Funnel analysis helps determine the point in which users are dropping off of a series of events that leads towards a defined goal. An example goal for an enterprise application could be when the administrator completes the setup of a required integration.
No matter the application, funnel analysis can help you measure goals you have set for product adoption and identify the friction points your users have while using your product.
Once you have defined the steps of your funnel, the first thing you’ll want to learn is where significant drop off occurs in the process. Using the example funnel below there are 3 steps, create survey, add survey questions and launch survey is the goal.
There is a significant drop off of users who have created a survey, but not added any survey questions. Only 6 out of the 28 users have launched the survey which is the ultimate goal. It’s important when looking at this analysis to filter based on different user or account segments as there may be patterns that emerge proving insightful. Perhaps in the example below the drop off occurs only for users new to the product and returning users complete the tasks with no issue.
Once you have identified where there is significant drop off, the next thing you need to understand is why users are dropping. With Gainsight PX’s Funnel Analysis you can easily identify specific group of users to engage with to get the feedback you need to understand why they dropped off.
When should you use Funnels?
Funnel analysis is best applied when there is a linear sequence of steps when using a given feature, often referred to as the wizard design pattern. Your ability to measure the conversion rate between each step will inform where to focus your optimization time and allow you to measure the impact of any changes made.
Funnels are one of many product analytics tools available within the Gainsight PX product experience platform. Start analyzing your product experience today with a free trial of Gainsight PX.