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• Lean Analytics in a Privacy-First Environment – Bootcamp with Timo Dechau

  29 novembre 2024, par Daniel Crough — Banking and Financial Services, GDPR, Marketing, Privacy, Videos, Featured Banking Content

  In a recent bootcamp, Timo Dechau walked attendees through his approach to data and measurement in privacy-focused analytics environments. He demonstrates how to shift from a chaotic, ‘track-it-all’ mentality to a focused method that prioritizes quality over quantity. This post will summarize some of his key privacy-first analytics ideas, but be sure to check out the on-demand video for more detail.

  Watch the bootcamp on demand

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  Unrestrained data collection leads to data bloat

  Marketing and the business world are experiencing a data problem. Analysts and business intelligence teams grapple with large amounts of data that aren’t always useful and are often incomplete. The idea that “more data is better” became a guiding principle in the early 2000s, encouraging companies to gather everything possible using all available data collection methods. This unrestrained pursuit often led to an unexpected problem : data bloat. Too much data, too little clarity. Digital marketers, analysts, and business leaders now try to navigate vast amounts of information that create more confusion than insight, especially when the data is incomplete due to privacy regulations.

  

  Cutting through the noise, focusing on what matters

  The “more data is better” mindset emerged when digital marketers were beginning to understand data’s potential. It seemed logical : more data should mean more opportunities to optimise, personalise, and drive results. But in practice, gathering every possible piece of data often leads to a cluttered, confusing pile of metrics that can mislead more than guide.

  This approach carries hidden costs. Excessive data collection burns resources, increases privacy concerns, and leaves teams unfocused. It’s easy to get lost trying to make sense of endless dashboards, metrics, and reports. More data doesn’t necessarily lead to better decisions ; it often just leads to more noise, hindering effective data management.

  Rethinking data management : From data overload to data mindfulness

  Data management has often prioritised comprehensive data gathering without considering the specific value of each data point. This approach has created more information, but not necessarily better insights.

  Data mindfulness is about taking a deliberate, focused approach to data collection and analysis. Instead of trying to collect everything, it emphasises gathering only what truly adds value. It’s about ensuring the data you collect serves a purpose and directly contributes to better insights and data-driven decision-making.

  Think of it like applying a “lean” methodology to data—trimming away the unnecessary and keeping only what is essential. Or consider embracing data minimalism to declutter your data warehouse, keeping only what truly sparks insight.

  

  Mindful data is ethical data

  Adopting a mindful approach to data can pay off in several ways :

  • Reduces overwhelm : When you reduce the clutter, you’re left with fewer, clearer metrics that lead to stronger decisions and actionable data insights.

  • Mitigates compliance risks : By collecting less, companies align better with privacy regulations and build trust with their customers. Privacy-first analytics and privacy-compliant analytics practices mean there’s no need for invasive tracking if it doesn’t add value—and customers will appreciate that.

  • Enhances data ethics : Focusing on the quality rather than the quantity of data collected ensures ethical data collection and management. Companies use data responsibly, respect user privacy, and minimise unnecessary data handling, strengthening customer relationships and brand integrity.

  • Improves data efficiency : Focused analytics means better use of resources. You’re spending less time managing meaningless metrics and more time working on meaningful insights. Many companies have found success by switching to a leaner, quality-first data approach, reporting sharper, more impactful results.

  Shifting towards simplicity and lean analytics

  If data mindfulness sounds appealing, here’s how you can get started :

  1. Ask the right questions. Before collecting any data, ask yourself : Why are we collecting this ? How will it drive value ? If you can’t answer these questions clearly, that data probably isn’t worth collecting. This is a key step in smart data management.

  2. Simplify metrics. Focus on the KPIs that truly matter for your business. Choose a handful of key metrics that reflect your goals rather than a sprawling list of nice-to-haves. Embracing data simplicity helps in targeting data collection effectively.

