In today’s digital world, all companies rely on a digital presence to promote their brand, sell products and engage with their customers. What is Adobe Analytics and how it can help in achieving your business goals?
Let’s get into it! Hopefully after this you will have an initial understanding about Adobe Analytics, Web Analytics in general and if this is a path you want to explore further.
Do you need a Digital Analytics solution?
Let’s first try to understand what a stakeholder in a e-Commerce company needs. A general requirement would be to “maximise the ROI of the digital investment (e-shop, mobile app etc.)”. How does this translate to your particular case is subjective. Most of the time this is revenue maximisation, ARPU increase, customer retention, NPS or something similar. Someone will argue this information already exists in the CRM system, a transactional database or in the 3rd party that sends surveys. This is true but by itself does not actually help to improve those core metrics. How are we supposed to maximise:
- Revenue if we do not know how customers navigate around our shop?
- Conversion rate if we do not know what customers did before making (or not making) any purchase?
- ARPU if we are not aware of what products the customers show interest at over time?
- Retention and NPS if we do not learn their pain points and frustrations as they are browse?
We have to remember that people are actually visiting our brand, they showed intent. We should be trying to make their time on our brand as pleasant and smooth as possible! Noble cause I would say! So we need to have rich information about what they do between them arriving on our site and the actual sales (if any).
We need to be able to understand the different actions customers took. In which part of their journey they most commonly abandon our brand. How often they visit the complains page after they made a purchase? Having this view, creates the field to start asking questions and look for answers that are otherwise impossible.
Even if you ask directly your customers, the results will be from misleading (at best) to straight lies (at worst). The visitors reveal more about our brand through their actions rather than asking them. This is especially true in sales. Nothing speaks best than a person reaching for the wallet!
Let’s try to understand what Adobe Analytics is. Analytics is one of the core offerings from Adobe and it is part of the Adobe Cloud suite. As a collection of products, there are numerous functionalities that are available but here will focus on Adobe Analytics solely.
The main purpose of Analytics is to provide a comprehensive solution to help you understand web behavioural data. It is an enterprise solution (i.e. features, SLAs, access control, costs) that enables you to collect data, store it, process it and visualise it in an easy-to-manage fashion. It is an enabler to quickly view the current performance and draw decisions supported by data.
If your site has a multi-step funnel, how do you know which step is underperforming? If you do not, chances are you will have to do user research, ask individual users or maybe your own employees. How much this reflects reality is something we will never know. Imagine being able to have a view for the biggest portion of your visitors? That would allow you to draw safer conclusions.
The only way to know that there is more than 80% drop rate in the last step of the funnel is to have the above report. Slicing and dicing the customer behaviour based on multiple data points is the key to perform such tasks. Even the most basic Adobe Analytics package offers hundreds of data points. Those can be customised to help you build such reports. Then you can focus your energy and time where it matters the most. Taking action!
If you want to view in which order visitors navigate through different sections, a flow visualisation will prove useful.
On the other hand, if your primary consideration is to compare between key segments you also have the flexibility to do so.
Adobe Workspace is the key analysis solution for interactive and exploratory work that is built with flexibility in mind. Combining multiple reports, graphs and data points is made really easy.
To make the above visualisations really insightful, it depends on your appetite to become data-driven. It is up to you to increase the number of data points you have available in Analytics.
The number of options to view, share and analyse the said data points is also big. It can enable both you and other stakeholders in your business to understand your customer from multiple perspectives. The best thing is it removes a huge burden from your BI and IT teams to obtain, store and analyse this data. The process is much more streamlined and hides all the data engineering complexities in order to make decisions faster. The video illustrates this very well.
What about Google Analytics?
How is this different to Google Analytics (or other web analytics solutions) you might ask. The main thing to understand is that those two products originate from different companies with different business models and backgrounds. The key difference is their target audience. Google Analytics is probably more suited to SMEs while Adobe Analytics is best for big companies. Adobe offers a lot more corporate-related functionalities and has much fewer limitations in terms of analytical features. This does not mean that big corporations cannot extract value from the product Google offers. In a lot of cases this also depends on the skills, maturity and requirements of your Digital Analytics team and their stakeholders. To go through such comparison, it needs a series of posts so I will not touch it at this time!
Hopefully this is a good first flavour of what is Adobe Analytics. If you have further questions, need support or you would like to share an idea, feel free to contact.