How to find the best analytics tool for your marketing in 2021

Companies that use big data as the basis for their marketing have a decisive competitive advantage. Eighty-five percent of companies believe data is "one of their most valuable assets," according to experts.

By leveraging data, companies achieve 50% higher customer satisfaction, 45% more accurate insights for decision making, and 44% more innovation in marketing.

The question is, how can agencies filter the amount of data according to relevance and at the same time develop strategies for specific customers?

In the following, we will introduce you to a few interesting solutions, some of which you may already know and have perhaps already tried out. But also new solutions, which are optimized for agencies, you will find in our list. Let's go!

Get familiar with the basics of data analysis tools

Before you choose a data analytics tool, it's very important to understand its features and how it will benefit your specific customers.

What is a data analytics tool?

A data analytics tool is software that is used to collect and analyze large amounts of user data, for example, to identify trends and predict user behavior.

To use a data analytics tool, you install a tracking library on the website, mobile app, or server. The data analytics tool can then track events such as sessions, entry and exit points, video views, or an item added to the cart. Pretty cool, right?

Why should you use data analytics tools as an agency?

As an agency, you generate a lot of different data from your customers every day. Your goal is to achieve the best result for your customer. In order for you to be able to do effective marketing for your customers as efficiently as possible and without spending a lot of time, it is important that you distinguish and qualify valuable data from less valuable data. This is where analysis tools come into play, which take this work off your hands!

Here are two specific approaches to why data analytics tools can help:
By analyzing user behavior, product teams can determine which features keep users engaged and, on the other hand, identify friction or break points in the user flow. With a data analytics tool, KPIs such as time spent in an app using a particular feature can be analyzed to efficiently optimize individual building blocks in the product. If customers don't take an expected action, you can identify abandonment points and then make feature improvements to encourage that action.

At the same time, as a marketer, you can use data analytics tools to optimize your processes and strategies for your customers by gaining insights into the channels that attract the most (and most valuable) visitors. You can determine which pages on the site bring in the most sales, run A/B tests, see which CTA brings in the most newsletter signups, or see the most popular entry and exit points. Segmentation can be used to define user groups and create more targeted marketing campaigns.

Develop basic criteria for selecting a data analysis tool.

As an agency, if you use the wrong tool, you won't gain actionable insights and you'll have a hard time meeting your customers' expectations. So, as a first step, you should carefully consider the following points and develop a clear strategy.

Business goals

While all data analytics platforms offer basic reporting capabilities, many have features that are better suited for certain goals than others.

For example, if your focus is on personalizing marketing efforts, you'll benefit from software like Mixpanel, which has predictive analytics to identify users who are most likely to convert.

If you're looking to improve user experience and increase retention, a tool like Amplitude, which provides insights into user paths and abandonment points, offers a clearer picture of the state of the product.

Keep these goals in mind when it comes to finding the optimal tool.

Data volume

Many data analytics tools offer tiered pricing plans. Lower tiers, designed for small to medium businesses, limit the number of total monthly users, user sessions, user actions or web properties that can be tracked.

Higher tiers are suitable for the large amounts of data typically generated by enterprises. Enterprise vendors often have machine learning algorithms to quickly analyze large amounts of data.

Here, you should look at what data volumes your customer needs to process and what the system requirements are.

Overview of the best data analysis tools in 2021

Now that you know what you want your data analytics tool to do, it's time to review the options on the market.

Google Analytics

Google Analytics is a widely used platform typically used to generate reports and gain insights into key website metrics. Small and medium-sized businesses can use it for free. For enterprises, Google Analytics 360 is a paid version that is optimal for analyzing large amounts of data. It has advanced tools like custom metrics and AI-powered funnel reporting and attribution modeling.

Top features:

• Seamless integration with all Google cloud offerings
• Optimized configuration of complex tracking with tag management tools
• Return answers to queries in natural language
• Import interaction data from third-party systems for Google Analytics 360

Ideal for:

• Objectives: Increase conversion rates, improve user experience, increase LTV, optimize marketing efforts.
• Roles: Marketer, product manager
• Industries: Marketing and advertising, technology, media, retail, travel
• Company size: small to midsize companies for the free plan; larger midsize companies and enterprises for Google Analytics 360

Adobe Analytik

Adobe Analytics is a robust, highly customizable analytics suite that provides multichannel web and marketing analytics. It is typically used by midsize and large companies with many data sources and large data sets. It is less suitable for startups that only need basic analytics.

