Understanding why users convert or do not convert through your funnel process helps you make improvements to your apps - leading to the ultimate goal of converting. At Localytics, we understand this. That is why we have released an updated version of our funnel tool that gives our Enterprise customers the ability to drill down for further information on funnel conversion rates.
You can now expand funnel steps for better insight into what is happening to your users throughout the conversion process.
The conversion trend chart displays the same day conversion rate for all steps in the funnel. If this is going up over time, you can see that more users are moving through the funnel within one day than have in the past. This can also give you insights into how changes in your app are impacting your conversion rates over time.
The event tables give great insight into what people did instead of converting to a certain step as well as what steps converted users took prior to converting. This information shows you why people drop off and why they convert.
The drill down table splits your data by converted vs. non-converted users. This reveals trends in users. If users on one device are converting at a much lower rate than users on other devices, perhaps the user experience on the low converting device is sub optimal. In the example below, you can see that users that came from a Facebook campaign convert at a lower rate than organic users. Perhaps the campaign is not targeting the right segments on Facebook.
Let's look at an example of how the new funnel updates can be used to drive positive change.
Peter is a product manager for an mCommerce app and needs to increase revenue generated through the app this month to meet his company's goals. To this end, he is really interested in what drives people to actually purchase from his mobile app. He has a funnel with four steps:
1. Viewed Product Page
2. Added the product to cart
3. Added billing information
4. Checked out
Peter wants to eliminate drop off from steps 3 to 4. In the Localytics funnel analysis, he selects the "Checked out" step to analyze what is happening. He can quickly see in the events table that users who dropped off after entering billing information receive "check out errors." Peter wants to get this to his developers to investigate how to eliminate these errors that are costing him revenue. He can also see that users who completed this step clicked the "add coupon" link. This sparks a great idea for an in-app marketing campaign - offering coupons to users while they are filling out their billing information. After running this campaign, he will be able to see if the campaign had the desired results in increased revenue and funnel conversion. These new funnels along with Localytics in-app messaging could give the revenue boost needed to achieve his goals.
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