Not easily answered without further info, best way for you to approach it would be to use comparatible service (be it shopify, attlasian, wix) and do your own market research on potential customer base as well as CVL.
If you need help it would be fun to digg in, did a lot of research in this area for startups I was working my DD magic on.
Answered 4 years ago
The first step to reporting on a funnel is knowing what your key performance indicators (KPIs) are. It starts at the top of the funnel with your efforts to drive awareness, perhaps organic traffic stats or ad performance, continues through activation and engagement, and ends with maximizing the lifetime value and profitability of every customer.
One of the challenges in properly monitoring a funnel is that your data is in different places and looking only in one area can be deceiving. You could drive up click-through rates and website conversion by making more audacious claims but cancellations could skyrocket and kill your most important stats. You need to look at all of your efforts and how they affect each other.
At my startups, when I begin to have enough data to monitor and analyze, I generally create a comprehensive Excel spreadsheet that I plug all of my numbers into weekly. I always plug in raw figures like impressions, clicks, etc., and set my spreadsheet up to figure out the averages, conversion rates, growth rates, etc. I have separate tabs for monitoring my largest traffic sources, the most important browsers, and other key segments. One of the reasons for this is because I have had times where a product change we were certain would improve our metrics did not have much of an effect, and then we found that it improved our metrics for all browsers but broke in Firefox. It was just the right situation to look like no gains on the surface but, once we noticed and addressed Firefox, the feature was a huge winner.
Picking the right metrics, creating a holistic dashboard and monitoring these regularly was the difference between us making the right product and marketing decisions and not. I cannot stress enough the importance of monitoring your funnel in a way that lets you see the whole picture at once.
These are the kinds of solutions I like helping founders with because they can completely transform a business and turn a good founder into a great one. Let me know if you'd like to chat!
Answered 4 years ago