Which analysis method tracks conversion through sequential steps in a process?

Funnel analysis is a method specifically designed to track conversion through sequential steps in a process, which makes it particularly effective for understanding how potential customers progress from awareness to making a purchase or taking a desired action. This analysis visualizes each stage of the customer journey, identifying where users drop off and where they successfully convert, allowing businesses to optimize each part of the process to increase overall conversion rates.

By focusing on the distinct stages, funnel analysis helps in determining specific points of friction or barriers within the sequence, enabling businesses to make informed decisions about improvements and strategies to enhance user experience and drive conversions. This systematic approach distinguishes it from other methods, such as customer journey mapping, which captures the overall experience rather than the sequential conversion process, or impact assessment, which evaluates the broader effects of a project or decision rather than detailed steps in a conversion funnel. Additionally, value proposition design focuses on the alignment of a product’s offerings with customer needs but does not specifically track the sequential steps in a conversion process.