Four Ambitious Analytics Tools For Start-ups
By Susanne Webster On March 11, 2015
More and more start-ups rely on analytics tools to check their company’s growth and performance. In the following paragraphs, we present four professional solutions from the cloud, which are the most effective solutions in our practical experience.
Established start-ups know exactly how many web visitors they win in one month, where these visitors come from, how they use the product, which features particularly convince customers, and how many active users the start-up has every month. These start-ups also know the customer acquisition cost and which customers boost company turnover. Besides, start-ups use demographic user data, such as users’ country of origin, gender, and age, to permanently optimise their offers to the target group.
This and other KPIs are interesting not only for the company but also for the press and, above all, for current and potential investors. Any person who wants to convince a financier of the future potential of a company must be able to show good figures. At first, these figures must be registered and analysed, which in practice is easier said than done. A promising remedy is modern analytics tools from the cloud. These tools offer a simple way to analyse the most important KPIs and the successful growth of the company.
In the following, we introduce four professional options, which every start-up should know.
Google Analytics: Still a must
Everyone should know Google Analytics. It is the top dog of analytic tools. Start-ups get high power and free programmes, from which they can get valuable knowledge about their web visitors. With Google Analytics, it is possible to analyze the number of visitors who are converted to customers to measure the company’s growth or “traction,” in start-up jargon. For example, for SaaS suppliers, the number of account registrations is considered to determine the conversion rate. Start-ups that offer mobile apps must determine the download figures. Users can specify, for example, which steps a visitor must go through to achieve the conversion aim. The tool then automatically calculates the conversion rate.
Mixpanel: Any conversion rate is determined
While Google Analytics measures general KPIs as for instance website visitors, Mixpanel measures specific customer actions and user behaviour. Therefore Mixpanel answers questions as “Which website features are used most often? How many English-speaking customers have registered in the last month but are no longer active?
The software supports web and mobile apps. With the help of suitable software development kits (SDKs), which should be integrated into the software, any user event can be registered on a real-time basis. Which events (like signups, logins, or downloads) are recorded is decided by the user himself. The collected data are graphically processed on a modern online dashboard. Here users can provide individual reports and share them with colleagues.
App Annie: Comprehensive statistics for mobile apps
Start-ups, which offer mobile apps are dependent on detailed download figures and other statistics from the app stores. Given this background, analytics tools—like App Annie, which can provide great services in the area of market research—have increasingly gained more importance. The service provides many tools. Through the service, not only one’s own products can be analysed, but apps by third-party manufacturers as well.
Relevant KPIs, like download figures, app rankings, and turnovers, are processed in comprehensive graphic reports. Besides, App Annie offers easy signup: after a user has registered his or her developer account, the user’s app statistics are automatically imported. App Annie supports the app stores of Apple (iOS and Mac), Google, and Amazon. Another plus: the tool is free in the standard design.
Geckoboard: Individual dashboards in browsers
Another interesting tool is Geckoboard, a cloud service begun in London in 2010. With Geckoboard, one can get individual business dashboards. In this case, a dashboard also consists of single diagrams called widgets. Geckoboard provides countless precast widgets for popular online services and business uses; these widgets can be integrated within a short period. Other analytics tools similar to Google Analytics and Mixpanel are New Relic, Chartbeat, appFigures, Intercom, and Flurry Analytics, to mention only a few. Another advantage: users who want to visualise data from their own data stream can use the extensive and well-documented Geckoboard API to provide their own data widgets.
When you have a startup, you always need additional tools to boost your productivity. Analyse your competitors marketing strategy so you can plan yours or redouble your teams productiveness with this list. Would you like to make cheap startup video or learn to build backlinks? You should also to some analyse on your own, get your free Twitter report here and optimize your Facebook page.