A new report revealed that most funnel analyses deliver misleading data, having missed important customer interactions on company websites. The resulting data, which can be less-than-complete, ambiguous, or even confusing, could end up preventing companies from improving upon their customers’ digital experiences.
The report is from Heap, the San Francisco -based digital analytics firm, which published its findings in the company’s latest Digital Experience Insights Report.
According to the report, nearly 60% of funnels miss an interaction associated with lower conversion and that in 63%, an alternative path to conversion is not being tracked. Moreover, for every user action being measured with a traditional funnel, nearly 20 interactions remain untracked and unanalyzed.
Funnel analysis is one way of understanding the steps required on a website to reach a specific outcome, and how many users get through each of those steps. The ultimate goal is to induce website visitors to make a purchase, a step often called “conversion,” with the funnel analysis showing where the website visitors are dropping off along the conversion path and not completing a purchase.
This explains the release of Journey Maps, which Heap says is the firm’s analytics tool to help companies develop or improve the website digital experience for their users and visitors, with the goal of attracting, converting, and retaining customers. Journey Maps does this by giving companies a complete picture of the varied paths that users take while online, eliminating blind spots in the customer journey and identifying previously unseen user behaviors. In turn, digital teams are able to more quickly optimize product and user experiences to increase conversion. “Our goal is to arm the people building digital products with the data and insight they need to create something users love,” said Dan Robinson, chief technology officer (CTO) of Heap. “Understanding the reality of what users do is a key step to building a winning product. Because our platform starts from a complete dataset, we’re uniquely able to help digital builders move beyond gut instinct to confident, fast decisions that drive real business results.”
Author Information
Alex is responsible for writing about trends and changes that are impacting the customer experience market. He had served as Principal Editor at Village Intelligence, a Los Angeles-based consultancy on technology impacting healthcare and healthcare-related industries. Alex was also Associate Director for Content Management at Omdia and Informa Tech, where he produced white papers, executive summaries, market insights, blogs, and other key content assets. His areas of coverage spanned the sectors grouped under the technology vertical, including semiconductors, smart technologies, enterprise & IT, media, displays, mobile, power, healthcare, China research, industrial and IoT, automotive, and transformative technologies.
At IHS Markit, he was Managing Editor of the company’s flagship IHS Quarterly, covering aerospace & defense, economics & country risk, chemicals, oil & gas, and other IHS verticals. He was Principal Editor of analyst output at iSuppli Corp. and Managing Editor of Market Watch, a fortnightly newsletter highlighting significant analyst report findings for pitching to the media. He started his career in writing as an Editor-Reporter for The Associated Press.
