Conversion Funnels help you track customers conversion paths. They give you the opportunity to recognize where your customers drop off before placing an order.
Common question we get about the funnels is:
Why don’t they display all completed orders my online store had under “Placed an Order”?
This happens because funnel reports only capture people who go through all previous steps specified for the funnel before reaching the final step, placing, and order. For instance, when someone buys by clicking on an instant checkout option, they don’t add a product to cart – instead, they go to the checkout page directly.
Funnels in Metrilo break down a complicated process into a few simple steps and show you how many people move between those steps. Metrilo also shows you how much time it usually takes for a customer to move from one step to another. In the following example, 15.13% of people who viewed a product added it to their shopping cart and it usually takes 1:29 minutes to do so. Each funnel report is by default generated for the last 7 days. You can run the report for a different time period using the period selector at the top right.
When you open the “Funnel Reports”, you can choose between three predefined funnels that Metrilo automatically generates for you:
Shopping Cart Funnel
This funnel highlights the process between “Added product to cart” and “Placed an order”. This is important funnel for your business because it shows you how your clients behave after adding a product to the cart – if they complete the purchase or abandon the cart instead.
This funnel shows you a more extended path – from the moment your clients first view a specific product to the final purchase of this product.
Content Marketing Funnel
This funnel tracks the behaviour of customers, who found your site through your content marketing efforts (blog). You’d see how many of those who read an article (you can see differentiation by campaign/ article) completed a purchase.
Right below the graphic, Metrilo shows you important indicators regarding this funnel:
- Completion rate (The percentage of people who completed all steps)
- Average completion time (The average time your client takes to complete a purchase)
With Metrilo’s Funnel Reports, you can break down the funnel reports for advanced analysis.
You have the options to break the funnel report by different parameters such as:
Use of Funnels
The Conversion Funnels are useful to track your customers’ behaviour and optimizing in two general directions – marketing efforts and user experience.
Using a funnel, you can identify your top traffic sources and concentrate your marketing spending there, which is bound to have a positive effect on your conversion rate and, ultimately, revenue. Also, you’d eliminate campaigns that mislead people who only increase the bounce rate of your site.
How funnels can help you create a better experience for your customers? You’ll see where along the journey from landing to purchase you lose your customers – are product categories hard to navigate; are product pictures large/good enough; do you provide viable product descriptions; does your check-out work smoothly? By clearing those issues, you should get a higher conversion rate.
The Conversion Funnels in Metrilo are yet another tool that helps you get a comprehensive view of how your business is doing.