XLSTAT: Funnel Charts in Excel 

 

Background 

In this article, we will use XLSTAT to visualize the path of prospects following a marketing campaign, and thus identify the number of prospects remaining in each of the phases until the stage of the deal closed with these prospects.

 

Dataset for Example

The (attached) data are from a ficticious company who launches a marketing campaign to promote a new product, with the aim of attracting potential customers, converting them into leads and ultimately closing a deal with them. 

 

Setting up

• Open XLSTAT.
• Click on the Visualizing data menu and select the Funnel charts feature:

• The dialog box pops up.

In the General tab:

• Select column A in the Descriptors field, and column B in the Values ​​field.

In the Options tab:

• Add a title to your chart.
• Select Percentages and Color scale.  

 

• Click on the OK button to launch the computations.
• The results are displayed on a new Excel sheet.

 

Interpreting the Results

The funnel chart is then displayed.
 
You can very quickly see the gradual reduction in the number of leads as they move through the sales pipeline. The funnel chart shows the initial number of contacts was 2350, 52% were converted into qualified leads, and at the end, only 17% of contacts closed a deal.

This type of chart is very interesting because they are easily readable. Additionally, they use relative proportions, which makes them helpful for illustrating conversion rates or selection rates during a process.