A funnel chart is a graphical tool used to illustrate the progressive stages of a process, from beginning to end. It typically depicts the percentage or number of items or participants at each stage. The stages are typically represented as bars, with the largest at the top and tapering to the bottom. Funnel charts can be used to represent a variety of data, including the number of sales leads at each stage of the sales process, the number of website visitors at each stage of the website’s conversion process, or the number of potential students at each stage of the admissions process.
Funnel charts can be helpful for understanding where most of the activity is taking place, and where there may be opportunities for improvement. For example, if the majority of website visitors are not converting to customers, the funnel chart may reveal that there is a problem with the website’s design or that the website is not providing the information that potential customers need. Below, you’ll learn about when to use a funnel chart, how to create a funnel chart, and more.
When to Use a Funnel Chart
A funnel chart is a great way to visualize the percentage of a population that passes through each stage of a process. This chart can be used to track the number of leads that are generated at each step of the process, and the number of customers that are converted from leads.
Types of Funnel Charts
There are many different types of funnel charts, and each has its own strengths and weaknesses. The most common type of funnel chart is the sales funnel, which is used to track the progress of potential customers through a sales process. Other types of funnel charts include the marketing, the website conversion, and the product launch funnel.
The sales funnel is the most common type of funnel chart, and it is used to track the progress of potential customers through a sales process. The funnel typically has five stages: awareness, interest, desire, action, and profit. The goal is to get potential customers through the first four stages and into the final stage, where they make a purchase and become customers.
A marketing funnel is similar to the sales funnel, but it is used to track the progress of potential customers through a marketing process. The marketing funnel typically has four stages: awareness, interest, desire, and action. The goal of the marketing funnel is to get potential customers through the first three stages and into the final stage, where they take action and become customers.
The website conversion funnel is used to track the progress of potential customers through a website. The website conversion funnel typically has three stages: awareness, interest, and purchase. The goal of the website conversion funnel is to get potential customers through the first two stages and into the last stage, where they make a purchase.
The product launch funnel is used to track the progress of potential customers through a product launch. The product launch funnel typically has four stages: awareness, interest, purchase, and loyalty. The goal of the product launch funnel is to get potential customers through the first three stages and into the final stage, where they purchase the product and become evangelists for the product.
Create a Funnel Chart
A funnel chart is a great way to visualize the stages of your sales or the progress of a particular task. It helps you see where your leads or users are dropping off so you can improve your process. There are a few different ways to create a funnel chart in Excel.
If you want to create a funnel chart with a data series, you’ll need to create a data table with the following information first: the name of the stage, the percentage of leads or users at that stage, and the total number of leads or users. Next, select the data in the table and create a funnel chart. To do this, go to the “Insert” tab and select the “Funnel chart” icon. Excel will automatically create the funnel chart based on the data in your table. You can customize the chart by changing the colors, adding labels, and more.
You can also create a funnel chart with a stacked area chart. First, you’ll need to create a data table with the name of the stage, the percentage of leads or users at that stage, and the total number of leads or users. Next, select the data in the table and create a stacked area chart. To do this, you can go to the “Insert” tab and select the “Stacked Area Chart” icon. Excel will automatically create the stacked area chart based on the data in your table. You can customize the chart by changing the colors, adding labels, and more.
These are a few ways in which you can create your own funnel chart.