It’s always been possible to view a series of events through a funnel, but now, we’ve added the functionality to sum a property (opens in a new tab) on those events and visualize those values through a funnel. This type of analysis sets the focus on the outcome of the funnel being completed, not just that the conversion rate of the funnel is high.
The most exciting use case unlocked from being able to view the sum of a property moving through a funnel is what we call Revenue Conversion. This analysis can help answer the question: “a segment of users might all convert, but how much dollar value of items did they have at each step, at which steps was this money lost, and how much did they ultimately convert with?”
A couple instances where Revenue Conversion analysis can be useful are:
- Can determine which page a user lands on (sale, men’s wear, etc) ends up with the most money spent at checkout. All pages might have similar conversion rate to purchase, but some might drive more revenue at checkout.
- Can shift marketing spend to the industry (Healthcare, Fintech, etc) that have the highest average revenue when they purchase.
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