Funnel Analysis Overview
Funnel Analysis is a powerful feature that helps you analyze user behavior and engagement within your product. This is made possible by Loops’ sophisticated tracking technology and data-processing capabilities.
Once you’ve created a custom funnel based on user events and goals, you can generate a funnel analysis that tracks user behavior at every step of the funnel – such as the number of users who completed each step, who completed them, and in what order. These insights will allow you to identify where users are dropping off in the funnel, and then make changes to improve the user experience and increase conversions.
Loops also takes analysis one step further by automatically surfacing any combinations of trends, segments and funnel steps that may require your attention.
Common use cases
What are some ways you can use funnel analysis to understand and eventually optimize the usage of your product?
Here are six common questions that a product team may wish to answer. For each question, we’ve provided an example of an answer that could be derived through Loops funnel analysis.
| Example business question | Sample answer |
| Which step in our “Activation Funnel” has the largest user drop-off? | The biggest drop-off occurs at Step 3 (“Payment”). |
| How long does it take for users to convert from Step 2 to Step 3 in the funnel? | The average time is 13 hours and 2 minutes. The median time is 22 minutes and 3 seconds. |
| Which users are most likely to complete the funnel (from “Sign-up to “First Payment”) within 7 days? | The group “OS - iOS” has a conversion rate that is 59.42% higher than the average of all users. This group comprises 32.81% of Total Users. |
| What other event sequences are users commonly following to complete the funnel? | The most common alternative sequence is: Step 1 → Step 3→ Step 2. It was performed by 4.03% of Total Users. |
| How does the conversion rate for Step 3 change over time? | The rate of users who converted from Step 2 to Step 3 decreased by 8.34% over the last 90 days. |
Who are the users that are most likely to drop off, and where do they do it? |
The group “Role - Developer” is converting at a rate 49.12% below the average of all other groups. For this group, 63.29% of drop-off occurs at Step 4. |