  3. Audit your current data. Review your existing data collection processes. Which metrics are you actively using to make decisions ? Eliminate any redundant or low-value metrics that create noise. Use ethical data management practices to ensure data efficiency and compliance. Understanding what is data management in this context is crucial.

  4. Implement lean analytics practices. Shift towards lean analytics by cutting down on unnecessary tracking. This can involve reducing reliance on multiple tracking scripts, simplifying your reporting, and setting up a streamlined dashboard focused on key outcomes. Embrace data reduction strategies to eliminate waste and boost effectiveness.

  Who should watch this bootcamp

  This bootcamp is perfect for data analysts, product managers, digital marketers and business leaders who are seeking a more streamlined approach to data measurement. If you’re interested in moving away from a chaotic “track-it-all” mentality and towards a focused, lean, and privacy-first analytics strategy, this workshop is for you.

  What you’ll discover

  • Practical steps : Learn actionable strategies to reduce data bloat and implement lean, privacy-first analytics in your organisation.

  • Real-life examples : Explore case studies of companies that have successfully adopted focused and privacy-first analytics.

  • Deep insights : Gain a deeper understanding of how to prioritise quality over quantity without sacrificing valuable insights.

  Watch the bootcamp on-demand

  For a comprehensive dive into these topics, watch the full workshop video or download the detailed transcript. Equip yourself with the knowledge and tools to transform your data management approach today.

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• Top 5 Customer Segmentation Software in 2024

  12 mars 2024, par Erin

  In marketing, we all know the importance of reaching the right customer with the right message at the right time. That’s how you cut through the noise.

  For that, you need data on your customers — even though gathering the data is not enough. You can have all the data worldwide, but that raises an ethical responsibility and the need to make sense of it.

  Enter customer segmentation software — the answer to delivering personalised customer experiences at scale. 

  This article lists some of the best customer segmentation tools currently in the market. 

  We’ll also go over the benefits of using such tools and how you can choose the best one for your business.

  Let’s get started !

  What is customer segmentation software ?

  Customer segmentation software is a tool that helps businesses analyse customer data and group them based on common characteristics like age, income, and buying habits.

  The main goal of customer segmentation is to gain deeper insights into customer behaviours and preferences. This helps create targeted marketing and product strategies that fit each group and makes it easier to predict how customers will behave in the future.

  

  Benefits of a customer segmentation software

  Understanding your customers is the cornerstone of effective marketing, and customer segmentation software plays a pivotal role in this endeavour. 

  You can deliver more targeted and relevant marketing campaigns by dividing your audience into distinct groups based on shared characteristics. 

  Specifically, here are the main benefits of using customer segmentation tools :

  • Understand your audience better : The software helps businesses group customers with common traits to better understand their preferences and behaviour.
  • Make data-driven decisions : Base your business and marketing decisions on data analytics.
  • Aid product development : Insights from segmentation analytics can guide the creation of products that meet specific customer group needs.
  • Allocate your resources efficiently : Focusing on the customer segments that generate the most revenue leads to more effective and strategic use of your marketing resources.

  Best customer segmentation software in 2024 

  In this section, we go over the top customer segmentation tools in 2024. 

  We’ll look at these tools’ key features and pros and cons.

  1. Matomo

  

  Matomo is a comprehensive web analytics tool that merges traditional web analytics, such as tracking pageviews and visitor bounce rates, with more advanced web analytics features for tracking user behaviour. 

  With robust segmentation features, users can filter website traffic based on criteria such as location and device type, enabling them to analyse specific visitor groups and their behaviour. Users can create custom segments to analyse specific groups of visitors and their behaviour.

  Presenting as the ethical alternative to Google Analytics, Matomo emphasises transparency, 100% accurate data, and compliance with privacy laws.

