How to Create a Funnel Report [Quick Guide]

You’ve probably heard that having a full, flowing funnel is critical for a business. But what does that mean and how do you know when you are on the right track?

Funnel reports are key to understanding the ins and outs of your business. With a detailed funnel report, you can see where the customers are at every stage of the sales process. The funnel report can show how many leads you are generating, which deals are being negotiated, which contracts are being closed, and ultimately how many sales are being made.

Knowing your funnel at all times can help ensure that the funnel doesn’t dry out and you are left with no leads or consistent sales. So let’s take a look at what exactly are funnel reports and how to create a funnel report.

What is funnel reporting?

Before you understand funnel reporting, you need to understand the funnel. The funnel is essential in mapping the path customers take to purchase, from brand awareness to sales. Keeping a funnel full of ongoing leads is important for a thriving business.

Therefore, a funnel report can shed some light on how a customer is discovering your brand and what drives them to either go down the funnel to purchase or drop off somewhere along the way.

The funnel report can determine how effective your marketing efforts are, the number of people getting into the funnel, and conversion rates. This report can also provide insights into ongoing lead generation and sales so you can see how many leads you are generating and how many are in the process of signing contracts or making purchases.

1. Awareness

When the customer first steps into your funnel, it is done through awareness. There are many ways a prospect can find out about your brand for the first time, whether they hear about your product through word of mouth, see an ad on Instagram, or drive past your billboard while driving to work.

2. Interest

Once the customer finds your brand and likes what they see, they’ll likely start researching. Reading reviews, searching your FAQ section, and comparing with competitors will likely happen at this stage.

3. Decision

Now the prospect will seriously think about making a purchase. You can consult with a sales rep or ask for a quote.

4. Action

As the customer moves through the funnel, they use the information they gathered from the previous steps to decide whether or not to make a purchase. This is why investing in excellent branding, marketing, and customer service is so important as they all have an impact on the whole funnel process and can ultimately be a critical situation for potential customers.

Ready to start reporting? How to create a funnel report. These reports can usually be generated using tools such as Google Analytics. To facilitate Take a look at the dashboard and reporting softwarethat holds all of your analytics, reports, and dashboards in one easy-to-navigate area.

1. Input data

First and foremost, you’ll need to enter data from the number of customers who clicked your website link to the number of sales they made and everything in between. This can be automated and accessed for you via Google Analytics or HubSpot. You also set the number of building blocks to distinguish the different phases.

2. Filter

Next, you can filter out unnecessary data. The platform you use to build your funnel report has basic and / or customizable filtering options.

3. Organize in groups

To better analyze the report, you can organize the funnel according to different marketing methods or products sold. For example, you can create a funnel breakdown that separates the types of marketing used.

4. Visualize

Now the platform will show the funnel report based on your filters and breakdowns. You can see how many people have found your website and then compare to tell how many people have made a request, signed up for your newsletter, and / or bought your products or services.

5. Write down strengths and weaknesses

Record conversions with your funnel in front of you. See where customers are staying and where they are from. Your funnel report could show that a lot of people are coming from social media, although most of your efforts have been in email marketing, where fewer people convert into sales. Writing down your observations will help you adjust your future marketing strategies.

1. Conversions in the next step

One of the simpler funnel reports is for conversions in the next step. This funnel report shows the conversion rates between steps. So if 500 people see your social media ad and 100 click on your website, the conversion for this step is 20%.

2. Cumulative conversions

Similarly, cumulative conversion funnel reports also visualize the conversion, but compare the numbers of each stage with the starting stage. This is most helpful when making comparisons to competitors or previous funnel reports.

3. Trends

A funnel trend visualizes changes in conversion rates over time, for better or for worse. This will help you determine which marketing strategies are working and which are not over time.

4. Time to convert

How long does it take for a potential customer to make a purchase from the awareness to the action phase? A time-to-conversion funnel shows how long it takes a customer to go through each stage of the funnel.

5. Frequency

A frequency funnel report can help you figure out which stage customers are most successfully attracted to or where customers tend to drop out.

Use funnel reports to improve marketing strategies

A funnel report is an invaluable tool for tracking the evolution of prospects into customers who make purchases. Knowing how customers become aware of your brand and what causes them to ultimately give up or make a purchase can help you hone your marketing skills.

A funnel report allows you to visualize the weaker parts of your marketing strategies in order to improve them while highlighting successful – sometimes surprising – components of the funnel.