Title: Sankey Charts: Visualizing Flow and Conversion in Your Marketing Funnel
Introduction
Marketing funnels are a critical tool for businesses to understand the flow of customers through their sales process. By visualizing the conversion and flow of prospects through your funnel, you can identify areas for improvement and optimize your sales strategy. One powerful tool for visualizing this data is the Sankey chart.
What is a Sankey Chart?
A Sankey chart is a circular flow diagram that illustrates the flow of particles (customers) between different nodes (steps in the marketing funnel). The chart is named after the Dutch chemist and engineer Jan Helmuth Sankey, who developed the technique in the 19th century.
How to Create a Sankey Chart
Sankey charts are relatively easy to create using several different tools. Some popular options include:
Microsoft Power BI
Power BI is a powerful business analytics software that includes a Sankey chart visualization tool. To create a Sankey chart in Power BI, simply connect your data source (e.g. SQL server, Excel spreadsheet), add the necessary nodes and channels, and then apply the Sankey chart option.
Trello
Trello is a project management tool that includes a built-in Sankey chart visualization. To create a Sankey chart in Trello, simply add a card to each step in your marketing funnel, link the cards together using channels, and then apply the Sankey chart option.
Google Charts
Google Charts is a free charting tool that allows you to create Sankey charts. To create a Sankey chart in Google Charts, simply add the necessary nodes and channels to your chart, and then apply the Sankey chart option.
Applications of Sankey Charts
Sankey charts can be used for a variety of purposes, including:
Identifying Bottlenecks
Sankey charts can help you identify where the most customers are being lost in your funnel. By analyzing the flow of particles (customers) between different nodes (steps in the funnel), you can identify where the bottlenecks are and take steps to address them.
Optimizing Conversion Rates
Sankey charts can help you identify areas of your marketing funnel where conversion rates are low, and then optimize those areas to increase conversions. For example, you might identify that the very first step in your funnel has a low conversion rate, and then invest more resources in that step to increase conversions.
Predicting Future Conversion Rates
Sankey charts can also help you predict future conversion rates by modeling the flow of particles through your funnel. By analyzing the current flow of particles and identifying any bottlenecks or low conversion rates, you can make informed predictions about future conversion rates.
Conclusion
Sankey charts are a powerful tool for visualizing the flow and conversion of customers through your marketing funnel. By using a Sankey chart, you can better understand your funnel, identify areas for improvement, and optimize your sales strategy to improve conversion rates. With a variety of tools available, creating a Sankey chart is easy and accessible to anyone.
SankeyMaster
SankeyMaster is your go-to tool for creating complex Sankey charts . Easily enter data and create Sankey charts that accurately reveal intricate data relationships.
