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Funnelytics Journey - From 1.0 to 2.0
Dear Funnelytics Community,
I’m extremely excited to announce the arrival of Funnelytics 2.0!
Over the past 2 years, we’ve been behind the scenes re-building all of Funnelytics from the ground up. Not just our platform, but the entire way that we work and serve our clients.
It’s been a massive undertaking and I couldn’t be more proud of what our team has accomplished.
Now, after 2 long years of effort, we are finally ready to reveal our brand new platform and success process.
In this post, I want to share the following:
- Why the change from 1.0 to 2.0?
- What is the difference between the two platforms?
- Who is Funnelytics 2.0 built for?
- How are we going above and beyond the traditional "SaaS" companies?
Let’s get started.
Why the change
Back in 2018, we launched a prototype for a tool that would allow you to “map” your funnels on a digital whiteboard, and then overlay your analytics data to see how that funnel was performing — all on the same whiteboard.
Funnel — Analytics … hence the name Funnelytics.
Pretty clever, huh? ha
We decided to offer the mapping features of the tool for free, and charge for the analytics features using our Funnelytics Pro accounts.
Here’s a screenshot of what that tool looked like back in the day.
What happened after was completely unexpected.
The platform took off in a way that I could have never predicted…
Within the first year, 70,000 people had signed up for our mapping tool — and things only kept going up from there.
Thousands of businesses, marketers, and entrepreneurs from all over the world, and across various industries became Founding Members and upgraded to Funnelytics Pro.
Shoutout to all our Founding Members out there!
I actually wrote a mini-book documenting our 1st year of Funnelytics called The Funnelytics Chronicles.
It describes how we went from 0 to $1.8m in revenue in our first 12 months from a project that was simply suppose to be an experiment.
It’s pretty awesome if I do say so myself, so if you have some time go and give it a read…
Download the Funnelytics Chronicles
However, it DEFINITELY wasn't all sunshine and rainbows
With the initial traction of the company came A LOT of different feature requests for something that was originally just a prototype, built on non-scalable technology.
Some people wanted powerful analytics, while others wanted simplicity and more mapping features.
Not having a clear focus on our ideal customer resulted in us developing a bit of a Frankenstein product.
Funnelytics Pro became very cumbersome, difficult to implement, and even more difficult to adopt — plus the technology stack that we began with had started to show its limitations.
Unfortunately, that resulted in a lot of customer frustration and churn.
We had to make a choice...
1) Take a step back , slow down our growth and rebuild the product on a scalable tech stack, focusing on a vision of a world-class platform.
Or
2) Keep Funnelytics generic and just generate revenue, knowing that the platform would never reach its full potential.
It wasn’t an easy call.
As an entrepreneur you are taught to grow at all costs… scale or die.
But in order to truly build our vision – a powerful “digital whiteboard” to plan, measure and optimize your customer journeys – we needed to take a step back and refocus.
From "Funnel Analytics" to "Journey Performance"
After making the decision to rebuild our platform, I decided to go down the VC route and raise seed funding.
Doing so allowed us to hire more developers and focus on working directly with our ideal customers for the platform and learn precisely what they wanted to see in a robust performance tool.
The result was a shift from simply looking at Funnel Analytics to full-on Customer Journey Performance.
Companies that are in growth mode don’t have one singular funnel; they have a multitude of assets, funnels, tactics and channels all designed to drive customer acquisition.
The true power of Funnelytics is that you can look at any strategy on a visual canvas and understand performance.
That strategy can be as simple as a landing page to sign up, or as complex as five front-end funnels, leading to webinars that get people to buy something, then pushing those customers to a back-end funnel, before closing them on a high-ticket offer using sales agents.
That fundamental principal has not changed over the years.
So with Funnelytics 2.0, we focused all our efforts on that super power — helping scaling businesses make sense and understand performance of their complex customer journeys in a visual way.
What does Funnelytics 2.0 do?
Funnelytics 2.0 will feel familiar if you already use 1.0, however It takes the best aspect of Funnelytics 1.0 and brings them to a whole new level.
It an intuitive digital whiteboard for your data.
A platform that helps businesses drive growth by visualizing customer journeys and understanding performance.
Here’s a quick video overview to highlight how it works.
At the core of Funnelytics is our market leading mapping tool.
Tens of thousands of businesses rely on our mapping tool to digitally whiteboard their funnels, align their team, and sell various stakeholders on the growth strategies that they will implement.
In Funnelytics 2.0, we’ve taken the mapping experience to a whole new level.
With an infinite canvas built on a technology that is smoother, faster, and overall just better.
We call it Funnelytics Map and it's FREE forever.
The second product in the suite is called Funnelytics Performance
Funnelytics Performance was built specifically to help businesses visualize the performance of their customer journeys, monitor the results, and take action to fix the bottlenecks.
While data is empirical in nature, it’s also contextual — what’s important for the media buyer isn’t necessarily useful for the CEO, or the marketing manager, etc.
What makes Funnelytics Performance so powerful is that it can showcase results regardless of utility or scope — all on one visual canvas, which gets everyone on the same page.
We've designed the platform around a framework that we call Journey Performance
Journey performance is the art and science of optimizing the engine that converts strangers into customers for your business.
Journey performance is there to…
- Monitor and improve the entire customer acquisition process — not just the ads
- Identify and optimize the weakest links until it becomes a well-oiled growth engine that scales
- Consistently stay on top of performance, so that nothing ever breaks and there’s always a target to optimize
- Look at data, not shiny new tactics, to move quickly and plug the holes that are leaking money
It enables you to…
- Understand revenue impact of all your assets (including ads)
- Simplify growth by focusing on the most profitable journeys
- Identify the bottlenecks that cause people to drop
- See ahead of time if something will slow down growth
- Move quickly and confidently to plug the holes that are leaking money
Funnelytics Performance was built with journey performance in mind.
Use 1st party tracking and our event processor to create accurate People Profiles and enrich them with data from your platforms
Monitor results and compare to instantly see using a simple red, yellow and green light system how things are progressing and whether you are behind, on track or ahead of targets.
Create customizable reports that everyone on the team can understand and care about – from the CEO to the media buyers, and everyone in between
Filter data by customer segments and run scenario simulations to understand the true impact of your customer journeys
Retrace the most profitable customer paths from purchase all the way back to the original source that brought them in
A platform is only as good as how you implement it in your business.
One of the key things that we wanted to establish as we relaunched Funnelytics was the ability to work directly with us.
Data and analytics are only as powerful as how you implement them in your business, and we’ve come to realize that we have a very unique advantage to serve our clients and help them scale their businesses.
After having analyzed billions of data points and funnels over the years, we’ve discovered that the businesses that scale the fastest are the ones who follow a process and proven playbooks.
Moving forward, we work directly with all of our clients to not only implement the platform in their business, but also to teach them the frameworks and processes that the fastest growing companies leverage to drive growth.
All of our clients get access to our Platform, Education Hub and Implementation program to help them grow their businesses.
That is our commitment to you.
Now, if you’ve read this far, I hope you have some good understanding about Funnelytics’ background, as well as our mission going forward.
If you'd like to work with us directly,
then schedule a call for Funnelytics Performance
If you haven't done so yet,
go and create your FREE Funnelytics Map account
Thanks for reading!
Cheers,
Mikael
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