Having funnel analysis tools that provide comprehensive analytical insights about where and why users drop off will solidify your business’s competitiveness in the long term.

In this article, we’ve compiled our favorite software and conducted an in-depth review for each, highlighting their main analytics features and pricing.

Summary of funnel analysis tools

• Funnel analytics refers to the analysis of events across all stages of every customer journey. It includes keeping track of user drop-offs, friction points, and conversions.
• The benefits of using funnel analysis tools range from creating personalized customer experiences to optimizing conversions at important touchpoints.
• Userpilot is a digital adoption platform (DAP) that fosters product growth through a variety of product analytics tools, including funnel analysis, among other useful features.
• Google Analytics is a freemium web analytics tool with powerful features for tracking, conversion, and retention, among others. (Freemium with paid pricing available on request).
• Hubspot is a powerful customer platform with a variety of hubs containing various features for tracking sales funnels, interpreting marketing data, and more. (Prices available upon request).
• Mixpanel is a product analytics software that interprets and represents advanced data into visual, easy-to-read reports. (Starts at $20/month).
• Hotjar is a product analytics tool best known for its heatmaps and session recordings tools for performance reporting. (Starts at $48/month).
• Heap is a digital insights platform that offers tools to boost conversion, retention, and satisfaction. (Prices available upon request).
• Amplitude is a digital analytics platform offering valuable insights into user behaviors through robust reporting tools. (Starts at $49/month).
• Want to get started with funnel analytics? Book a demo with Userpilot, and we will show you how!

What is funnel analytics in SaaS?

Funnel analysis is an analytical technique that involves tracking and analyzing users’ progress through a sequence of steps leading to a key conversion event.

Funnel analysis examines every stage of the customer journey, from the landing page to the end-of-sale, and provides actionable insights that help drive product growth.

Example of a conversion funnel.

Benefits of using funnel analysis tools

Companies that invest in funnel analysis tools have at their disposal the ability to analyze user behavior, improve conversion rates, and create personalized user experiences, among other major benefits.

Analyze user behavior to identify drop-off points in the customer journey

Funnel analysis tools let you visualize customer journeys on a chart so you can easily see the drop-off points.

This helps you get a crucial advantage in understanding the customer journey and identifying areas for improvement.

Optimize conversion rates at important touchpoints

Having funnel analysis tools at your disposal not only allows you to find friction points that occur during customer journeys but also provides you with the necessary means to address them.

These tools often have functionalities aimed at conversion rate optimization, such as A/B testing, session recordings, and so on.

Create personalized customer experiences

Conducting funnel analysis allows you to segment different customers into a variety of cohorts. This data lets you craft customized experiences for each cohort at every stage of the user journey.

For example, if you see a drop in the funnel after customers engage with a certain feature, you could trigger interactive walkthroughs to help them move forward in their journey.

7 Best funnel analytics tools for SaaS companies

There are several tools on the market offering funnel analysis functionalities.

It is equally important, then, to find the tool that is the perfect fit for your company. To help you narrow your choices, here are seven of the best funnel analytics tools in the market.

1. Userpilot – Advanced in-app conversion funnel analysis tool

Userpilot is a digital adoption platform (DAP) that fosters product growth through a variety of product analytics tools, including funnel analysis among other useful features.

Main features

Here’s a brief overview of Userpilot’s advanced analytics tool for conversion funnel analysis.

• Event tracking. You can set up which events are tracked or use its custom event functionality via advanced features to group events together as one distinct, trackable action. Userpilot can take all these collected data and visually represent it in a funnel.

• Funnel analytics. Userpilot’s funnel reports let you see which pages or actions most users get stuck on. You can track events, pages, or engagement with content. Additionally, the breakdown tab of funnel reports lets you visualize data based on which operating system, device type, or browser your users are on. You’ll also be able to filter breakdowns with more granular details such as country, signup date, or even user IDs.

• Path analysis. Userpilot also provides a path analytics tool that shows you the sequence of steps users take while interacting with your product. You can build a customer report limited to relevant data and build conversion paths that offer the greatest uptick in conversion rate.

