Guide · Reporting
Funnel Denominators: Conditional vs Cumulative Rates
Every funnel rate needs a stated denominator. A step rate divides a stage by the stage before it; a cumulative rate divides it by the first stage. Mixing the two, or rounding inconsistently, produces numbers that cannot be compared.
Step 1: Name the two kinds of rate
A step rate, also called a conditional rate, answers "of the people who reached this stage, how many reached the next?" A cumulative rate answers "of everyone who started, how many got this far?" Both are useful. The mistake is to present one as if it were the other, for example to call 18% "the conversion rate" without saying 18% of what.
Step 2: Work through the example
The table uses this site's default inputs: 100,000 organic clicks and step rates of 68%, 18%, 71%, 48% and 61%. These inputs are illustrative and describe no real operator.
| Stage | Step rate | Calculation | Count | Share of clicks |
|---|---|---|---|---|
| Organic search clicks | Starting point | Entered | 100,000 | 100.0% |
| Landing visits | 68% of organic|search clicks | 100,000 × 0.68, rounded | 68,000 | 68.0% |
| Registrations | 18% of landing|visits | 68,000 × 0.18, rounded | 12,240 | 12.2% |
| Verified accounts | 71% of registrations | 12,240 × 0.71, rounded | 8,690 | 8.7% |
| First-time depositors | 48% of verification | 8,690 × 0.48, rounded | 4,171 | 4.2% |
| Retained accounts | 61% of first-time|deposits | 4,171 × 0.61, rounded | 2,544 | 2.5% |
To check by hand: 100,000 × 0.68 = 68,000. Then 68,000 × 0.18 = 12,240. Then 12,240 × 0.71 = 8,690.4, which rounds to 8,690. Then 8,690 × 0.48 = 4,171.2, which rounds to 4,171. Finally 4,171 × 0.61 = 2,544.31, which rounds to 2,544.
Step 3: Decide where to round
People are whole numbers, so this site rounds each stage to the nearest whole person before calculating the next one. Rounding at the end instead, by multiplying all the rates first, can give an answer one or two people different. Neither is wrong, but a report must say which it uses. If you rebuild a published figure and get a slightly different count, check the rounding rule before assuming an error.
Step 4: Keep each rate inside one system
Search Console clicks, analytics landing visits and server registrations come from three systems with different rules. Divide counts from the same system where you can. Where you must cross systems, as with clicks to landing visits, name both sources in the label, for example "landing visits (analytics) per click (Search Console)."
Step 5: Match the time window
Registrations in October can come from clicks in September. For short steps, such as landing to registration, a calendar month is usually close enough. For long steps, such as verification to first-time deposit or deposit to retention, use cohorts: follow the same group of people forward for a fixed window, as the retention paper describes.
Step 6: Report both rates with labels
| Weak label | Clear label |
|---|---|
| Conversion rate 18% | Registrations per landing visit: 18% (step rate, October, Great Britain, analytics and server) |
| FTD rate 4.2% | First-time depositors per organic click: 4.17% (cumulative, October cohort, 30-day window) |
The second row's figure comes from the worked example: 4,171 depositors from 100,000 clicks is 4.17%.
Checklist
- Every rate names its numerator, denominator and system.
- Step and cumulative rates are labeled as such.
- The rounding rule is stated.
- Long steps use cohorts with a stated window.
To try other inputs, use the funnel explorer, which applies the same rounding rule and exports every step to CSV.
Questions
Why does multiplying the rates give a slightly different final count?
Because rounding at each stage and rounding once at the end differ by small amounts. This site rounds at each stage and says so.
Is a cumulative rate more useful than a step rate?
They answer different questions. Step rates show where the funnel loses people; cumulative rates show the overall yield from the first stage.
Can a step rate exceed 100%?
Not in a well-built funnel. A rate above 100% means the stages are counted in different systems or periods, or users can enter mid-funnel.
Sources
Each source was read on October 27, 2026. How we choose sources is set out on the sources and reading list page.
- Google Search Console Help, What are impressions, position, and clicks?, no date shown.
- Google Analytics Help, [GA4] Funnel exploration, no date shown.
- Google Analytics Help, [GA4] Cohort exploration, no date shown.