At the heart of digital transformation is the way it fundamentally changes how businesses make decisions. In the past, business leaders had to rely on intuition, institutional knowledge, and management judgment when deciding where to focus resources. Now, new digital systems are delivering vast amounts of hard data that provide insights, and those data-informed insights are driving corporate decision-making. Nowhere is this more apparent than in the way data is transforming the customer experience.
Consumers today demand a personalized and seamless experience with the key brands they consider or buy from. To meet this requirement, brands must continually enhance how they use analytics tools to improve their personalization efforts and create a compelling user experience. This has resulted in a wave of new products that deliver the analyses used to enhance the customer experience. Some of these products are provided at no charge, and for some businesses free software is a tempting option.
Yet, as the saying goes, you usually get what you pay for. Customer-analytics activities are often highly demanding, and the impact of poor analyses can be devastating. If the analytics tools aren’t capable, the money saved on a free license may be a pittance when compared to the revenue and customers that could be lost if the analysis isn’t correct.
In this BrandPost, you’ll learn what two major brands experienced when they used free software to deliver enterprise-grade analytics.
Procore is a leading provider of construction management software. Construction projects have a large number of moving pieces, numerous contractors and subcontractors, and massive interdependencies that must be managed within a tight schedule. Procore’s solution supports many of the biggest construction brands. The company’s website is a critical resource for both customers and prospects. Procore strongly believes that every step of the customer journey should be informed by data, but the company was struggling to get deep insights about its website visitors by using free analytics tools.
As Nait Gallego, senior manager of web development at Procore, put it: “Prior to using Adobe Analytics, we struggled with gaining an accurate view into each of our website visitors and their journey. With Adobe Analytics, we have a more complete view of each visitor and their journey on our web properties.”
Another brand that found free analytics tools coming up short is Relevent Sports Group (RSG), whose mission is to bring the appeal of international soccer to the United States, focusing on “elevating sports and entertainment properties on a global scale.”
RSG found that its plans were limited by a lack of insight into fan experiences and expectations. It struggled to gain a level of understanding of the customer experience that would support business goals. Aidan Lyons, senior vice president of growth marketing and global analytics at RSG, saw the opportunity to make an impact with enterprise-grade analytics.
“With Google Analytics, we struggled with true fan engagement intelligence — it was too simple for the type of entertainment experience Relevent Sports Group is looking to drive,” Lyons said. “Pivoting to Adobe Analytics helped us discover deeper insights that lead to personalized moments, generating an immediate impact on our bottom line.”
The real value of customer experience and engagement analytics is measured in revenue increases, customer retention, and prospect conversion. Risking those large returns does not justify the minimal savings from free or low-cost software licenses. Competition in today’s business is at a fever pitch, and it’s essential that the analytics tools used by your organization enable you to succeed.