When it comes to understanding your customers journey and tracking user engagement on your website, nothing compares to the clarity of funnel analysis. It’s the perfect tool to help you identify key events along your customers journey so you can make improvements and increase your conversions.
Issues such as struggling to figure out what area of your content is generating leads, losing track of the path your users are taking on your website, or simply where your users are dropping off can all be resolved through the use of this handy tool.
In the blog, we explore exactly what funnel analysis is, the benefits it can bring for your business and how you can use this tool.
What is funnel analysis?
Funnel analysis is the process of mapping the steps that visitors take on the road to a conversion. The whole idea of it is that once a user is in the ‘funnel’, they can be led to a specific goal. In many cases, this is known as a conversion.
Many businesses capitalise on funnel analysis and have a clear picture of the steps visitors are taking on their website. This allows them to adjust their business to best achieve success. Ultimately, the aim of funnel analysis is to increase your conversion rate.
For example, you may have a web page that contains unclear information for your audience, or maybe the text is difficult to read. This is where funnel analysis comes into play and highlights any weak areas of your site so you can make improvements.
What are the benefits of funnel analysis?
Overall, funnel analysis allows you to stay one-step-ahead of the game because you can use it to monitor your users actions and behaviours. This helps you understand their intentions and motivations, meaning you can tweak your web pages and messaging to engage your users and encourage them to complete a conversion.
Here are some other ways funnel analysis can benefit your business:
Drive more conversions
As we’ve mentioned throughout, conversion funnel analysis gives you the knowledge of the exact web pages which are driving or decreasing conversions and you can make alterations to those pages. You can optimise these pages to make the next step of the conversion seamless for your users, which creates a smoother and more personalised customer journey.
Streamline your funnels with funnel analytics
Most brands today have many different digital touch points, for example, their website, social media, mobile apps and email newsletters. Each of these touch points will have their own funnel and when combined, they represent one overall customer journey. And thanks to funnel analytics, it can give you an overall perspective on how each of these funnels link together.
This kind of insight can also give you more information to other areas of your website too. For example, if you’re noticing a lot of your pages are throwing off conversions, they might be experiencing common issues, such as no headings and no imagery. You can therefore make adjustments to these touch points and pages based on the insights you’ve gained.
Increased revenue
When conducted correctly, funnel analysis can give you insights which can ultimately increase your revenue. With these insights, a snowball effect will be created which generates a much more seamless journey for your visitors. At the end of this journey will be the best chance of a conversion, thanks to your optimisation efforts.
How do I use funnel analysis?
Google analytics 4 (GA4) is the most effective way to conduct funnel analysis. As long as your web pages are being tracked using GA4, you can identify the exact steps users are taking right up to the end of your tracked conversions.
Once you have set up this insightful tool, you can view the Path Exploration tool in the Explore section of Google Analytics. Once there, you can select your date range and apply a set of filters to fine tune the data you’d like to see. From here, you’ll be able to see the steps your users are taking on the road to completing a conversion.
You can analyse the web pages where your audience is dropping off the most and with that knowledge, you can inspect the pages in question and make any necessary improvements. Overall, the funnel analysis in Google Analytics is incredibly powerful and effective and you can use the tool to make adjustments which benefit your business in multiple ways.
Want expert advice?
It’s obvious to see that funnel analysis is a valuable weapon in your digital arsenal. It allows any business, no matter the industry they reside in, to truly understand the path their users are taking on their website.
Here at Fifteen, we specialise in all areas of conversion rate optimisation (CRO), so if you’d like expert recommendations to improve your website, be sure to contact us today and discover how we can help your business reach its full potential.