Funnel Analysis is a method used by product managers to track and understand the stages that users go through before completing a desired action. This method helps identify the drop-off points in a user journey to optimize and increase conversion rates.
- Funnel Analysis provides product managers with insights into user behavior, enabling data-driven decisions to improve user experience and increase engagement.
- It helps in identifying bottlenecks in workflows, allowing teams to streamline processes and improve team dynamics by addressing specific areas of concern.
- Utilized to prioritize features that improve conversion rates.
- Helps guide discussions on user experience improvements.
- Used to enhance the understanding of user behavior patterns in AI applications.
- Conversion Rate
- Churn Rate
- User Engagement
- Product Management Funnel: 9 Funnels PMs Should Track
- What is a Funnel Analysis?
- How to Build and Think About Your Product Funnel