• Retention tables. Userpilot lets you conduct retention analysis through cohort tables. These tables allow you to track user activity over time across various cohorts. You can segment these cohorts by location, demographic, or, most often, registration date.

• A/B testing. Userpilot makes it easy to run A/B tests to identify the most effective versions of your experiments. With built-in A/B testing for flows, you can quickly iterate and explore different variations based on user behavior. You can also measure the impact of each variation on key metrics like activation, retention, and upsell rate.

Pricing

Here’s an overview of Userpilot’s pricing plans:

• Starter. Starts at $249/month and supports up to 250 survey responses per month, 10 user segments, 15 feature tags, a built-in NPS dashboard, and access to third-party integrations (except HubSpot/Salesforce).
• Growth. Starts at $499/month and includes everything in Starter plus unlimited feature tagging, an in-app resource center, A/B testing options, AI-powered content localization, event-based content triggers, a dedicated customer success manager, and extra integrations like HubSpot/Salesforce.
• Enterprise. It uses quote-based pricing and includes enterprise features such as custom roles, permission management, premium integrations, priority support, activity logs, security audits, SOC 2/GDPR compliance, and more.

2. Google Analytics – Best marketing funnels analytics tool

Google Analytics is a freemium web analytics tool with powerful features for tracking, conversion, and retention, among others.

Main features

Here’s an overview of its marketing funnel analytics features.

• Explorations. The Exploration dashboard within Google Analytics allows you to run a variety of comprehensive, custom-built analyses of your raw data. Its funnel exploration visually represents its analysis of marketing campaigns and marketing strategies, among others, giving deeper insights into crafting an effective conversion funnel.
• Integration with Google. Google Analytics enjoys full integration benefits across all other Google products, like Google Ads and Google Ad Manager. Google Analytics can easily pull data from these products and conduct a robust conversion funnel analysis from its comprehensive reports.
• Automation. Google Analytics offers strong automation tools that make the process quicker and easier. Its proactive insights feature enables users to discover and investigate new trends and important changes that can further optimize and solidify sales funnels.

Pricing

Google Analytics operates a freemium model of pricing. They offer their basic version for free and their premium version (Google Analytics 360) available for enterprises upon request.

3. Hubspot – Best sales funnel analysis tool

Hubspot is a powerful customer platform with a variety of hubs containing various features for tracking sales funnels, interpreting marketing data, and more.

Main features

Here’s a brief overview of its sales funnel analysis features.

• Easy-to-read report templates. Hubspot contains dozens of built-in sales reports that are easy to interpret. You can take these reports to gain a deeper understanding of your user behaviors and craft a funnel optimization plan to drive business outcomes in a positive direction.
• Custom report builder. Hubspot’s Sales Hub lets you create custom reports that feature data relevant to your company while setting aside data your company deems unnecessary. You can project these reports into different visual reports, including funnels.
• Forecasts. Hubspot uses forecasting software to help teams visualize their future impact or track performance targets. Their team rollup view showcases forecast reports for every team that, aided with funnel analysis, can be utilized to encourage them toward an upward trajectory.

Pricing

HubSpot offers two paid plans for its sales analytics (starting at Professional’s $450/month up to Enterprise’s $1,500/month) that are billed annually.

This pricing does not include a required, one-time onboarding fee, which differs for each tier. HubSpot also offers tools for free, as well as a general starter plan for $18/month billed annually.

4. Mixpanel – Best funnel analysis chart visualization tool

Mixpanel is a product analytics software that interprets and represents advanced data into visual, easy-to-read reports.

Main features

Here’s a brief overview of its tools for funnel analysis visualization.

