This is Part 4 of 5 in Indicative’s Behavioral Analytics 101 series, where we show you how to analyze your customer journey on our platform. You will learn to:
✔ Understand how frequently users are returning to your site or product
✔ Flag issues in your customer journey to quickly mitigate negative effects
✔ Optimize your customer journey by analyzing A/B test results
✔ Measure the impact of a specific step in your customer journey
✔ Master Dashboard tips and tricks
Measure the impact of a specific step in your company’s customer journey
What is a customer journey?
A customer journey is the sum of actions and experiences the customer goes through when interacting with your company’s site or app
Do customers convert to “Create Account” at a higher rate when they engage with the “Support Chat” feature?
Conversion rates in multi-path funnel analysis
1. In the Funnel tool, drag in 3-6 steps that are part of the product flow you want to analyze. In this example, we are using a sign-up flow for a SaaS business. Our events are Site Visit, Start Support Chat, and Create Profile. In this case, customers do not need to engage with the support chat before signing up, so we want to find out what impact the support chat itself has on converting visitors into customers.
2. Once you run the query (by clicking the play button), you will see a percentage between each of the steps in your funnel. That number represents the conversion rate between two steps.
However, it does not account for whether users started the support chat or not. We want to know the conversion rate for customers who engaged in the support chat, and for those who opted not to.
3. To indicate that Start Support Chat is an optional step, click the pushpin icon next to that step either in the query builder or on the graph.
4. We can see that the conversion rate is higher when customers engage with the support chat than when they do not. From this, we can infer that either 1) customers who engage with the support chat demonstrate greater intent and therefore are more likely to sign up, or 2) customers who engage with the support chat become more likely to sign up because of the positive experience.
Next up: Dashboards tips and tricks.
As always, check out our Knowledge Base if you have any questions.