Mixpanel: What It Is, What it Does, and Why You Need It
Operating online can be challenging. Innumerable businesses are vying for attention, and the expectation of customers to be wowed on site is high and rising.
As data insights have improved, so too have the experiences of users. Which, of course, is great - if you're a user. If you're an online business and not yet been able to harness user data to improve the experience of users on your site, your experience is probably not a great one, with competition coming in hot on your heels.
That's where Mixpanel comes in.
What is Mixpanel:
Mixpanel is a product and user behavioural analytics platform. It facilitates better user experiences, by allowing web and mobile apps to track their users' interactions, as well as providing tools that enable targeted communication between the brand and its users.
Mixpanel makes tracking user behaviour accessible to businesses of all sizes and budgets, giving everyone an equal playing field, so smaller companies can step up to offer the same quality experiences that users would receive when engaging with sites backed by big teams and budgets.
What Mixplanel Does:
Mixpanel is an event-centric platform, meaning that it tracks events/users interactions with elements that have had tracking applied to them. That could be images, videos, podcasts, buttons, gadgets, forms, scroll bars, external links or more.
By tracking this information, you can learn a great deal about your users. Including which referring site generates the best ROI, where people drop off in a particular sales funnel, how many people click an action after visiting a particular page, and many other events.
With the details of these events in mind, it is then easier to develop insights to highlight where CTAs aren't compelling enough, or that different demographics have different behaviours and should thus have different experiences when they visit your page.
The Mixpanel feature categories include:
- Behavioural analytics
- Data science
- Targeted messages and experiments
- Data governance
- User analytics infrastructure
Within these categories, Mixpanel goes beyond simply offering tracking and insights. Its data science features allow you to understand the why behind user behaviour, using data models to identify behavioural correlations.
Messaging and experiments help you to nudge users with targeted messages or A/B tests that are based on real-time behaviours. All of which is then tracked to understand the impact for further analysis and experimentation to design communications and campaigns that convert.
Then, their data governance feature ensures that data is clean, correct, and trustworthy.
How Mixpanel can Help:
Mixpanel allows companies to compete with the customer experience standards of big businesses.
All of these features unite to allow businesses to analyse, measure and improve customer experiences. Improved customer experiences lead to higher engagement, better ROI and improved customer loyalty. Everyone is aware that their data is being gathered and the expectation is that it is being used to improve their experience on your site. Companies that deliver these improved experiences are those that stand out against their competitors, no matter their size.
User behavioural tracking is not just good for businesses, users today expect personalisation.