Your product is like a plant 🌿 - to make sure it blooms to its full potential, you need to use the right tools! 🛠️
So how do you ensure you have a kickass product that people love? 💕
Product analytics tools are your best friend! 🤝
Using them can show you how the world interacts with your product, which means you can use the data to ensure your business performs even better.
There are a ton of excellent product analytics tools in the world today. It might get exhausting to find the best ones on your own 😮💨
Don’t worry. We’ve got your back!
Here’s a list of eight of the best ones to kickstart your lifelong journey with optimizing your product – and some bonus content to help you pick the right one for your team! 🎯
Three Important Benefits of using a Product Analytics Tool
Product analytics is user-focused, and granular, and aims to improve your product. A product analytics tool is reliable for gathering data and receiving objective feedback on your digital product.
Such a tool is truly an investment – and here’s why:
Customer acquisition is critical 🗝️
It’s the stage where your customers discover your product.
To improve this funnel stage, you’ve got to know where your customers come from.
Which channels do they prefer?
What does it cost you to acquire each user?
Which of your users are the best prospects for conversion?
In SaaS, product analytics tools make it easy for you to gather and make sense of all this data.
You can go in-depth to learn how frequently customers visit your product and user interact with your product’s specific features.
What’s more – you can even optimize your acquisition strategy by looking at parameters like location, age, or behavioral data based on your customers’ actions.
Acquisition was about talking the talk. Now, activation is about walking the walk 🏃♂️
Activation is where your customer is actively trying out your product, and it’s your chance to display your product’s value proposition in the hopes of a conversion.
Product analytics tools can help product managers trace and understand their customer’s journey to their ‘Aha!’ moment of becoming a paying customer.
It’s a Eureka 🤯 moment when your user fully understands your product’s value and is ready to convert.
But this doesn’t just come immediately – it’s the climax of many micro-conversions where your user finds value in your product’s features as they experience it in steps.
You can then optimize these steps with the help of product analytics tools!
You’ve converted users to become paying customers at this point in the funnel.
Onto the next hurdle: How are you avoiding churn and ensuring customer retention?
An important piece 🧩 of the puzzle is product usage and user data.
That’s where product analytics tools come in – you can track all of your paying customers to see who is satisfied, unsatisfied, or inactive and why.
This way, you can use product analytics to improve overall customer success with targeted approaches, depending on whether you want to retain a happy user or win over an unhappy one.
Eight Best Product Analytics Tools for Product Teams in 2022
Let’s dive straight into our list!
Toplyne is a fantastic SaaS platform you can use alongside other product analytics solutions.
With Toplyne, you can:
- Make the most out of your product analytics data
- Automate the process of identifying happy customers
- Determine what go-to-market (GTM) strategies will work best for each lead
This tool serves as a bridge between your siloed product analytics tools and your GTM systems.
- Integrate the tool with top product analytics tools like Amplitude and Mixpanel
- Determine the best GTM strategy (re-marketing/automated messaging/sales assist motion/in-product nudges) for new and existing customers
- Send every product-qualified lead to your chosen sales channel (email, Salesforce, Webhook, etc.)
- Craft an in-product tailored customer experience to encourage users to invite more users
- Contact sales to get pricing.
2. Google Analytics
Google Analytics has been around forever – it’s the default choice for those unsure which data analytics software to get started with.
It’s an excellent tool for data collection and figuring out where your traffic is coming from, and the GA4 update has new features that make it more sophisticated than ever.
But Google Analytics’ strength lies in aggregate data and trends. You might want to look elsewhere if you’re looking for detailed insights about individual users and user behavior.
- Get detailed reports on Audience, Acquisition, Behavior, and Conversion
- Create custom reports or edit existing ones to align with business goals
- Move away from cookies-based data and track customers across devices with AI and machine learning instead
- Integrate with a wide range of related services and tools like GitHub, Stack Overflow, Twitter, YouTube, etc
- Use the advanced event tracking feature to collect data on video engagement, how far down the page a user scrolled, PDF downloads, etc
- Free version available
- Google Analytics premium costs $12,500/month or $150K/ year
3. Amplitude Analytics
Amplitude goes beyond basic website metrics – it’s a great option to focus on tracking and analyzing user behavior.
This product analytics platform gives your team self-service product data to understand users, drive conversions, and increase customer engagement.
It’s free to start with, event-based, and provides granular user data that covers all the bases of users’ behavior analytics.
- Create powerful behavioral cohorts to identify your most important customers
- Sync cohorts and integrate with powerful tools like Gatsby, Optimizely, Segment, Amazon Redshift, and Looker
- Analyze conversion and retention drivers through detailed reports and actionable insights
- Visualize your data and customer journeys using the Amplitude dashboard
- Starter plan: Free
- Paid plans: Contact sales
4. Adobe Analytics
This analytics platform uses AI and machine learning to give your team a 360° view of your customer’s journey.
By tracking users across your mobile apps, sites, and other brand channels, Adobe Analytics turns data into actionable insights for your benefit.
- Use artificial intelligence and machine learning to get insights into bounce rates, page views, and other customer-based metrics
- Integrate data from virtually any channel and analyze customer data in real-time
- Create a targeted campaign by compiling user data for various online channels like web, mobile apps, videos, and social media
- Use predictive insights for more informed decision making
- Integrates with Adobe Target, Advertising Cloud, and Adobe Experience Manager
- No free plans, contact sales for pricing
5. Zoho Analytics
If you’re looking for extensive, large-scale data integration, Zoho might be your product analytics tool.
