Product marketers and managers have implemented campaign-led engagement strategies that run campaigns based on hypotheses for a long time. However, since these hypotheses are based on their idea of a customer rather than the actual customer, campaign results are often skewed.
As the modern customer evolves, his/her choices and distractions grow correspondingly. Standard buyer personas are no longer enough. Personalization instead of generalization is quickly becoming a key factor for marketers to connect with and retain customers for a longer time.
As a result, traditional customer engagement platforms are falling short, creating the need for insights-led engagement platforms.
In this article, we spoke to our champion customers from the core product and growth teams to understand the importance of employing analytics. We observe that analytics is becoming the centerpiece for engagement, and this candid interview helped us understand why.
Product marketers and managers are moving towards an insights-led engagement by sending customers hyper-personalized messages and content across digital devices. It is a strategy that uses the market demand for real-time insights by monitoring customer behavior, existing data, and buyer patterns across various channels. It also involves analyzing data on a large scale and leveraging it to predict customer behavior in the future.
Typically, insights-led engagement has three steps - analysis and segmentation, engagement, and optimization. An effective insights-led engagement platform gives marketers insights into the customer journey, behavior, and campaign.
However, this is easier said than done.
Our power customers, who are your typical product and growth managers, will tell us what challenges they face in understanding the customer journey and gleaning relevant insights that make an actual difference in their engagement strategies.
In the current market, a lack of insights means a lack of customer engagement. However, brands have tons of customer data that are rarely transformed into actionable insights. The quality of the data is also essential, as it dictates how in-depth and personalized your results will be. If the collected data is inconclusive or low-quality, it might cause your entire campaign to collapse.
Implementing a successful engagement campaign with the help of a dedicated analytics team requires massive efforts. The current customer patterns are highly volatile, and the market demands are also ever-changing. Brands are finding it difficult to pinpoint why their customers are dropping off. This hampers them from implementing effective strategies to curb the drop-off rates.
“Proactively identifying problems is the need of the hour. In general, data insights act as a starting point to approach a problem statement, build a hypothesis around it, and test those hypotheses through other qualitative and quantitative methods. All these aspects help me and my team to understand the impact of various pilot projects that we run, provide us with insights regarding which strategies work for us and also the ones that don’t work.”
--- Sanyam Jain - Product Growth Manager, CountryDelight
“Initially, we had to depend on our developers and analysts to analyze and access data. There was no decentralized access to data and analysis, so monitoring metrics to validate features was complex after deployment. We have Engagement and Retention goals that we are chasing, and we typically use Session count and Average Session Duration to measure customer engagement. Since the farmers’ needs are very fragmented and seasonal, bringing them on the platform again is a challenge. We have tried to replicate the customer journey on the online platform, and we are experimenting with a lot of features, but there are lots of hits and misses.
It is challenging to predict what would work and what won’t.
We also wanted to analyze whether customers dropping off from sign-up flow were returning to the platform. When we tried to create a segment in the funnel module, we learned that we could not use segments created in funnels for analysis in the Behaviour Module. Also, as our audience is primarily based out of the rural region, it is difficult to understand whether customers’ engagement is influenced by our features and app experience or their network problems in their area.
In the future, we would want to understand the features and events that drive retention. We would like to drive these activities in the initial sessions.”
--- Dheeraj, Product Manager - Krishify
MoEngage is reshaping the customer engagement approach with MoEngage Analytics, an insights-led customer engagement platform fully equipped with solutions to understand and analyze data in massive quantities that helps marketers be more insight-driven and customer-centric.
With the advanced tools that it features, it can simplify monitoring and understanding customer metrics. It can help brands understand the whys and ifs of customer usage patterns and come up with conclusive solutions.
Here’s how we have helped brands tap into the power of insights-led customer engagement.
“User-friendly interface makes MoEngage an easy-to-use tool to analyze customer behavior in a real-time basis using various attributes/events. I extensively use MoEngage to understand customer journeys through the Funnels, Retention Cohorts, and User Paths that helps us to identify friction points in customer journeys as well as to verify the results of experiments that we run.”
-- Sanyam Jain - Product Growth Manager, CountryDelight
“The fact that I don’t have to depend on others for any data and I don’t have to write complex SQL queries myself, and the simplicity of use are the best parts about MoEngage Analytics. Before using MoEngage, we were able to do most of the analysis already, but the ability to do analysis quickly is something that they helped us with. MoEngage offer competent features like the ability to add AND/OR events in retention, the ability to customize App/Site Open event, and analyzing what customers are doing session by session. I can be as creative and flexible with the visualization as other tools is a big plus point of MoEngage.”
--- Dheeraj, Product Manager - Krishify
Insights-led engagement is the way ahead, as it can drastically improve the customer experience. It can help brands analyze customer behavior and allow them to take action on the insight.
A platform like MoEngage Analytics streamlines data analysis and provides an easy-to-use, simple, yet helpful interface to marketers. Overall this approach will facilitate not only marketers but product managers too in boosting engagement and improving retention. Additionally, it becomes easy for the growth team to analyze data and create campaigns from the same dashboard. All in all, having an insights-led platform can provide data democratization while saving time for multiple teams.
1. We launched another AI-powered feature Prediction that can help marketers and product owners do understand your customers’ future actions!
2. Look at the various aspects of customer affinities that can help you engage consumers better using our new feature Affinity Segments.
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