words Al Woods
So, you’ve developed a top-notch technology that you think people will love but now what? How do you judge whether your theory is correct?
You can send out surveys to gather feedback, but that shouldn’t be your one and only attempt. You should also collect product analytics on how your users are interacting with your technology. The product analytics industry is growing rapidly. There are many analytics tools that business owners can utilize to make strategic changes for company growth.
In this guide, you’ll learn why product analytics are key to the product experience and what type of data might be valuable to your software.
Product Analytics and Product Experience
Product analytics tell the story of a user’s interaction with your technology, otherwise known as the product experience. It can tell you where they clicked, how long they spent on one page, what they did on that page, and where they went next. It might show trends or common points where users dropped off, which can indicate to you where you need to redesign or streamline flows. You can also, learn more about Yotpo vs Shopper Approved to see which one best suits your business. Product analytics can also be used to optimize the customer journey.
Not only can you use these stories to improve your product, but also your users’ product experiences. Positive product interactions can create loyal customers who may even recommend your product to others.
How to Gather Product Analytics
Now that you know how product analytics can be of benefit, you’re ready to gather the data. You can do this by running product experience software to analyze product usage.
PX software tracks the entirety of a user’s journey, without any coding on your part. On top of the aforementioned clicks and duration data, most programs will provide data on new and active users, retention, impact on revenue, and more. However, it doesn’t stop there. You can gather numbers but also customer feedback through in-app or email surveys and pop-ups.
Visitor stats can help you determine how many people accessed a sales page. Plus, the data for events will let you know whether or not these users stopped by during a promotion. Because all data is updated regularly, you’ll always have opportunities to enhance your product for sales before major campaigns.
Learn More About Your Consumer
In addition to traffic data and customer feedback, another variation of product analytics you should follow is your audience demographics.
Across the globe, there are groups of people who are trying to find specific products and services to meet their needs. Throughout various regions, the total number of potential customers is narrower, and this is why demographic data is highly valuable. If you want to cater to people in your market, you’ll need to make your product appeal to them by running analytic software.
A typical program has charts and graphs that highlight demographic information. Demographics may include but are not limited to race, gender, age, education, occupation, income level, and marital status.
By fully understanding your audience, you know what they desire in product experiences, and you can make changes based on demographic trends using analytics software.
What to Do With the Data
We’ve already given you a glimpse of how to use product analytics, particularly with PX software, to improve your product but let’s dive in further. The data will show opportunities to make tactical tweaks to make product design components better.
Product analytics should be pointing out any user struggles or concerns. When you respond to that feedback by updating the development flaw, you’ll increase the chances of funneling past customers to new sales cycles.
A common development flaw might be improperly placed icons that delay the process of accessing essential software tools. While tracking behavior, you can figure out how long it takes for users to find and use features bundled within your software. In most cases, a quick software update can prevent frustration and optimize the results.
Another example might be that some users are spending less time using key tools if the interface is too complicated. If the average session duration for a program is extremely low, it might have a bug or poor design. The big benefit is that the process of correcting minor flaws is easy as a development team can release patches or updates.
Other Ways to Use Product Analytics
Following a product launch, a business will have short-term users and long-term users. To grow a software company, the team must fully understand how to segment profitable users. An analytics tool provides benefits during these situations because it compiles sales data following every transaction. Once a sizable amount of data is collected, a marketing team can easily determine which users are the most profitable after new products are released and marketed.