• Funnel conversion rate analysis. Mixpanel’s funnel analysis tool lets you track how website visitors and users interact at every stage of the entire funnel. this tool lets you follow user actions and investigate user paths, offering concrete solutions for conversion rate optimization.
• Custom event. Mixpanel lets you create a custom event to track during funnel analysis by combining multiple events into one distinct action. This lets you design funnel reports with multiple pathways converging, allowing the consolidation of multiple actions toward a singular goal.
• Advanced funnel analysis visualization. As one of its key features, Mixpanel’s data visualization tool is one of the best in the market. Creating funnel reports with Mixpanel comes easily with its strength in data collection and data visualization.

Pricing

Mixpanel offers two paid plans: Growth, priced at $20/month, and Enterprise, price available upon request.

Mixpanel also offers a free plan. For startups founded less than five years ago, Mixpanel offers the first year of their Growth plan for free.

5. Hotjar – Conversion funnel optimization tool for mobile and web applications

Hotjar is a product analytics tool best known for its heatmaps and session recordings feature for performance reporting.

Main features

Here’s a brief overview of Hotjar’s conversion funnel optimization tools.

• Heatmaps. Funnel analysis in Hotjar is strongly supported by its heatmap functionality. As one of its key features, heatmaps allow teams to observe what website visitors engage in and where most users drop off. This feature works on web and app-based products.
• Session recordings. Hotjar allows you to immerse in the nitty-gritty of every user journey with its session recording feature. This tool grabs a recording of how unique users acted during their visit. Understand how users flow and gain insights that improve funnel optimization.
• Rage clicks. Hotjar keeps track of rage clicks while interacting with your product. Having this metric in your funnel analysis lets you keep track of how many users found certain stages frustrating and make adjustments to funnel optimization efforts accordingly.

Pricing

Hotjar offers two paid plans for its heatmaps and recordings feature (starting at Plus’ $32/month billed annually, up to Business’ $56/month billed annually), as well as a free plan and a 15-day free trial.

6. Heap -Best funnel analytics tool for mobile apps

Heap is a digital insights platform that offers tools to boost conversion, retention, and satisfaction.

Main features

Here’s a brief overview of Heap’s funnel tools for mobile apps.

• Behavior-driven segmentation. Heap’s segmentation feature creates different segments by relevant behavior instead of usual metrics like demographics, location, or time. This gives funnel reports more precision when it comes to understanding user behavior.
• Charts. Heap’s Charts contain a variety of performance reporting tools, like retention charts and funnel analysis. Get a grasp of how many visitors converted and where, and dive deeper into user behaviors that help provide data to create the best funnel that optimizes the conversion process.
• Session replay. Heap provides an experience analytics solution with session replay that lays out a specific user’s journey. Learn from real user experiences that inform you of the possible adjustments that both push engagement and drive conversions.

Pricing

Heap operates a quote-based model for all of their pricing plans. Fortunately, they also offer a free plan and a 14-day free trial.

7. Amplitude

Amplitude is a digital analytics platform offering valuable insights into user behaviors through robust reporting tools.

Main features

Here’s a brief overview of Amplitude’s user analytics tools:

• Product Analytics. Amplitude offers a wide array of tools, including funnel analysis. Amplitude can go by segment to study behavior and correlate specific actions as either contributing to growth or leading toward customer churn. Take this information to nurture leads and increase conversions.
• Industry-specific report templates. Amplitude takes the stress of building customer reports by providing built-in templates for performance reports that are tailored to certain industries. Get important information quickly without worrying about looking for the metrics yourself.
• Session replay. Amplitude marries quantitative feedback with qualitative insights with its session replay tool. Translate how conversions look like in the real world. Use this qualitative data to analyze conversion rates and create more optimal conversion funnels.

Pricing

Amplitude offers three paid plans: Plus, priced at $49/month, and also Growth and Enterprise, pricing of which are available upon request. Amplitude also offers a free plan and a 14-day free trial.

Conclusion

Taking advantage of funnel analysis tools brings unparalleled benefits to any small or growing business. Optimizing marketing channels and solidifying conversion rates are just some of the many benefits of funnel analysis.

Stay ahead of the curb this 2024! Sign up for a free Userpilot demo today and learn how you can reap the benefits of funnel analytics!

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