How behavioral analytics helps you understand your customers
Behavioral analytics definition
What, exactly, is behavioral analytics, and how can understanding these analytics help your business? It’s a subsection of data analytics that businesses use to reveal insights into the actions of people, focusing on how customers act and why. It includes demographic and geographic data but can go deeper by profiling a user’s past buying activity. By getting to know their customers, companies can improve a product to achieve business goals more quickly.
In this article, you can expect to learn:
- How to successfully use behavioral analytics
- Key takeaways of behavioral analytics
- How to understand the customer journey and hit business goals.
How to successfully use behavioral analytics
Behavioral analytics starts with hard data on customers. Take, for example, an online advertiser who wants to send the right offer at the right time to customers. They’ll analyze demographic data, any past search or social information, and a locational market to put the user into a bigger group, sometimes called a cohort. Then the user is served ads that match the ads that have the highest success rate with that group.
- Find and select goals, metrics, and KPIs. To get you started, think about retention, conversion, and engagement.
- Define the most important and critical user paths aligned with your goals. Closely examine the customer journey and pinpoint where and how it intersects with the proposed goal.
- Create a classification for user events and a tracking plan. User events could include actions such as login frequency, time spent on a page, and online shopping cart activity.
- Set user properties and event properties. Assign unique identifiers to users so they can be tracked across platforms and connect the touchpoints along their journey.
- Verify user events and begin tracking. Use test devices to verify that the user event and tracking is firing properly.
Key takeaways of behavioral analytics
- Behavioral analytics track users and collects data to better understand customers’ actions.
- Companies use this hard data to inform business strategy and to hit goals, metrics, and KPIs.
- The data could include information like demographic, geographic, login frequency, time spent on a page, and online shopping cart activity.
- A few important steps to behavioral analytics are identifying goals, creating a tracking plan, setting user properties, and verifying user events.
How to understand the customer journey and hit business goals
Interested in finding out more about how tracking behavioral analytics can be helpful for your business? Adobe Analytics takes data from any point in the customer journey and turns it into an insight that guides your next best action. It uses artificial intelligence (AI) to deliver predictive insights based on the full scope of your data. Get the insightful foundation you need to build better customer experiences with in-depth analysis, versatile reporting, and predictive intelligence.