Product Launch: MoEngage Analytics to Help Businesses Sharpen Their Growth Trajectory
By raviteja2007 Published: #php echo get_post_time("H:s \G\M\T"); ?>7 March 2019 | Updated: #php echo get_post_modified_time("H:s \G\M\T"); ?>20 December 2019
We, at MoEngage, are focused on helping marketers personalize every user interaction. We pride ourselves on our ability to listen to our customers and be in tune with them. This has enabled us to pioneer industry-first product capabilities consistently each year.
Our customers have evolved over the last few years, and so has their customers’ behavior. Our customers are moving away from using digital channels in isolation to crafting personalized omnichannel strategies that deliver the right message, to the right person, at the right time, and over the right channel. This transition isn’t easy, and there are many hoops to jump through. Our goal is to make this transition easy and as a first step, our focus is on marketing analytics.
To be truly relevant to each customer, brands must be able to stay with them across their journeys and know the history of the relationship every step of the way. This means that your marketing tools and your analytics tools must not just talk to each other; they must work as one unit.
If you take a look at the marketing technology landscape today, most marketing platforms focus on the execution piece while analytics tools focus on the measurement aspects. Marketers have to switch between multiple tools and repeatedly follow up with other teams to get insights, run campaigns, and measure the impact. This approach is time-consuming, and data is lost while transitioning between various tools and teams—forcing marketers to run campaigns based on guesswork, as opposed to being data-driven.
In that context, I am glad to announce MoEngage Analytics—a brand new inclusion to MoEngage’s marketing automation suite.
Marketers love to ideate and execute on creative ideas that accelerate growth for their brands. But it’s important that these campaigns either solve a problem or move the needle in terms of the larger goal of the business. Which means, marketers today must be able to implement customer engagement strategies that are data-driven. We wanted to make it easy for marketers like you around the world to strike that balance.
That’s why we’ve built Actionable Analytics right into the MoEngage platform.
Now, you can look at data to find out how the product is performing and how users are interacting with your brand. You can initiate a campaign right there with a message tailored specifically for that user segment.
Actionable Analytics in Action
Key Features of MoEngage Analytics
1. Understand customer preferences with behavioral analytics: Using MoEngage Analytics, you can find out key behavioral attributes in real-time such as the number of users using your product, how many of them interact with your content, and how many of them convert or subscribe.
You can also delve deeper into key behavioral attributes. For example, you can find out how much of your traffic/conversions are contributed by certain geographies. You can also understand more about these behaviors based on categories, or your content played by artist/genre and more.
2. Predict app churn and increase retention: Are you tasked with identifying how soon your customers return to your website or app? Should you determine how long they’ve used on your app before going dormant? MoEngage Analytics enables you to do just that and more. With MoEngage Analytics, marketers can measure user engagement over time, making it easy to spot behavioral patterns and act upon retention cohorts. For example, you can create a cohort of new users who have launched an app for the first time as shown in the image below.
Now, you can view how many of them come back to the app over the next 4-5 weeks. As you’ll see from the image above, out of 515K users that come to the app in the week of Jan 20-27, only 42% return within a week and that reduces to 32% in week 2. This means that 72% of the users’ drop-off in week 2—a cue for marketers to re-engage customers during D7-D14.
3. Understand customer conversions better with in-depth marketing funnel analysis: With MoEngage Analytics you can Identify and plug holes in your conversion funnel from one screen. For example, let’s consider the website funnel below where there’s a huge drop-off from view to purchase.
With MoEngage Analytics, you’ll be able to segment and engage the dropped-off users—without switching tools or even tabs in the same tool.
You can personalize these campaigns to leverage past user behavior and recommend the most relevant product for each user.
You can also measure the impact of your campaign on your funnel drop-off.
With MoEngage Analytics, you can actually track and monitor the KPIs that matter to your business. The platform allows you to create multiple dashboards to pin any of your charts. You can create charts for different teams in your company such as marketing, product, and so on. Or you can create multiple dashboards around key goals that you’ll want to keep an eye on such as onboarding, conversions etc.
Consolidate all Your Data with Open Analytics
Some of our early customer interactions indicated that marketers did not want to be limited to the features available on the automation/engagement platform that they use. They felt the need to build custom visualizations, write their own custom SQL queries, and sometimes merge the data from the MoEngage platform with their internal databases. We wanted to solve that use-case as well.
We’ve made it super easy to plug in tools like Tableau, Google Data Studio, and Qlik, making it simpler to conduct deeper analysis on the same data set. Customers like Tokopedia, Spoyl, and OnlineTyari use our open analytics to build internal dashboards on top of MoEngage behavioral events and also campaign events in a seamless manner. With MoEngage Analytics, we hope to empower marketers to strategize, improve, and personalize their marketing campaigns. Our platform is intuitive and easy to use, making it a practical solution for brands looking to break down the silos between analytics, marketing automation, and customer engagement to speed up growth.
What Do Some of the Early Users Have to Say About MoEngage Analytics
With MoEngage Analytics, we hope to empower marketers to strategize, improve, and personalize their marketing campaigns. Our platform is intuitive and easy to use, making it a practical solution for brands looking to break down the silos between analytics, marketing automation, and customer engagement to speed up growth.
We reached out to some of the early adopters and beta users of MoEngage Analytics. Here’s what they had to say.
“We choose to work with MoEngage for their innovative product roadmap. At Treebo Hotels, we keep pushing boundaries and setting new standards when it comes to customer experience. We needed a partner like MoEngage who invests in product innovation that enables us to stay ahead,” says Rana Vishal Singh, Head of Marketing at Treebo Hotels. “We have been beta users of MoEngage Analytics and On-Site Messaging Products and I must say that early results have been encouraging. The team at MoEngage is open to any feedback and quick to act on it. I am excited by their product roadmap and look forward to partnering with them to further enhance our customer experience.”
“We were able to make our customer engagement more data-driven with MoEngage Analytics and drive 400% increase in overall sales,” says Saurabh Pal, Data Analyst at OnlineTyari.
Here are some more customers who are leveraging MoEngage Analytics to make their marketing seamless and data-driven.
Try MoEngage Actionable Analytics
I invite you to explore Actionable Analytics on our platform. Don’t forget to share your feedback at firstname.lastname@example.org. We are happy to hear your experience and look for ways to include enhancements for your ever-evolving marketing needs.