Traditionally, Mixpanel has provided information about product usage to product teams. Increasingly, especially with the end of cookies and third-party data, product data has taken on greater value for other parts of the company, and Mixpanel is making it easier for marketing people to get at it too with a new product called Mixpanel Marketing Analytics.
CEO Amir Movafaghi says that companies have typically used traffic analytics tools to determine who was using their product or website, but he says those tools lacked crucial conversion information about who turned into a customer -- and that’s where Mixpanel feels it can differentiate itself from competitor tools.
“The piece that we're now really unlocking is that specific acquisition [data] and the traffic by being able to actually get and understand campaign performance in Mixpanel. So the marketing team doesn't have to be on Adobe or Google at all. They can just use Mixpanel for their needs,” Movafaghi told TechCrunch. At least, that's what he's hoping.
He says that the abolition of cookies and the move to first party-data plays into what his company has always done, but that data suddenly has even greater value for the marketing team now too. “On one hand, one forcing function was the end of the third-party cookie, as well as data privacy as a general focus for all regulatory bodies in the EU, in the U.S. and just more broadly becoming top of mind. And that really was a major catalyst for marketing teams and organizations to realize that there's this treasure trove of data in their first-party data,” he said.
Marketing teams can now take advantage of the data in Mixpanel to better understand and target customers with the goal of improving the customer experience. He says that has involved creating job-specific templates in the interface, while simplifying querying to make it easier for each role -- product or marketing -- to get at and make use of the data in a way that makes sense to them.
It could have the added benefit of helping sales, marketing and product teams better understand one another and coordinate in a way that makes sense by using the same tool. “The whole element of letting marketing and product teams come together and collaborate tightly is their ability to actually get from point A to point B completely in Mixpanel from acquisition to conversion to retention -- that full life cycle management -- and seeing their impact on things that the company cares about,” he said. That would presumably involve increasing sales and revenue.
What’s more, he says the new product has been designed to work tightly with marketing automation tools. “Mixpanel is a conduit where you can basically directly connect all of these cohorts that you built in Mixpanel into your marketing automation tool,” he said. That means you can use this information to drive email targeting, ad targeting and so forth.
This new product gives the company a new point of entry into customers when it comes to selling and marketing Mixpanel, and potentially the opportunity to sell the product more widely than it had been when it was confined to the product team.
Mixpanel Marketing Analytics is available starting today at no extra charge for Mixpanel subscribers.