Understanding Funnel Metrics
Funnel metrics are essential tools that measure the effectiveness of each stage in a process. They offer insights into user behavior and the overall performance of your funnel.
By analyzing these metrics, you can determine how many users progress from one stage to the next and identify where they may encounter obstacles.
This analysis helps organizations visualize changes, identify drop-off points, and optimize each stage to enhance overall performance.
How to Create Funnel Metrics
Follow these steps to create and use Funnel Metrics effectively:
1. Provide a Field Name and Description
Field Name: Enter a clear and descriptive name for your Funnel Metric to ensure it’s easily recognizable later.
Field Description: Include a brief description explaining this metric's purpose and the rationale behind its creation.
2. Choose a Data Type
Select the appropriate data type from the available options: 'Number,' 'Percentage,' or 'Currency.'
If the Funnel Metric is related to cost, choose 'Currency' and select the relevant currency unit.
3. Select Channel Type and Object
Based on your needs, select either a Single Channel or Multi-Channel type:
i. Single Channel
Channel Names: Choose from the list of available channels.
Object Type: Select the relevant object type associated with the chosen channel. If you select 'Single Object,' you can choose from a list of objects relevant to that channel.
ii. Multi-Channel
Channel Names: Check the boxes next to the channel names you want to include from the list.
Note: Google Analytics 4 supports only a Single Channel and Single Object.
4. Add Variables and Stages
Add Stages: Add the necessary stages for your Funnel Metric in this section.
Formula: Type the formula for the computation of the Funnel Metric stages in the space provided.
5. Choose the Trend
Select the trend type (positive or negative) that should be reflected in your reports.
6. Finalize and Create
Once you have filled in all the details, click the 'Create' button to finalize the Funnel Metric and use it for analysis.
Summary
Creating Funnel Metrics allows you to measure and analyze the effectiveness of each stage in a process. By following these steps, you can set up Funnel Metrics that help visualize user behavior, identify areas for improvement, and optimize your funnel for better performance.