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Sales Funnel Analytics for IT
Sales funnel analytics for IT
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FAQs online signature
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What is a funnel tool used for?
Funnel analysis is a go-to framework used by businesses to follow prospective customers through each step of their journey all the way to conversion. It starts with lead acquisition and extends to long-term customer loyalty.
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How do you define a funnel?
Kids Definition : a utensil usually shaped like a hollow cone with a tube extending from the point and used to catch and direct a downward flow (as of liquid) : something shaped like a funnel. the funnel cloud of a tornado. : a large pipe for the escape of smoke or for ventilation (as on a ship)
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What does funnel mean in tech?
A funnel is a succession of key steps which lead a visitor to convert on your site or app. The funnel shape represents the progressive steps which result in a targeted objective.
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What is a funnel in technology?
A funnel is a succession of key steps which lead a visitor to convert on your site or app. The funnel shape represents the progressive steps which result in a targeted objective.
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What is an analytics sales funnel?
A sales funnel report is an analysis of your company's sales funnel. These reports may track a wide variety of metrics, including: The volume and value of leads in your pipeline. A lead's likelihood of being won at each pipeline stage.
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What is the purpose of a funnel?
To channel liquids or fine-grained substances into containers with a small opening. Used for pouring liquids or powder through a small opening and for holding the filter paper in filtration. Used in transferring liquids in small containers.
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What is the best way to visualize a sales funnel?
To really sell the part-to-whole breakdown of a funnel process, the most apt chart type is the stacked bar chart. Instead of plotting stage bars in a line like in a standard bar chart, a stacked bar chart overlays all of the bars in the same place.
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What is sales funnel in SaaS?
The SaaS sales funnel is a roadmap for guiding potential customers from initial awareness to becoming loyal advocates of your product or service. Understanding and optimizing each stage of the funnel is crucial for driving revenue, increasing customer retention, and fostering long-term business growth.
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in this video i will show you how to build funnel reports in google analytics 4. [Music] hey my name is julius and welcome to the analytics mania youtube channel where i teach people how to work with google tech manager and google analytics so if you want to stay up to date with ge4 then subscribe to this channel funnel reports in google analytics 4 are a great improvement compared to the previous versions you can build the reports by using historical data you can have multiple funnel reports and so on funnels are still not perfect but they are already much much better let me show you how to navigate the interface and build a report to get started log in to your google analytics 4 property and on the left sidebar choose explorer here you will see various exploration techniques but in this video we are going to focus only on funnel exploration so choose it here in the interface we will see three columns the first one is variables where you can control what kind of dimensions or segments or metrics are you're going to use then in the second column which is tab settings we will control the settings of the report of how it will look like and then the third section which is the largest one and it is the output or in other words the report that was generated based on the tab settings here google analytics 4 automatically adds a predefined funnel that you can already interact with but since we are going to start fresh we are going to remove all the steps by clicking this x next to each step the best way to learn how to use funnel exploration is by showing an example so let me do this to configure the steps of a funnel you will need to click the pencil in the steps section and then this will open a funnel builder where you have to configure various steps that you will later see in the report right now i'm using the official google analytics for demo account and that account already has some data including e-commerce events for example when a product is viewed when a product is added to a cart when a purchase is made and so on so let me create a funnel of people who first view any product then add any product to your cart then begin checkout and then finally make a purchase so to do that we have to configure each step the first step as i've said is when a product is viewed and for that this property is tracking an event called view item this is a recommended event name if you want to implement google analytics for ecommerce tracking and by default in new properties you won't see this if you want to collect this data you have to specifically send an event with this name and also it should contain some additional product data like product name product id quantity and so on so let's select this view item and then i will add a label to this step this will be displayed in the report then when you name this step you can add another step here i'm going to track when a visitor adds any product to a cart to do that let's add another condition and enter add to cart and then select that suggested event because it is already collected by this property then let's label this step added to cart if your funnel is time sensitive and you want to see how many people complete a step within a particular period of time you can select this checkbox and then the difference between the first event and the second event must be five minutes