Growth is a principal concern for both mobile app marketing and mobile product teams. And as delightful experiences serve as the defining determinant of growth, customer loyalty and customer advocacy, product analytics has become more important than ever.
Historically (and for the foreseeable future) analytics data has been used by marketers to understand the effectiveness of their campaigns, identify bottlenecks in the customer journey and zero in on opportunities for growth. The same principles can be applied in the product world where iterative UX design plays a key role in keeping users active across the customer journey.
Unfortunately many marketers and product professionals are blind to the possibilities of integrating analytics technology into their mobile application. For some teams, analytics platforms are little more than a digital ticker counter, as mobile app stakeholders myopically focus in on only the most high-level acquisition and conversion metrics.
While these metrics are important, conversion metrics alone do little to help you increase conversions. Conversions are a consequence of an overall experience. Without measuring the experience, app owners will be left in the dark as to what elements of the mobile app contributed to a conversion.
A successful app doesn’t just acquire and convert—it delights and retains. Consequently, you can’t afford to let your understanding of growth be defined solely by marketing-specific metrics.
The answer to this issue is product analytics. With event-based product analytics you can track each and every action taken by a user within your mobile application. This allows you to see how users are spending time in your app, what causes them to drop off and what keeps them coming back for more.
When you have this sort of event-based data, you’ll be able to iterate on a product that increasingly caters to the use cases and preferences of your user base.
Tim Trefren, co-founder at Mixpanel, recently said, “Marketers have relied on analytics to prove out the ROI they create for years. As companies become more product-centric, product teams will need to move in a similar direction. When you’re dealing with retention, you can’t spend your way out of the problem. You need to build better products.”
Building better products is a consequence of proper data collection and analysis through product analytics. Tim Trefren will be presenting “Stop Treating Your App Like a Marketing Channel” at the upcoming Mobile Analytics Summit, an event dedicated to exploring analytics best practices and mobile trends. Register now to attend the event and Trefren’s session.
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