The tool internally handles data preparation and management, collaborative analytics, and data storytelling through visual analysis for a better digital experience.
Zoho is a robust and scalable analytics platform that allows you to dive deep into product analytics to optimize your product development, user journeys, and functionality.
- Integrate data from 250+ sources, including files, data feeds, web URLs, databases, and business apps.
- Visually analyze data using charts, widgets, pivot tables, and tabular view components.
- Use Zoho DataPrep, a self-service data preparation and management app, within Zoho Analytics.
- Augment data with technologies like artificial intelligence, machine learning, natural language processing, etc.
- Free trial + free version
- Paid plans: Starting at $25/month
Mixpanel is a powerful self-serve product analytics solution that can help you with user conversion, customer engagement, and retention.
The platform is packed with valuable features essential for product teams trying to understand customer behavior and improve user experience.
Product managers can use it to build retroactive funnels, track which of your features are the most popular, analyze conversion rates, and take your product-led growth to the next level!
- Track key events like account creation, profile creation, and the number of messages sent by the users
- Find patterns and trends in your user data to track what KPI is trending and why (such as onboarding rate, drop-off rate, etc.)
- Access an advanced ‘Flows’ report to see how users navigate your product and where they drop off from your funnel
- Use the self-serve dashboard to create detailed reports and visualize user behavior
- Free plan
- Paid plans: Starting at $25/month
7. Gainsight PX
Gainsight PX helps you drive product-led growth all the way from acquisition to expansion!
It’s a comprehensive tool for focused user engagement, product roadmaps, scaling user onboarding, and driving product adoption.
With Gainsight PX, you get data accuracy, excellent data security, more control over your customer engagements, and advanced product modeling to map your product.
- Experience quick setup processes and an intuitive UI
- Conduct segmented product analysis to understand usage by industry, persona, project, etc
- Take advantage of the tool’s native feedback tools and native engagement capabilities
- Use the Query Builder to create custom reports without coding knowledge
- Integrate with CS and CRM solutions for deeper analytics on bookings, retention, and expansion
- G2: 4.4/5 (100+ reviews)
- Capterra: NA
- No free plans, contact sales for pricing
If you’re prioritizing performance monitoring and session replay – check out LogRocket.
LogRocket helps you and your team to maximize product engagement, enhance conversions, and resolve software issues.
You can use LogRocket’s features and insights to make better product decisions and, ultimately, provide your users with a better product experience.
- Access pixel-perfect video replay to understand bugs and user-reported issues.
- Build custom funnels based on events like page views, clicks, checkouts, and custom events.
- Make data-driven design decisions using heatmaps and scroll maps
- Track and manage errors to deal with the technical and UX issues affecting your conversions and users
- Integrate with product analytics tools like Heap, Google Analytics, Pendo, etc., and other software development tools like GitHub and Jira
- Use LogRocket with your stack regardless of your language or framework
- Free plan (allows for up to 1000 sessions/month)
- Paid plans: Starting at $99/month
How to Choose a Product Analytics Tool
The magic ✨ of product and web analytics doesn’t just happen – you’ve got to be sure of your positioning and choose the right tool to amp up your product development processes.
Here’s what you need to do 💪 and look for 🔎 to make sure you find a product analytics tool that’s the perfect fit for you:
You need to:
Be clear about your business objective
Make sure your chosen tool aligns ✅ with your business goals.
Think about these questions for clarity:
What are your business goals?
How do you monetize your product?
What is the key value you’re delivering to users?
Once you’ve got this down, you’ll be able to understand your own needs better – and that’s crucial to pick a tool that serves you best.
Narrow down your key product growth metrics
Without the right metrics 📈📉 , you won’t be able to track your growth correctly.
Consider which milestones are essential for you and which metrics are the most vital markers of your growth.
Your chosen metrics can be simple, like Daily Active Users and Monthly Active Subscribers – and they can also be more complex and specific, like the Percentage of Users/Sessions Where the Number of Steps/Clicks Exceeds the Optimal Number.
The ideal tool for you should be the one that allows you to focus on 🧐 and track your chosen metrics!
Your ideal product analytics tool should have:
Your product analytics platform should have advanced capabilities to identify data patterns and forecast future trends in addition to basic product metrics.
Easy user interface
Your product team members rely heavily on product analytics software when making crucial business decisions. Make sure the tool you choose is intuitive and easy to get the hang of.
No matter the size of your organization, you’re probably already using many tools in your workflow, like CRM, automation, project management, and more. You must ensure that the analytics tool you want to use will integrate with your existing toolkit.
The product analytics tool you choose is going to be an investment. Before you commit to any tool, it’s crucial to fully understand the cost structure and subscription models – is it based on user sessions, events, users, or something else? Ultimately, the tool you choose should offer you a great return on your investment.
Now that you know the best options and how to choose your perfect fit, it’s time to crush it 💪 with your product development!
With the amount of product analytics tools out there, you’re likely to be able to find a tool that’s tailored to your exact needs – and our list of the eight best product analytics tools should help you speed up ✈️ the process!
But just having the right tools isn’t enough – you must use them to ensure your product is thriving 👑 !
Toplyne provides the most systematic and seamless way to test, experiment with, and enhance conversion rates and strategies for your SaaS business.
Sign up for free today!