Top features:

• Identification of new target groups with sophisticated segmentation and machine learning models
• Transforming data with advanced tools for analysts and data scientists
• Collect and process data from virtually any channel - online and offline, email, video, search, display and more
• Predict customers' likelihood to convert or churn with powerful data science processes

Ideal for:

• Objectives: Identify new audiences, increase conversion rates, improve user experience, increase LTV, optimize marketing efforts, improve website performance.
• Role: marketer, product manager, developer
• Industries: Mid-market to enterprise
• Company size: e-commerce, marketing and advertising, media, travel, financial services, technology

Amplitude

Amplitude helps product managers understand the user journey and improve retention rates by identifying the best and worst performing site or APP features. It provides insights into common user paths, abandonment points, and features that correlate with increased customer retention. Marketers can use Amplitude to create targeted campaigns and conduct A/B testing. An intuitive interface and customizable dashboards help teams gain insights faster.

Top-Feature:

• Get a clear view of product health, including engagement, funnel, cohort retention, and revenue
• Funnel target groups by user-defined events and actions
• Focus on customers who get the highest ROI from product changes, with account-level analytics and CRM integration for B2B companies

Ideal for:

• Objectives: Improve user experience, increase LTV
• Role: product manager, marketer
• Industries: Technology, media, e-commerce, financial services, B2B
• Company size: mid-market to enterprise

Mixpanel

Mixpanel provides web and in-app event tracking to help marketers improve conversion and retention rates. Its advanced segmentation capabilities allow you to dive deeper to uncover trends related to engagement and retention. It even recommends actions to improve these metrics.

Top features:

• Automatically create segments to identify high- and low-performing user groups, new audiences, etc.
• Identify opportunities to improve engagement with predefined "insight" questions.
• Enable more targeted and proactive marketing with predictive analytics
• A/B test app features, colors, text, and images within Mixpanel.

Ideal for:

• Objectives: Increase conversion rates, increase LTV, optimize marketing efforts.
• Roles: Marketer, product manager, developer
• Industries: Technology, media, financial services
• Company size: Small to medium

Kissmetrics

Kissmetrics is a web and mobile engagement platform that combines behavioral analytics with powerful email automation. In doing so, Kissmetrics delivers simple, valuable reporting of customer behavior across devices with precise segmentation and targeting options. Kissmetrics is great for identifying the characteristics of different customer cohorts so you can target them effectively.

Top features:

• Create automated or manual targeted email campaigns based on custom events or funnels
• Identify and monitor custom audience growth segments with cross-platform behavioral reports
• Integrate with e-commerce platforms to import purchase history
  

Ideal for:

• Objectives: Increase conversion rates, increase LTV
• Role: Marketer
• Industries: E-commerce, marketing and advertising, media, travel
• Company size: Small to medium

Woopra

Woopra is a real-time analytics platform that monitors user behavior across product, marketing, sales and support touchpoints. It is intuitive and easy to implement. It provides both high-level analysis of how different user groups move through the funnel, as well as detailed information on individual user journeys to support customer success teams.

Top features:

• Detailed pictures of user interactions with cross-platform integrations such as CRM, mobile, email, social media, and support tools.
• Identify critical barriers and opportunities at every point in the customer experience, from marketing campaigns to product interactions.
• Monitor product performance across multiple dimensions and identify features that drive revenue over the long term

Ideal for:

• Objectives: Increase conversion rates, improve user experience, increase LTV, optimize marketing efforts.
• Role: marketer, product manager, customer success officer
• Industries: E-commerce, technology, media, travel, financial services
• Company size: Small to medium

Another solution for your agency for 2021

smashleads™

smashleads™ is ideal for obtaining specific information about potential prospects for the product or service. The various leads can be segmented automatically and optimally qualified for sales via lead scoring. The statistics provide information about the exact behavior and characteristics of each individual lead, but also about the totality of visitors to a website or landing page. smashleads™ is ideally suited for data-driven lead generation.

Top features:

• Obtain specific information on individual leads
• Automated lead scoring and qualification for sale
• Analysis tool and at the same time lead generation tool in one solution
• Integrations to Google Analytics, Google Tag Manager and 7000 other solutions

Ideal for:

• Objectives: Increase conversion rate, minimize sales effort, generate more leads.
• Role: marketer, product manager, sales associate
• Industries: All
• Company size: Small to medium

• Want to generate more leads and keep your agency marketing data-driven? Try our all-in-one solution for your agency now!

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