  Key features

  • Heatmaps and Session Recordings : Matomo provides tools that allow businesses to understand website user interactions visually. This insight is crucial for optimising user experience and increasing conversions.
  • Form Analytics : This feature in Matomo tracks how users interact with website forms, helping businesses understand user behaviour in detail and improve form design and functionality.
  • User Flow Analysis : The tool tracks the journey of a website’s visitors, highlighting the paths taken and where users drop off. This is key for optimising website structure for better user experience and more conversions.
  • A/B Testing : Businesses can use Matomo to test different versions of web pages, determining which is more effective in driving conversions.
  • Conversion Funnels : This feature allows businesses to visualise and optimise the steps customers take toward conversion, identifying areas for improvement.

  Pros 

  • Affordability : With plans starting at $19 per month, Matomo is a cost-effective solution for CRO.
  • Free support : Matomo provides free email support to all Matomo Cloud users.
  • Open-source benefits : Being open-source, Matomo offers enhanced security, privacy, customisation options, and a supportive community.
  • Hosting options : Matomo is available either as a self-hosted solution or cloud-hosted.

  Cons

  • Cost for advanced features : Access to advanced features may incur additional costs for Matomo On-Premise users, although the On-Premise solution itself is free.
  • Technical knowledge required : The self-hosted version of Matomo requires technical knowledge for effective management.

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

  Start for free

  No credit card required

  2. Google Analytics 

  

  Google Analytics 4 (GA4) comprehensively understands website and app performance. It focuses on event-based data collection, allowing businesses to understand user interactions across platforms. 

  Similarly to Matomo, GA4 provides features that allow businesses to segment their audience based on various criteria such as demographics, behaviours, events, and more.

  Key features

  • Event-based tracking : GA4’s shift to an event-based model allows for a flexible and predictive analysis of user behaviour. This includes a detailed view of user interactions on websites and apps.
  • Machine Learning and Smarter Insights : GA4 uses machine learning to automatically detect trends, estimate purchase probabilities and provide marketing insights.
  • Google Ads integration : The integration with Google Ads in GA4 enables tracking customer interactions from first ad engagement, providing a holistic view of the customer experience across various platforms.
  • Customer-centric measurements : GA4 collects data as events, covering a wide range of user interactions and offering a comprehensive view of customer behaviour.
  • Pathing reports : GA4 introduces new pathing reports, allowing detailed user flow analysis through websites and apps.
  • Audiences and filters : GA4 allows the creation of audiences based on specific criteria and the application of filters to segment and refine data analysis.

  Pros 

  • Integration with various platforms, including Google Ads, enhances cross-platform user journey analysis.
  • GA4 has a clean reporting interface, making it easier for marketers to identify key trends and data irregularities.
  • Google Analytics has an active community with an abundance of educational resources available for users.

  Cons

  • Complexity for beginners : The wide range of features and new event-based model might overwhelm users new to analytics tools.
  • Dependence on machine learning : Reliance on machine learning for insights and predictions may require trust in the tool’s data processing and large volumes of traffic for accuracy.
  • Transition from UA to GA4 : Users familiar with Universal Analytics (UA) might find the transition to GA4 challenging due to differences in features and data models.

  3. HubSpot

  

  HubSpot is a marketing and sales software that helps businesses attract visitors and turn them into paying customers. 

  It supports various business processes, from social media posts to email marketing, sales, and customer service. HubSpot organises and tracks user interactions across different channels, providing a unified and efficient approach to customer relationship management (CRM) and customer segmentation.

  Businesses can leverage HubSpot’s customer segmentation through lists, workflows, and smart content.

  Key features

  • Integration capabilities : HubSpot offers over 1,000 integrations in its ecosystem, ensuring seamless connectivity across various marketing, sales, and service tools, which helps maintain data consistency and reduces manual efforts.
  • Segmentation and personalisation : HubSpot allows businesses to deliver personalised content and interactions based on customer behaviour and preferences, using its robust CRM features and advanced automation capabilities.

  Pros 

  • Comprehensive support : HubSpot offers a range of support options, including a knowledge base, real-time chat, and more.
  • User-friendly interface : The platform is designed for ease of use, ensuring a smooth experience even for less tech-savvy users.
  • Personalisation capabilities : HubSpot provides personalised marketing, sales and service experiences, leveraging customer data effectively.

