Initially, Mixpanel provided product usage information to development teams. Increasingly, especially with the end of cookies and third-party data, product data is becoming more valuable to other parts of the company, and Mixpanel makes it easier for marketers to access it with a new product called Mixpanel Marketing Analytics.
CEO Amir Movafagi says companies have typically used traffic analytics tools to determine who is using their product or site, but he says those tools were missing important conversion information, who is converting into customers — and that’s where Mixpanel believes it can differentiate itself from competitors’ tools.
“Now we will make it so that specific user acquisition and traffic data will give a real understanding of the effectiveness of campaigns right in Mixpanel. So the marketing team doesn’t have to go to Adobe or Google at all . They can just use Mixpanel for their needs,” Movafagi told TechCrunch. At least he hopes so.
He says ditching cookies and moving to first-party data is good for his company, but now that data is suddenly even more valuable to the marketing team. “On the one hand, one of the incentive features was the end of the use of third-party cookies, as well as the fact that data privacy has become the subject of intense scrutiny by all regulators in the EU, the US and more broadly. And it has really been a major catalyst for marketing teams and organizations to realize that their own data is a treasure trove of information,” he said.
Marketing teams can now take advantage of Mixpanel data to better understand and target customers to improve customer experience. That required creating task-focused templates in the interface, he says, as well as simplifying queries so that it’s easier for every role—product or marketing—to get and use the data in a way that makes sense to them.
This can have the added benefit of helping sales, marketing, and product teams better understand and coordinate each other using the same tool. “The whole way that marketing and product teams come together and collaborate closely is in their ability to actually go from point A to point B entirely within Mixpanel. From acquisition to conversion to retention, with full lifecycle management. To see how these things affect what is important for the company,” he said.
Moreover, according to him, the new product was designed to work closely with marketing automation tools. “Mixpanel is a channel where you can directly connect all these cohorts created in Mixpanel to your marketing automation tool,” he said. This means that you can use this information for email targeting, ads, and so on.”
This new product gives the company a new entry point to customers when it comes to selling and marketing Mixpanel, and the potential to sell the product more broadly than before when it was only useful to the development team.
Mixpanel Marketing Analytics is available today at no additional cost to Mixpanel subscribers.
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