Conversion rate optimization (CRO) is the systematic process of increasing the percentage of website visitors who take the desired action—be it filling out a form, becoming a member, or making a purchase. Funnel analysis is one of the most powerful tools CRO experts have in their arsenal.

Continue reading to learn more about improving CRO through funnel analysis.

What Is Funnel Analysis?

Funnel analysis is the process of analyzing the various stages that a customer goes through when making a purchase. This can be used to identify any bottlenecks in the process and to optimize the customer experience.

The typical stages in a funnel are:

  • Awareness — The customer becomes aware of the product or service.
  • Interest — The customer expresses interest in the product or service.
  • Consideration — The customer compares the product or service to other options.
  • Purchase — The customer makes a purchase.
  • Loyalty — The customer continues to use the product or service and may become a brand advocate.

Funnel analysis can be used at each stage of the customer journey to identify areas that need improvement. For example, if customers drop off at the consideration stage, this could be due to a lack of information about the product or service. In this case, more information could be provided to help the customer make a decision.

What Are the Benefits of Using Funnel Analysis on a Website?

1. You Can Identity Where Your High-Quality Visitors Come From

 

As a business owner, you always want to know where your high-quality visitors are coming from. After all, these people are most likely to convert into paying customers.

Funnel analysis is one way to identify your best traffic sources. This is a process of tracking your visitors’ journey from the moment they first land on your website to the moment they make a purchase.

There are several different tools that you can use to track this data, but one of the most popular is Google Analytics. Once you have set up funnel analysis in Google Analytics, you can see which traffic sources send you the most high-quality visitors. This data can be extremely valuable in helping you to focus your marketing efforts on the proper channels.

2. You Can Help Stakeholders Make Important Decisions

Funnel analysis is a powerful tool that can help businesses make crucial decisions. By understanding how customers interact with a company’s products and services, businesses can identify areas where they need to improve. Additionally, funnel analysis can help companies to track the effectiveness of their marketing campaigns and sales efforts.

3. You Can Find Your Sites High-Traffic and High-Exit Pages

Funnel analysis is a powerful tool to help you identify your website’s high-traffic and high-exit pages. By understanding which pages are getting the most traffic and which pages are causing visitors to leave your site, you can make informed decisions about where to focus your optimization efforts.

For example, if you have a high-traffic page with a high exit rate, you may want to consider adding more content to that page to keep visitors engaged. Or, if you have a high-exit page that isn’t getting much traffic, you may want to consider redesigning that page to make it more engaging.

Final Thoughts

Funnel analysis is a process that can help you increase your website’s conversion rate. By understanding how users interact with your site, you can identify areas where improvements can be made. 

If you want to learn more about taking advantage of this technology, check out Funnel Builder Intent Data from Visitor InSites. With this tool, you can communicate with your prospects and boost your business performance. Message us to get started today.