In spite of the volume of data growing constantly, businesses are still struggling to get a real view into the journey their customers are taking – right from being a prospect to making a purchase. High expectations of consumers combined with the ever-increasing amount of marketing content your business is producing along with the screens you need to deliver this content to, the online trail becomes confusing quickly. While deep analysis is the key to differentiating your business from those of your competitors, the experiences you are delivering to your customers, as per the complete view of the customer path, is what can turn a one-time customer into a long-time customer.
At Adobe Summit held in the month of March of 2019, Adobe Analytics the leading web analytics solution provider introduced some new innovations in the Adobe Analytics Cloud. The purpose of bringing these innovations was to provide business analysts and data scientists a way for mapping the journeys of customers more precisely than ever before. Building further the leadership of Adobe in the analytics industry, this new release came up with deeper insights with Journey IQ and new Analytics’ integrations with Adobe Advertising Cloud and People-Based Destinations in Adobe Audience Manager. Now brands are able to activate their audience-related data within prominent social platforms for the first time by leveraging the DMP or Data Management Platform.
Jeff Allen, who happens to be the Senior Director, Product Marketing of Adobe Analytics Cloud shared his views over this. He said that the process of stitching together offline and online interactions of a consumer for having a holistic understanding of them remains a big challenge for the brands. He further added that it obstructs their ability to give consistent, compelling and continuous experiences irrespective of where and when a customer engages. He then said that with these new industry-first capabilities introduced in Adobe Analytics, business organizations will get a more complete picture of the whole journey undertaken by the customers instantaneously.
New Features Introduced in Adobe Analytics:
Deeper customer insights: Analytics now display where business brands missed marketing opportunities, the way engagement levels have evolved over the passage of time. Also, they will show the details into the behaviour of consumers before and after particular events. As an example, an enterprise can see what a customer was doing right before purchasing a product and what he did do after the purchase. New Journey IQ adds strong capabilities for slicing data by cohorts before performing behavioural user analyses like pathing, fallout and flow analysis. As an example, a retail business can precisely track which brand engagements spurred a consumer to buy more clothing during its Christmas sale, in comparison to other consumers who did not convert. This will eventually help businesses in building better and more rewarding future marketing strategies.
Streamlining data and advertising workflows: As marketing and advertising often operate in silos, this makes it difficult for businesses to have an understanding of the complete customer journey. By leveraging the Adobe Advertising Cloud, business brands can now gain insights into how advertising drives website behaviour, by joining together paid media engagements and actions taking place on their website. As an example, a media company can access instantly deep insights around a particular ad campaign it undertook, like which particular creative or targeting strategy was responsible for the best on-site performance.
New Features Brought in Adobe Audience Manager
Power of personalization across channels: Businesses know that they must do marketing where the consumer is, but activating audience-related data seamlessly across marketing channels, including social networks, has been challenging in terms of latency and workflow. The Adobe Audience Manager is the sole data management platform that allows brands to better activate their first-party data in social platforms by using the hashed first-party identifiers. With new People-Based Destinations, an integration with Adobe Experience Platform Identity Service, business brands can launch social media campaigns with powerful first-party audience data, for informing media buys with more accuracy than ever before.
As an example, a car dealership may see consumers visiting its showroom, but not the consumers who are visiting its website. Through user content and hashed email addresses, the dealership can target those prospective customers who are active on social networks, to encourage their visit to its website and inspire them to make purchases subsequently. Data governance and privacy controls in the Adobe Experience Platform Identity Service help to ensure that the use of consumer-centric data honours choices of customers.
Discovering insights to expand segmentation: Leveraging Adobe Sensei, artificial intelligence (AI) and machine learning technology of Adobe Analytics, the Adobe Audience Manager can now make recommendations of traits at the time of the segment-building workflow for expanding audiences. These recommended traits are built upon a technique whose patent is pending, for computing similarity scores with a high degree of precision.
As an example, a retailer keen to sell winter apparel, will target those customers who have bought sweaters, coats and jackets in the past. This retailer can now leverage AI-powered Trait Recommendations for targeting customers who are less obvious, like those who often buy swimwear in the summer months. These real-time suggestions help business brands in learning more about their customers, widening the reach of their marketing campaigns and improving conversion rates.
To gain more understanding about how Adobe Analytics Cloud can help your business to have deeper insights into customer engagement, contact Devrun experts.