Product analytics-Funnel Analysis

1. Introduction to the
Company
Analytics - Segmentation

2. Analytics –Funnel Analysis
Student Name: Tushar Sharma
Email id: tusharmps@gmail.com

3. Problem Statement
You work for an online SaaS company(personal expense management like
Walnut or Mint.com) as a PM. The number of users visiting the website is
quite large but the final conversion rate is quite low. You feel creating a
funnel and analysing it will help you find out why users are dropping off.
Create a blueprint of the funnel and mention how you will analyse the
same to improve conversions.
Note: Submit your file in PDF format.

4. My solution will be for Walnut app which is an “App only” product. Though
there can be different journeys for user actually downloading and using the
app- keeping in mind the problem statement, my solution will only cover the
journey starting from the Walnut website to actual conversion.
Assumption:
1. Conversion here means choosing an offer from Walnut prime & making a transaction

5. Funnel
Lands on getwalnut.com website
Land on playstore/iStore page
Sign up using email iD
Verify Name & Phone no.
Provide Pan No. in
Walnut Prime
Select offer and
make payment

6. Metrics
Funnel Step Metrics
Land on getwalnut.com Visitors/Traffic source(Search,Social,Email etc)
Bounce rate/Traffic source
Average session duration/Traffic source
Visitors who click on CTA/Total visitors
Land on Playstore/iOS page
for Walnut
Visitor/Traffic source(Search,Social,Email etc)
Bounce rate
Average session duration/Traffic source
Visitors who click on CTA(install)/Total visitors
Sign Up using email Id Bounce rate
Verify Name and Phone no. Verified users/Total users
Failed verifications/Total verifications
Provide Pan no. in Walnut
prime for verification
Failed verifications/Total verification attempts
Choose an offer and make a
transaction
Paying users/Total users
Paying users from each traffic source

7. Suggestions for increasing conversions
1. Visitors/Traffic source: As the no. of visitors to site are high with minor conversions- it would make sense to look at the
visitors from all channels(Search, Social, Email etc) and focus resources towards the channel which has least bounce rates
on first two steps of the funnel. For example, if the traffic coming from Paid social is leading to more sign ups then resurces
should be allocated more efficiently towards paid social
2. A/B Testing on getwalnut.com: Different variants with the following variations should be tried to arrive at the best
version-
a. CTA: The Call to actions on Walnut’s Website aren’t too clear and tempting to the viewer. The right placement combined
with an eye-catching message is the perfect combination to having a conversion friendly Call to action.
b. Video: Walnut seems to have a presentable Video for their product but one that is hard to locate because of poor
placement. The ideal location for this video would be the Hero section of the Homepage.
c. Tag line: Walnut’s tagline doesn’t seem to be sufficient to help the customer understand the purpose of the product’s
existence. It gives a very vague picture of the problem they try to solve at large. A more specific USP should be used
3. User verification: As this is a requirement for user conversion, it would be great to look at the failed verification/Total
verifications metric to derive insight regarding any technical glitches that might be causing it.
4. Walnut Prime location on App: The location is not clearly visible despite this being the CTA for conversion. CTA for
exploring prime option should be on the home screen rather than on the fold
5. PAN verification: As this is a requirement for conversion the metric “Failed verification/Total verification attempts” is very
useful to identify any technical issues that might be causing failure.