Successful Product Owners implicit good management of the product experience perfectly addressing the needs of the users. Owning an app would show a collection of experiences where UX needs major attention.
Comprehending the triggers prompting users to turn to your app and showing them your product journey absolutely in a seamless vogue is a major task. Doing so would be one of the prominent achievements in establishing a strategic conversion funnel ranging from user’s onboarding to measuring user’s LTV, etc. Hence, the conversion funnel is the key to measure the user’s delight via a simplified in-app experience.
But, prior to going in depth, it would be appropriate to enlighten what is funnel all about?
Involving a series of events, Funnel shows the number of users who complete each step to achieve the overall goal. Also, it is known as a funnel because at the top, usually starting with a large number of users they get fewer at the bottom. Hence, its effective in calculating the conversion rates depending on the user’s actions over the intended event. Funnel’s paramount functionality is that it helps in analyzing the users achieving a goal.
Suppose, in an E-Commerce app, Funnel is created for Article View è Add to Cart è Checkout è Transaction, where 100 users view an article, 60 users put it in “Add to Cart” 30 users then Checkout and 20 users make the Transaction. This shows, that in total 20 users out of 100 reached till the final event and performed the transaction. Therefore 20% is the conversion rate.
Thus, to help the advertiser, AdGyde shows the complete funnel, filtering out the user’s data absolutely in the right way while benefitting him from measuring the Funnel metrics and how users flow within it.
Enlighten the below-mentioned pointers to better understand the concept.
Retention Funnel simply means preventing users from leaving the app. Also, it’s a process of knowing the user’s loyalty towards maximizing profits. It is true that focussing more on valuable users would lead to qualified prospects enhancing the probability of maturing the revenue without much concentration on the user base.
Prior to creating a Retention Funnel, it is essential to apprehend the Pareto Principle which states that 20% of the users will generate 80% of the revenue. So, it’s better to spend time and cost on the right prospects.
Suppose, there is a food app installed by 50 users, 40 users interact within it and 10 users uninstalled the app for any of the reason. Then, out of 50 users, 40 remained left on the app which shows retention. This means that, with an identification of the number of users, an advertiser would be able to analyze and select the best retention strategies for his users.
Therefore, AdGyde funnel metrics would show the step by step flow in detail abreast with the identification of the users achieving a goal.
Mark that, any potential revenue can be depleted with a cause of poor UX. So, when it comes to the monetization and growth, app marketer needs to be very obsessive in the product journey that results in transactions or making payments.
For Example, the In-App Purchase Funnel is highlighted especially when an advertiser loses the real money. Imagine if your users are discarding the checkout screen and look for the help then, perhaps you are missing some major information (like shipping details, mode of payment, etc.) on the checkout screen. Such kind of information which are available too late in the funnel may lead to abandonment in the purchase over which advertiser needs to pay attention.
Thusly, AdGyde Mobile Measurement Tool helps you in making better ways while taking the rational decisions of how to make your app more user-friendly simultaneously leading to more transactions.
Level Completion Funnel:
Gamers are like a fickle bunch. For most of the gamers, ‘shiny new toy’ is widespread. Simultaneously, some gamers easily sit with the same game they have been playing prolonged and still have a blast. Such is the gaming scene where advertisers need to foster loyalty amidst his gaming audience.
Thusly, this form of the funnel would let you know about how your users are navigating along with a level completion journey especially when it comes to the gaming app. It could also leave a major impact on the user’s LTV and retention as well. However, there could be some levels as compared to the preceding levels that may restrict the user to proceed with further levels. Here, there is a need to focus on the levels accordingly through which users may play the game continually with more interest. Definitely, a product owner would not wish to make it repetitive because users would then start losing interest in the long-term aspects. However, make it interesting or else, many users will just kill the app.
Constant measurement of the Funnel would assist you in seeing the changes affecting your users. Especially, all the bottlenecks in the process could be easily taken into consideration. Henceforth, constant measurement and tweaking can seriously improve the number of conversions.
The app marketers could be assisted via AdGyde Mobile Measurement Tool with the right data abreast with a correct accuracy enabling you to improve your marketing strategies boosting your user’s engagement and retention. Also, it helps in identifying the user’s navigation and measures the paths that suit and works the best. AdGyde enables the advertisers to measure the conversion rates unearthing the reasons for success.