Funnel analysis involves examining a sequential sequence of user actions, either on a website or an app, that leads to a specific end goal. Essentially, it helps in comprehending the steps necessary to achieve a desired outcome on a digital platform and illustrates how many users progress through each of these steps.

Funnels serve to identify how users navigate through a website or app before taking a conversion action, offering a clear visualization of the entire process. By deconstructing each stage of the funnel and comprehending the motivations that prompt customers to transition from one stage to the next, businesses can devise tailored strategies to influence outcomes at each step of the funnel.

For instance, let’s consider an eCommerce company with the primary objective of prompting website visitors to make a purchase, commonly referred to as a conversion. The steps involved in making a purchase on such a platform typically include visiting the website, browsing product categories, adding items to the shopping cart, proceeding to the checkout page, and completing the purchase. These sequential steps constitute the funnel.

For a given week, let’s assume the following number of users traverse each stage of the funnel:

– Visiting Website: 1000

– Browsing Category: 800

– Adding to Cart: 600

– Proceeding to Checkout: 300

– Completing Purchase: 200

[Funnel Visualization]

Various Types of Funnels include:

– Marketing Funnel

– Sales Funnel