Revenue Insights for Funnels
LogRocket now offers the ability to view revenue insights associated with specific funnels. You can choose to manually enter an average value for each conversion or attach one with a custom event, and we will display the loss of revenue associated with lost conversions.
Within the funnel creation flow, you can toggle on the 'Revenue Insights' option.
For the manual option, you can enter an estimated average revenue from each completed conversion as well as select a desired unit for display.
For the custom event option, you can choose from a dropdown of the custom events that your application is sending to LogRocket. We will automatically select and attach the 'revenue' property from the selected custom event.
Custom event information
For more information on how to send custom events with properties to LogRocket, check out our SDK documentation on custom events. Please note that we are specifically pulling the revenue property for application here, so ensure that your custom event is set up properly.
Understanding the data
The 'Overall Conversion' percentage shows the funnel conversion from the first step to the last step. The 'Revenue Opportunity' takes the average transaction value and the number of lost conversions throughout the funnel and calculates the estimated potential revenue opportunity if all lost conversions were successful. The 'Average Transaction Value' calculates the average value per transaction based on the data sent to us via custom events or entered manually on the configuration page.
Funnel Insights and Revenue Data
We've updated the Funnel Insights table to include information on estimated revenue opportunities and conversion impact associated with each insight.
The Conversion Impact column shows the impact that each issue had on the conversion rate. The Revenue Opportunity column shows the estimated potential value that could be gained if the specific issue was fixed. This is calculated by taking the average transaction value noted at the top and multiplying it by the number of lost conversions.
Updated 3 months ago