Time stamping funnel reporting

Time stamping funnel reporting

It seems obvious, but a lot of the time, we are more concerned about the volume through a funnel, rather then the time of each unit through a funnel.

An example of this is in a company sales funnel, lets assume theres 5 stages – lead (SQL), first meeting, quotation, contract and finally signing – we would usually monitor each of the 5 stages like this –

first meeting2336

This view is effective at a top level, since it gives us a snapshot of performance at a moment in time. But this view also neglects quite a lot of useful information. Firstly you can probably already tell, its not the most granular level data, so we’re already dealing with a summary of information. 

Next, whilst it tells us conversion through the funnel at a point in time, its limited in terms of being able to tell us a few additional data points which can help improve our understanding of where we can optimise. A couple of questions that would be useful to optimise the funnel, which this view is limited at helping us resolve –

  1. How long does a lead stay at a stage in the funnel?
  2. What is the cohort throughput through the funnel, i.e. based on the date the lead enters the funnel, how long does it take to process the lead.

Both questions are related, but require a new view to better process

SQLfirst meetingquotationcontract
Client 11/1/20222/1/20223/1/20224/1/2022
Client 22/1/20224/1/202213/1/202214/1/2022
Client 32/3/20224/3/202213/3/202223/3/2022
Client 41/3/20228/3/202213/3/202224/3/2022
Client 51/4/20222/4/20223/4/20224/4/2022

Here we have a more granular client by client view, and as you can see the dates are added instead, whilst this is more detailed, I prefer this view for flexibility and the freedom it provides that lets us get a better understanding –

  1. We can see how long it takes an individual company
  2. We can see how long it takes a cohort
  3. We can see how long a company stays in a specific stage
  4. We can see which stages have the biggest friction, and by how long, and by how many companies

It therefore makes better sense that your funnel reporting follows the later example for more granular analysis.

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