This is the second installment of Indicative’s Behavioral Analytics 101 series, where we show you how to analyze your customer journey using Indicative! Consider these posts your crash course in answering fundamental marketing and product questions in Indicative.
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
For your reference, we also created a series of bookmarks that correspond with each of the blog posts goals. You can find them in Indicative, in the left navigation under Bookmarks, in the Behavioral Analytics 101 folder.
Quickly identify points of friction in your customer journey.
What are points of friction?
Points of friction are reasons why your customers aren’t moving through your funnel.
Is the “Create Profile” page on the subscription sign-up flow a point of friction that lowers the subscriber conversion rate?
Conversion rate to “Subscribe”
1. In the Funnel tool, drag in the steps that are part of the customer flow for subscriber conversion. In this scenario, the steps involved in subscribing include: Email Clicked, Site Visit, Create Profile, and Subscribe.
2. Once you run the query (by clicking the play button), you will see a percentage between each of the steps in your funnel — we call this the “webbing.” The number between the first two circles on the left represents the conversion rate from Step 1 to Step 2.
3. Click the pushpin icon on the Create Profile step of the funnel or in the query builder to unpin that step. This means you will be able to see the conversion rate when a user creates a profile versus when they do not.
4. Next, click Settings and under Path Exclusivity, ensure Exclusive is selected. This will enable you to measure the impact of the optional step on the conversion rate.
5. In this example, we can see that the conversion rate to Subscribe is 70.77% when customers create a profile, compared to 0.13% when they do not. We can interpret this to indicate that the create profile page is not a point of friction, and in fact may aid conversion, since more customers who create a profile tend to convert compared to those who do not.