In more traditional analytics platforms, bounce rate represents the percentage of visitors who navigate away from your site after viewing only one page. Given this metric, many businesses focus on lowering bounce rate, or getting site visitors to view more than one page.
Mixpanel doesn’t have an out-of-the-box metric or report for bounce rate, and here’s why: it’s entirely possible that a user could accomplish her goal (or yours) by only visiting only one page. This single page (but successful) visit would not be accurately captured by a bounce rate metric, but would be captured using Mixpanel’s completely customizable event tracking.
For example, if one of your business goals is to get people to sign up for your mailing list and people are coming to your site, successfully taking that action while only viewing one page, and then leaving, that is a positive interaction for your business even though it would negatively affect your bounce rate.
What should I track instead?
Mixpanel’s advantage is that it allows you to track any metric that’s important to your business, so you don’t have to rely on generic, one-size-fits-all metrics to drive your analysis.
Using the example from above, a more effective metric than bounce rate would be tracking a Page Load event and a Mailing List Signup event. Then, you could use Mixpanel Funnels to look at the number of users who came to that specific page and successfully signed up for your mailing list. From there, you could use the Notifications feature to re-engage any users who looked at the page but did not sign up.