Streamline Your Workflow with Sales Funnel Analytics in Legal Agreements

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hi youtubers this is dashley youtube channel and this is valerie and this is the video about analytics in any business so never start a business without analytics even if you are just at the very beginning of your business journey even if you are only with mvp you need analytics so this video is going to be about analytics that you need to track through the customer journey and through the funnel let's start let's imagine the funnel no don't imagine anything here it is so this is how the funnel looks like well as you see it has quite many steps and you're going to track the analytics on every step of it we're going to start with the acquisition so the very first and the widest part of the funnel then we're moving to the website interaction also lead conversion signup activation activation into key feature and also subscription and repeated subscription purchase so i'm going to cover each and every step so we are starting with the widest and probably most important part which is traffic or acquisition part so you have a website and you drive traffic to your website either you do seo or you do promotions or whatever you do so you have traffic that comes to your website your task here is to analyze intensively and thoroughly which communication channels drive better traffic i mean to say you might just check like okay i see that there are thousands of people who come from facebook page but none of them convert into a lead for instance so that means this communication channel probably performs in a good way for you but you should mend something somewhere in the customer journey or probably you have a source um probably that's a medium and you posted an article some days ago and gives you 20 website visitors and 19 of them converted into leads this means this communication channel is a good one because you see the interaction throughout the funnel in other words you are going to check the communication channels not only from the quantity point but also the quality so you should check which communication channel perform best for your business what is next next you are going to put even more effort into the communication channels that give you really good leads the next step is about website interaction so we have a landing page you have different call to actions you have forums you have other pages and your task here is to see how the landing page performs for your business do they click certain buttons do they scroll how long do they stay on the website do they leave it during the next three seconds do they actually go to the pricing page do they click on sign up which is also very important and here you are also going to track how many of the website visitors turn into leads make sure you have very nice lead magnets well i actually have a video about this you can check it here so don't forget that the next step of the funnel is also to see the lead generation in other words you see the conversion of the website into the leads don't forget about the quality of the leads as well because there may be some spam accounts or maybe some leads that are actually not interested in your business so at this point you're going to check if these leads are qualified or not and here again i suggest watching this video about list qualification because that's where i'm covering this idea from a to z all right once the traffic is converted into leads it's time to see how many of them actually convert into sign up so any of this as business strives into the growing number of sign ups daily or weekly probably but this may be a bit misleading because again you're going to look at the sign up number not in the isolated uh point of view but you're going to check it connected with the previous final steps so make sure your sign ups are qualified and these actually also come from the traffic source which is already known as convertible so the idea here is to track good sign-ups and not so good sign-ups perfect once sign ups are calculated it's time to see the activation into your product so whether you have a single feature product or probably multiple features product still you're having sort of interface and you need to track how newcoming users actually interact with your product it's time to track the product activation these metrics are especially important for the product team because they should be aware of the customer journey inside the product so get as much analytics as possible but the activation into the features is not actually the end when it comes to the product activation you also need to track the activation into the key feature of your product if you have it of course so the idea of the first session which is highly important for sas and which actually gives the understanding whether you have great product or not because the first session actually gives a ton of useful information for and insights for growing your business well the idea is to track the activation into the key feature during the first session well probably during the second as well but you need to make sure that newcoming leads or just leads in general activate into the key feature because of course key feature is created to give the value of your product and once they give the value they move to the next step and another important metric for you which is conversion to the first subscription once you hear cutting it means your business is great you give value and you can plan something it really depends on the type of product how you're going to track the conversion into the first purchase that could be tracked daily could be tracked weekly monthly so really depends on the business and depends on the segment you're working on whether it is b2c or b2b or probably b2g but the conversion to the first payment is not the end of this funnel what comes next that is the conversion to the second purchase and again and again and again so you're also going to track how long your customers are going to stay with you and you're going to track another metric important for your business which is ltv so that is it for today and in the next video i'm going to tell you about the business metrics that you're going to check along with the ones that i've just covered so stay tuned see you