Funnel analysis can help lift conversions

New Ideas in MarketingEssential news for marketers, summarised by YouGov
May 18, 2021, 9:47 AM UTC

It helps companies understand why people are abandoning their site.

Around six out of 10 online shoppers would abandon a cart, translating to a 69% cart abandonment rate. Funnel analysis could help marketers identify the underlying causes. Insights from the analysis must be leveraged to minimise the number of abandonments and increase the number of purchases.

The emails being sent to cart abandoners must include links to the store to enable purchase completion. Use strong and clear CTAs to further drive conversions. Companies may also experiment with visual CTA buttons.

Prominently highlighting discount coupons near the cart page can also amplify sales. Businesses should also personalise their online store, use SEO tactics for all branded content and optimise product pages with high-quality product images, visible prices and more.

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