Whenever you mark a Deal as “Lost”, the Funnel Chart is no taking into account that Deal anymore.
But the correct way to see that would be that the Deal is considered upto the last stage it was moved before closing it as Lost.
That way, your conversion rate will be real between stages.
Now, if I create 5 deals, and I mark 1 as won and 4 as Lost, I have a 100% conversion rate from New Opportunity to Won, instead of 20% .
It actually does consider the lost stage even if it isn’t displayed:
Here is a video explanation:
Hi Shayan, I’ve replied directly on the Loom video with a quick recording of myself.
Oh now I understand your point.
Yes this seems to be a bottleneck of the funnel chart widget. You can Email the creator of it or send feedback directly through Monday.
The funnel widget will only consider items in the stage or items that went through the stage when calculating the % rate from one stage to another. If you want to circumvent this, I‘d recommend having a separate status column for lost deals - and simply leaving the deal in the respective stage even if it is lost.
This will give you the historical conversion rate.
The funnel chart should account for deals up to the last stage they reached before being marked as “Lost” to accurately reflect conversion rates. Currently, marking a deal as “Lost” removes it from the funnel, skewing the conversion data. For example, if you create 5 deals and mark 1 as “Won” and 4 as “Lost,” it inaccurately shows a 100% conversion rate from New Opportunity to Won, instead of the actual 20%. This adjustment will provide a true representation of conversion rates between stages.
I have been doing some more testing and also looked at old Tutorials about the Funnel Chart widget and I am fairly convinced that this cannot be intended behavior and that this was not always the case.
@Julietteb @danaaviv Can this be addressed in the documentation somewhere? Because it strucks as a fairly dangerous thing to leave incorrect functionality in this widget.
Right now the Widget will calculate conversion rates completely wrong - as it (no longer) seems to base its calculations on the Status activity log, but instead on just the Status itself and the order of the Status.
Example:
Lets say you have 3 deals: (Stage order: New → Discovery → Proposal)
1 in New, 1 made it to Discovery and 1 made it to Proposal.
The conversion rate from New to Discovery
will be 66,7% (as from 3 deals, 2 made it to Discovery) and from Discovery to Proposal 50% (as from 2 deals that reached Discovery 1 made it to Proposal).
Now lets say the deal that is currently in Discovery is lost (stage switch to Lost).
This will now reflect in the funnel widget as follows:
It will reduce the conversion rate from New to Discovery to 33.3% (which is incorrect) and it will increase the conversion rate from Discovery to Proposal to 100%. (which is also totally incorrect).
This now implies that deals are lost in the first Stage New and do not convert to Discovery but this is false - deals were lost in the Discovery stage and do not convert to Proposal
I am using the standard Enterprise CRM Template and have everything setup exactly like Monday recommends.
Hi There! Any comments on this @Julietteb @danaaviv @shayan.moussawi ?
Thank you!