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Find the stage that is costing you the most

Enter up to five funnel stages with a conversion rate each and this shows the volume surviving every step, your overall conversion rate, and where the largest number of people fall out. The final output is what a realistic improvement at the leakiest stage would be worth in revenue.

Last reviewed 27 August 2026

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Set this to 100 if you only want four stages.

$

First-year value is a safer input than lifetime value.

%

Relative, so 25 percent takes a 40 percent rate to 50 percent.

Result

Conversions a month

25.2

From 10,000 entering the funnel

Overall conversion rate

0.252%

All five rates multiplied together

Worth of a 25% improvement

$7,560/mo

Applied to Visitor to signup, your leakiest stage

Stage by stage

Stage by stage
StageEnteringRateContinuingLost
Visitor to signup10,0008.0%8009,200
Signup to activated80045.0%360440
Activated to qualified36035.0%126234
Qualified to paying12625.0%3194
Paying to retained at 90 days3180.0%256

Your leakiest stage is Visitor to signup at 8.0%, and it is also where the most people are lost in absolute terms, 9,200 of them. Taking it to 10.0% adds 6.3 conversions a month, worth $7,560.

How this works

What the numbers mean.

  • 01Volume flows through each stage in order, so the number entering a stage is whatever survived the one before it. Rates multiply rather than average, which is why an overall conversion rate is always far lower than any individual stage rate.
  • 02The largest absolute drop off is reported separately from the lowest rate, because they are usually different stages and people conflate them. The largest drop off is normally the first stage, simply because it sees the most people.
  • 03A relative improvement at any stage multiplies the final output by the same factor, so the stage worth working on is the one where that improvement is achievable. A rate at ninety percent has almost no room left, and the improvement here is capped at one hundred percent to reflect that.

Assumptions and limits

  • Real funnels are not strictly linear. People re-enter, skip stages, and convert months later, and a linear model understates all of that.
  • Stage rates measured over different time windows do not compose correctly. Make sure each rate covers the same cohort period before multiplying them.
  • Value per conversion should be first-year value unless you have several years of retention data. Lifetime value makes every improvement look worth doing.

Questions about this tool

Which stage should I fix first?
Not necessarily the one where most people leave. Because the rates multiply, a twenty percent relative improvement produces the same lift in final conversions wherever you apply it. So the right choice is the stage where a twenty percent improvement is realistically achievable and cheapest to attempt, which is usually the stage with the lowest rate and therefore the most headroom.
Why is my overall conversion rate so low?
Because five stages at plausible individual rates compound into a very small number. Eight percent, forty five percent, thirty five percent, twenty five percent, and eighty percent multiply to under a third of a percent. That is normal, and it explains why top of funnel volume has to be so large relative to customers.
Should retention be in the funnel at all?
It depends what you are deciding. Including it gives a truer picture of how many customers you actually keep, which is the right frame for acquisition spending. Excluding it isolates the acquisition funnel, which is the right frame if you are optimising a landing page. Set the last stage to one hundred percent to remove it.
How do I get accurate stage rates?
Measure a single cohort through the whole funnel rather than dividing this month's conversions by this month's visitors. Period based rates mix cohorts at different maturities, and in a growing company they systematically understate conversion because the newest, largest cohort has had the least time to convert.

Related

This tool is free and there is nothing to sign up for. If you would rather have the work done than calculate it, that is what Zway does.

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