or less if you want you can choose different time period for example five days but in this example i am not going to use this if you want to make your step more specific you can add parameters here or you can add another condition with end so it means that both conditions have to be met and if you have a step where a visitor must complete one condition or another you can add that or condition by clicking here and then adding something right here if you want to remove conditions you can click the x right here if you want to delete the step you can do that by clicking here and then remove the step you can also copy that if you want you can also insert additional steps above or below a particular step and you can do that again by clicking this icon and then clicking add step above or add step below then let's go to the third step which will be begin checkout and then let's add a condition where the event name is called like this begin checkout then the final step is the purchase and here we have to select an event which is called purchase if you're tracking some other events then you will have to enter the names of those events that you have already collected and then you can see the preview of this funnel how many users are included and if you want to apply this funnel to your report you will have to click this button and here i can already see how many users viewed any product and in this case that's 19 000 then out of those users almost five thousand added to your card then out of those users one and a half thousand started checkout and then out of those 718 made the purchase and you can already interact with this funnel for example if you want to zoom in a bit you can click these icons right here and then this wave shows that the column is much higher and it just did not fit into the screen you can also zoom in and zoom out just by hovering your mouse and then scrolling with your mouse up or down like that and you can even build segments based on each column or the drop-off and the drop-off in this case is the number of users who did not advance to the next step so in this case we had 19 000 users who saw at least one product but 14 000 of them did not add a product to a cart if i do the right click on any column i can create a segment of those users if i do the right click on this then i can create a segment from abandonments from that segment i could later create an audience import it to google ads and then show ads to people who viewed a product but not added it to a cart now let's take a look at the settings of the funnel exploration usually we are used to standard funnels where we have columns but there's a feature in google analytics 4 that allows you to see how that funnel changed over time you can do that by selecting trended funnel in the visualization section and now each line in this chart represents a particular funnel step and you can see how that funnel changed over time if you want you can switch even to a particular funnel step to see the chart how it changed but usually i find myself working with the standard funnel then we have open funnel versus closed funnel but i will explain the difference later in this video then if you want you can compare different segments and i will talk about this also a bit later in the video then here we have steps if you want you can rearrange them by dragging them then you can add new steps by clicking this pencil icon and then editing the funnel builder once again then if you want to remove some step you can do that quickly by clicking an x next to it then there is a breakdown dimension so here we can see the breakdown of each step right now we have selected device category and some numbers don't fit well so let me just zoom out a bit and here we can see that most of the users are using desktop but if we take a look at the abandonment rate we will see that most of the users who abandon this particular step and don't go to the next step are on mobile devices so that might be a signal that the experience on a website is not that good on mobile devices if you want you can change the breakdown dimension here right now it's device category but if it makes sense to your analysis you can switch to other for example country and then this will show the top five countries in the breakdown then there is an option to show elapsed time elapsed time is time difference between two steps or in other words how much time does it take your users to go from step one of the funnel to step two you can enable it by clicking it right here and then a new column will appear in the table however there is one drawback of this metric and i hope that in the future google analytics will change this but right now this is not the average elapsed time this is the sum of time that it took all your visitors to go from step one to step two that is why we see so many hours like 14 hours 15 hours instead i wish that this was an average elapsed time per user in that case it would probably take like you know maybe several minutes to go from one step to another but unfortunately that is not available right now then you can also see next action and you can add it by clicking right here and selecting dimension event name event name as a selection will be available here if it is added right here in dimension section once this is enabled you can then hover your mouse on a particular funnel step and then you can see what other top five actions were completed by visitors who landed on this funnel step you can also choose here from some other dimensions but you have to add them in this section let me show you click the plus and then enter page and then you can find things like page title page location page path and click import now you can remove this event name and click here and then choose from those other dimensions for example page path you click it and then you can hover your mouse and see what were other pages where people went after they landed on this particular funnel step and then there is a filter section where you can add some additional condition that will filter down the data visible right here for example let's say that i want to see only the data coming from united states so i