Nowadays, analytics became a synonym to Google Analytics but the reality is a lot beyond that. Advanced analytics is everything from measuring pageviews or users, to attributing traffic coming to your site, measuring visitor’s journey, monitoring him/her while converting into something valuable for your business and all the above should come in an easy-to-absorb manner and they are also related to your data but also to your competitor’s data.
You know, numbers are the easier way to lie, therefore the challenge is to select from the sea of numbers, those that will actually assist your company to grow. And that requires a growth hacker with data analysis capabilities.
GrowthRocks uses various types of analytics reporting, i.e. Google, Mixpanel, hotjar, Facebook, Pinterest, Instagram. It is vital for the discovery and communication of meaningful patterns in data allowing you to take informed decisions and targeted actions.
As analytics we also mean the configuration of Google Analytics to capture: a) the funnel of user journey b) goals c) events that will assist us to judge the performance of the growth plan.
The epitome of advanced analytics is the monitoring of micro and macro conversions. A macro conversion is a primary conversion on a website, for example, a completed sale on an e-commerce site or a completed lead generation form. A micro conversion relates to smaller engagements such as a newsletter sign up or a user watching a product video. Micro conversions can often precede the macro conversion
Measuring users in cohorts provides benefits in the consistency of analysis and is a technique well applied in the offline world. It helps analyze the long-term benefit of specific groups of customers (for example, customers who first visited within a specified timeframe). It’s the ideal to monitor and judge upon your customer’s retention and identifies glimpses and blind points.
GrowthRocks will also assist you in defining the Main Business Metrics of your company based on the stage and the type of the later. For example, the main ones are:
SaaS: MRR = Monthly recurring revenue
E-commerce = Monthly revenue
Consumer Tech = Monthly Active Users
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