Event Funnel
Last updated
Last updated
How much time does it take our user from their first moment to their value moment (eg. from Account Created to order Placed)?
Of all users who created account this year, how many of them actually placed their first order within 1 day, 7 day, or 30 day?
Does this rate varies across different customer types?
Has we been doing better over time at improving this rate?
Comparing the 2 funnels below, note that although the Number of Orders are the same, the Number of Invoices are different (1,482 vs 1,457)
The orange metric funnel doesn't care if those Invoices came from the same batch of Orders placed in the month. It simply counts all invoices being issued in said month, and inherently counts invoices coming from the orders from even earlier months. Meanwhile, the green event funnel tracks all orders placed in the month and whether these exact batch of orders got invoiced. This is a truer representation of your Invoice Leadtime or Monthly Invoicing Rate.
An event funnel requires the set up below:
Create a Blank Chart and find Event Funnel in the Chart Configuration
Select all the events in the order you would like to see.
Click the + icon to add more events. You can select as many event as you'd like.
If you haven't yet created your events, check out this
You set up a funnel of step 1 - Account Created and step 2- Order Placed, with a Conversion window of 7 days.If a customer did Create an Account on day X, but they placed their first order 30 days after X, then this customer is only counted in step 1 but considered Drop-off at step 2 because the window required was surpassed.
Conversion Window dictates whether or not an action is considered "converted". Only when the following events were performed within this window can they be counted in step 2, 3, 4 of your funnel.
Adjust the number as you would like your funnel to measure. Default option is 7 days.
You can click on the Days menu to change the unit to Weeks, Months, Quarters or Years
Every funnel needs a subject to follow through all steps. Simply select the person or thing you want to anchor on across every step.
For example:
A User funnel will track how many user made it to step 2 from all the users who completed step 1.
An Order funnel will track how many Orders were successfully delivered in step 2 from all the Orders placed in step 1.
With Presight event widgets, not only can you count the total times an event is performed or the number of subjects who performed it, you can also choose to measure different things in your funnel, like Dollar Amount, or Number of Products.
By default, Presight funnel will count Total Events (or the number of times each events were performed)
You can choose other measure, like Unique Tracking Subjects, or other applicable metrics already existed in your workspace.
Even more, you can also dynamically aggregate something else from the table, like COUNT DISTINCT (User Phone Number)
You can extract Converted and Drop-off Items (Users, Orders, Products...) by right-clicking at the chosen step:
A records table will show up for the detailed information of the Items.
