Product analytics doesn’t have to be rocket science. In fact, it can answer some of the most important questions about your product: Where are your customers coming from? How do they use your product? What causes them to abandon ship?
Understanding who your customers are, their individual and collective journeys can help you make informed decisions when building and scaling your app. It saves you from blindly deploying features and costly UI changes that may not work after all. You can focus on features that get users to stick, while improving what drives them away.
There’s just one problem—manually analyzing terabytes of user data is exhausting and often leads to nowhere. Instead, you’ll want an analytics tool like Mixpanel to surface those valuable insights for you. It lets you track how your users interact with your app across all platforms, and experiment on improvements based on that information. You can segment users based on tracked events, and narrow these reports down to specific event and/or user properties to get answers to all of your product questions instantly.
When creating your first project to track inside Mixpanel, you’ll receive a unique project token that sends event data to Mixpanel. This is inserted into the code when installing the Mixpanel tracking library on your website or mobile app. From there, you can create and track relevant custom events over a specific period of time. If you need insights on a particular event, click on Segmentation to view and segment data based on event properties. You can compare results based on past reports, or represent them in total counts, averages, line and pie charts, and bar graphs.
As your user base grows, you want to make sure you’re plugging any holes that might cause your users to slip off. It’s equally important to identify what encourages users to log back in and use your app. Mixpanel lets you create funnels to track unique users as they complete each step of a defined journey within a specified time period. Once they complete all of the steps of the funnel, Mixpanel counts it as a conversion. The Funnels section shows you the total conversion percentage for that funnel, as well as the conversion history between steps so you know how long it took a user to move from one event to another.
If you’ll switch over to the Retention tab, you’ll see how often a specific group of users would log back in and use your app. For example, you can track how new users use your app based on specific events over a period of time, or what kinds of features drive your loyal users to sign back in. This helps you identify successful features, as well as opportunities to build improvements that enhance your users’ experience with these features.
Mixpanel takes it a step further by letting you understand who your users are and who are most likely to convert before they do. Under the Explore section, you can import or manually create user profiles to manage customer details, communicate with your users, and gain insights on your user base. If you upgrade to the higher plan, you can create groups of target users to analyze, and predict which user is most likely to perform an ideal event or action within your app. Each user is assigned a letter grade where a lift (e.g. from B to A) indicates the likelihood of that user to convert, so you can take action—send out a newsletter, A/B test a new feature or font, or push an in-app message—to ensure that they perform your goal event.
Product decisions based on real and valuable insights ensures your time and resources are spent on what your customers use and appreciate. Mixpanel gives you immediate access to the information you need to make those decisions, and clarity on what you should focus on to ensure your product succeeds.