of funnels in your website or app. A funnel can be defined as a chronological series of actions undertaken by users leading up to the fulfillment of some goal.
A funnel in an ecommerce app can be as simple a flow of actions as this:
Funnel analysis therefore becomes a scientific examination of how many people were led to the product page in your app from the push notification, how many continued to make a purchase (the goal of the campaign), and how many did nothing at all.
The goal is figuring out: what can you improve in your campaign to increase the number who convert and make a purchase?
Funnels in marketing allow you to identify how users navigate your app and where they drop off before reaching a conversion step. They help you plot a series of actions performed by the user and answer critical questions such as:
By doing a funnel analysis, you can track how conversions will change as you test new things.
One other important aspect of funnels is that they can help bring to light problem areas in your flow of user actions. If a certain step shows that 83% of your users drop off, then obviously you need to make a change in that step.
In CleverTap, Funnels is the feature that allows you to do funnel analysis on your mobile app users.
You can analyze by user segments to identify the most valuable conversion paths. In addition, Funnels allows you to split funnels by any event property or profile property to quickly compare user paths across geographies, product categories, technographics and much more.