will click here and then select country country will be available here if country is added in the dimensions section so if i choose this then enter exactly matches united states and click apply then we will see the data only coming from that country in that case breakdown by country does not make sense so i will remove it and now let's take a look at one feature that i mentioned earlier in this video and that is open funnel by default google analytics for funnels are closed it means that visitors cannot enter funnel somewhere in the middle of it the visitor must start at the very first step and then complete all the other steps in that particular order but if you select this funnel to be open then it means that visitors can enter funnel not necessarily at the first step but instead the visitor can enter the funnel at the second step and then complete all other steps both of these funnels and i mean open and closed still require visitors complete some steps and not to skip any of them so for example if i go to this step and then i skip this and then i complete this step the drop-off will be counted between these two steps because i skipped the step right here which is step number three so open funnel is responsible only for the entrance of the funnel where i can enter let's say at step number three but if i enter it then i have to complete all the subsequent steps without skipping any of them let me explain this in a bit different way i will start with the open funnel let's say that i have a funnel consisting of three steps step a b and c and then there are several situations of how visitors complete those steps the first user completes all the steps then the second user skips the first step and then completes step b and step c then we have user number three who skips the second step and then user number four who completes only the last step which means that the visitor enters the funnel only at the last step so now let's see how google analytics 4 will count users and how it will display the funnel steps so when it comes to the first user all three steps will be counted because the visitor entered at the first step and then completed all of them the second user will also be counted because the user entered at the second step and this is an open funnel step number three will also be counted then the first step of user number 3 will be counted because that's where the visitor entered the funnel but then that visitor skipped the second step that is why step number 3 will not be counted and then user number 4 will be included because that's where the visitor entered the funnel so in total we have two users at the first step two users at the second step and three users at the third step and visually it will look like this we have two users here then one user advances to the second step but a second user is added right here so that user entered the funnel here then those two users advanced to the third step and then a fourth user has entered the funnel and the step so in total we have two two and three now let's take a look at the same situations but closed funnel so the first user will be counted in all three steps because that's the first step where the visitor entered and all other steps were completed then user number two will not be included because the first step was skipped and this is closed funnel then we have user number three the first step will be counted the second is skipped that is why step number three will be not counted and then user number four will not be counted because that user skipped step one and step two in total the user count in the first step will be two then one and then one and visually it will look like this two users in the first step then drop off and we have only one user and then one user right here once you make the funnel open then you can hover your mouse for example here and you can see how many new funnel entries were there and then how many users reached this step from the previous step of the funnel the same is applied here and here if the number of new entries was higher then you could also visually see another line above this line right here but even if i zoom in i won't be able to clearly see that because the numbers of new entries are very low but visually it would look something similar to this one where we have users at the bottom who advanced from the previous step then some empty space and another part of the column where we see the new entrances as i have said previously in this video you can also compare several segments in a funnel and you can do that by double clicking these segments or drag and dropping them right here or just clicking here and then selecting from segments that are available in this section so let's compare mobile traffic against tablet traffic and we can see already that there are two different colors and those same colors are visible right here and if you hover your mouse on one segment's color you will then see the highlighted path right here and that would better illustrate the drop off then we have another one but these numbers are very low so we cannot see much here but in that case we could zoom in probably and then see the numbers right here you can also hover your mouse here or here to highlight those drop-offs currently when i'm recording this video you can add up to four segments at the same time to this comparison and then you can see some sort of breakdown and the numbers of one segment plus another segment in the table right here so to see more data at the same time i mean at once in the screen you can either zoom out your screen or you can also click here to hide those columns and if you want to see them again you can just click these widgets right here at the bottom and that is how you can build a funnel report in google analytics 4. if you found this video useful hit the thumbs up button below the video because it helps me continue working on this channel also if you want to learn more about google tag manager or google analytics 4 then consider subscribing to this channel my name is julius this is analytics mania and i'll see you in the next video [Music] you
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