Figuring out your funnels is one of the most important things you can do to increase your quantitative understanding of your website. It's critical to get the starting measurements - the dropoff and conversion rates - before you change anything. That's the only way you can know the effect of the changes you make. By constantly tweaking and measuring, you should be able to really improve your number of conversions.
Mixpanel has a set of functions that can be really useful for a company in the Web. While I still had no chance to compare their functionality to what Google Analytics provides, other than being real-time, I'm planning to spend some more time playing with it.
Mixpanel has a free 10K "data points" account (http://mixpanel.com/pricing) which is sorta confusing for a person like me. I'm more like thinking in visits, page views or things like that. But thanks to Tim Trefren from Mixpanel, who explained this to me:
"A data point is counted every time you track a visitor action. So, in terms of pageviews/month - if you track one event per page, you will use exactly the same number of data points as pageviews."
And, well, Mixpanel wouldn't be something you'll use to put on every page (like you can do with Google Analytics). You'd want to put it only on subset of them, linking to specific actions. Or you will probably use Mixpanel's API to assign "data points" to some triggers in your Web application' actions. This is, by the way, could be also a pretty useful feature.
