Customer journey analytics allows support, sales and marketing teams to manage and track cross-channel journeys cohesively to help improve customer experiences and increase ROI.
Do you want to know more about where your customers come from?
Or, more specifically, do you want to know which marketing initiatives are driving your most valuable customers?
Let’s assume the answer is yes.
What’s the most effective way to track your customer’s touchpoints throughout the sales funnel?
With customer journey analytics, of course!
For this article, we’ll discuss:
- How customer journey analytics works
- Why customer journey analytics is different to traditional analytics
- How customer analytics analytics can answer the most difficult questions
- Best customer journey analytics tools for marketers.
Wait, what’s customer journey analytics?
Customer journey analytics allows marketing, sales and customer support teams to connect every touchpoint that a user engages with across multiple channels and campaigns before converting into a sale—and beyond.
Combining marketing activity, with engagement and conversion data, helps businesses understand the return on investment and prioritise budget spend in the right areas.
Teams can come together to plan and execute customer experiences and help ensure that more relevant and consistent communication is delivered to the customer at different stages of the buying cycle.
More importantly, customer journey analytics allows you to harness data about your customers which you can use to significantly impact business outcomes such as reducing churn, increasing retention, as well as understanding lifetime value and revenue.
How is customer journey analytics different from traditional analytics?
Customer journey analytics is an approach to measurement that allows you to link customer experiences to quantitative metrics in a way that traditional analytics can’t.
In this survey, 81% of business decision-makers are dissatisfied in the speed in which analytics are delivered today, and 69% are dissatisfied with the quality of work.
Why is that?
Well, it helps if we discuss some of the limitations of traditional analytics.
Exponential growth of customer touchpoints. The customer journey has changed a lot over the last decade, and so has the importance of tracking each touchpoint of the buying cycle. On average, consumers use ten different channels, both online and offline, to communicate with companies before converting into a sale. With traditional analytics, businesses are grappling to understand customers’ actions across these various touchpoints, and in most cases, are going untracked.
Manual data integration is difficult and often inaccurate. Here’s some good news. The data you need to connect the dots throughout the customer journey does exist. It’s just in silos in other systems. So, what’s the problem? Manually extracting data out of your analytics and other data points, such as your CRM, is time-consuming and often inaccurate. In most cases, there is a difference in the way a ‘conversion’ is recorded in Google Analytics and the CRM. So, even if you did integrate your data, it’s still impossible to make the connection between each platform to gain a unified overview of the consumer path.
Doesn’t answer important questions. While most analytics tools are set up for quantified information, the data it provides can often raise more questions than provide answers. Whilst day-to-day marketers are interested in bounce rate and click metrics, company executives want high-level indicators into how and why marketing has impacted their customer lifecycle.
Customer journey analytics can answer the most difficult questions
As we’ve already discussed, customer journey analytics allows support, sales and marketing teams to manage and track cross-channel journeys cohesively to help improve customer experiences and support growth objectives.
The best thing about customer journey analytics is that it helps you confront the most complex questions commonly asked by company executives and clients, such as:
- How does marketing help bring in clients?
- How can we accelerate conversion sales?
- What touchpoints did my customers engage with before converting into a sale?
- What channels are most effective—or least effective—at turning leads into customers?
- What is my return on investment on XYZ campaign?
- Which marketing activities drive the highest lifetime value?
Unlike traditional marketing tools, customer journey analytics focuses on metrics that tell you more about your customers and combines data to give you a complete picture of your overall performance.
You can directly tie customer journeys to wider business outcomes, to measure and track revenue, profitability and the other overarching metrics on which you and your other teams are measured.
Customer journey analytics to help you get started
Despite the upfront cost of customer journey analytics, it’s designed to save you money and increase the ROI of your strategies in the long run.
Customer journey analytics allow teams to measure, track and analyse lead and customer behaviour across a variety of channels.
There isn’t a one-size-fits-all tool when it comes to customer journey analytics, but to make things easier for you, we’ve shortlisted some solutions for you to consider.
Let’s dive in.
We couldn’t write about customer journey analytics and not mention Ruler Analytics.
Ruler Analytics is a closed-loop marketing attribution solution which aligns revenue from your CRM with marketing activity so that you can track your customers’ touchpoints–online and offline–to measure and attribute value accurately across the entire sales cycle.
The Ruler Analytic software tracks each anonymous visitor over multiple sessions, traffic source and keywords. Once an anonymous visitor converts into a lead, Ruler Analytics matches the user’s details to their marketing touchpoints and sends all this data to your CRM.
This populates the sales team’s system with conversion and marketing data, which helps them learn more about each prospect before reaching out to them.
Whenever a lead closes into revenue, the sales data is automatically sent back into the Ruler Analytics dashboard which can be passed on to the reporting tools you use every day.
Price: From £99/month. Price request for enterprise companies.
Adobe Customer Journey Analytics
Customer journey analytics provides a toolkit to business intelligence and data science teams that help them stitch and analyse cross-channel data. Its capabilities deliver context and clarity to the complex multi-channel customer journey.
Price: Contact for information.
Alterian’s Journey Analytics allows brands to see actual journeys and drill into the performance of particular initiatives. Companies can track and measure where customers drop out of a journey and understand why they didn’t reach their intended objective.
Price: Available on request.
Heap is an analytics platform that helps product, marketing, and customer success teams create personalised digital experiences that help convert and retain more customers.
Price: Available on request
Nexidia Analytics enables you to track and understand the customer’s entire journey across all touchpoints. It provides you with insights to help improve the quality and effectiveness of your interactions.
Price: Available on request.
Optimove processes all customer data into a single customer view to make it easily accessible to non-technical users, while also providing smart insights to help better understand your customers and optimise for better quality.
Price: From $4,000/month.
Woopra is a customer journey analytics solution that is redefining how companies understand, analyse, and retain their customers. It allows you to leverage individual-level data to aggregate analytics reports for full lifecycle insights to help bridge departmental gaps.
Price: From $999/month.
Modern companies are using customer journey analytics to understand behaviours and confront the most difficult questions asked by company executives and clients.
Using customer journey analytics, you too can help you unlock valuable data across the entire buying cycle, identify your most profitable campaigns, and if used correctly, can significantly increase your ROI.