The Point of Product Analytics Is Revenue

And don’t you forget it

Direct paths from analytics to revenue

1. Conversion

This one is easy. Our eCommerce customers are already quite aware of this. For conversion funnels that have a sale at the end, knowing where your customers get stuck and helping smooth out the funnel is literally the key input to company revenue. (Other than what you’re selling, of course.)

2. Retention, adoption, and reduced churn

Things are slightly trickier when it comes to retention. This is because analytics tends to tie less directly with retention (or reducing churn) than to the series of intermediate steps that work as leading indicators for retention, revenue, and business health. These are metrics like adoption rate, DAU/MAU, NPS, sessions per user, and the like. (Which ones you use depends on your business model.)

3. Time to insight / time to market

Here’s a scenario: after doing a bunch of customer interviews, you realize that lots of people drop out about ⅔ of the way through your application funnel. You dig in and find a bug in one of your forms. This bug, it turns out, keeps 23% of people who start an online application from completing it. Worse, you find out that this bug has been there a whopping 10 months.

4. Improve efficiency

Ok, so this isn’t quite top-line revenue. It’s close. (Technically, increased efficiency qualifies as bottom-line revenue.) Whatever: it’s still real money. This is one of the ways Heap really shines. Our autocapture capability is literally the only solution on the market that can give you 1) a complete set of behavioral data with 2) no need for engineers. And it does this out of the box!

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The only digital insights platform that illuminates hidden opportunities to delight your customers and move key metrics at scale. Learn more at heap.io.

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Heap

The only digital insights platform that illuminates hidden opportunities to delight your customers and move key metrics at scale. Learn more at heap.io.