  Cons

  • High price point : HubSpot can be expensive, especially as you scale up and require more advanced features.
  • Steep learning curve : For businesses new to such comprehensive platforms, there might be an initial learning curve to utilise its features effectively.

  4. Klaviyo

  

  Klaviyo is a marketing automation software primarily focused on email and SMS messaging for e-commerce businesses. It’s designed to personalise and optimise customer communication. 

  Klaviyo integrates with e-commerce platforms like Shopify, making it a go-to solution for online stores. Its strength lies in its ability to use customer data to deliver targeted and effective marketing campaigns.

  Key features

  • Email marketing automation : Klaviyo allows users to send automated and personalised emails based on customer behaviour and preferences. This feature is crucial for e-commerce businesses in nurturing leads and maintaining customer engagement.
  • SMS marketing : It includes SMS messaging capabilities, enabling businesses to engage customers directly through text messages.
  • Segmentation and personalisation : Klaviyo offers advanced segmentation tools that enable businesses to categorise customers based on their behaviour, preferences and purchase history, facilitating highly targeted marketing efforts.
  • Integration with e-commerce platforms : Klaviyo integrates with popular e-commerce platforms like Shopify, Magento, and WooCommerce, allowing easy data synchronisation and campaign management.

  Pros 

  • Enhanced e-commerce integration : Klaviyo’s deep integration with e-commerce platforms greatly benefits online retailers regarding ease of use and campaign effectiveness.
  • Advanced segmentation and personalisation : The platform’s strong segmentation capabilities enable businesses to tailor their marketing messages more effectively.
  • Robust automation features : Klaviyo’s automation tools are powerful and user-friendly, saving time and improving marketing efficiency.

  Cons

  • Cost : Klaviyo can be more expensive than other options in this list, particularly as you scale up and add more contacts.
  • Complexity for beginners : The platform’s wide range of features and advanced capabilities might overwhelm beginners or small businesses with simpler needs.

  5. UserGuiding

  

  UserGuiding is a no-code product adoption tool that lets businesses create in-app user walkthroughs, guides, and checklists to onboard, engage, and retain users.

  UserGuiding facilitates customer segmentation by enabling businesses to create segmented onboarding flows, analyse behavioural insights, deliver personalised guidance, and collect feedback tailored to different user segments.

  Key features

  • In-app walkthroughs, guides and checklists : UserGuiding has multiple features that can promote product adoption early in the user journey.
  • In-app messaging : UserGuiding offers in-app messaging to help users learn more about the product and various ways to get value.
  • User feedback : UserGuiding allows businesses to gather qualitative feedback to streamline the adoption journey for users.

  Pros 

  • User-friendly interface
  • Customisable onboarding checklists
  • Retention analytics

  Cons

  • Need for technical expertise to maximise all features
  • Limited customisation options for less tech-savvy users

  What to look for in a customer segmentation software 

  When choosing a customer segmentation software, choosing the right one for your specific business needs is important. 

  Here are a few factors to consider when choosing your customer segmentation tool :

  1. Ease of use : Select a tool with an intuitive interface that simplifies navigation. This enhances the user experience, making complex tasks more manageable. Additionally, responsive customer support is crucial. It ensures that issues are promptly resolved, contributing to a smoother operation.
  2. Scalability and flexibility : Your chosen tool should adjust to your needs. A flexible tool like Matomo can adjust to your growing requirements, offering capabilities that evolve as your business expands.
  3. Integration capabilities : The software should seamlessly integrate with your existing systems, such as CRM, marketing, and automation platforms. 
  4. Advanced analytics and reporting : Assess the software’s capability to analyse and interpret complex data sets, without relying on machine learning to fill data gaps. A robust tool should provide accurate insights and detailed reports, enabling you to make informed decisions based on real data.
  5. Privacy and security considerations : Data security is paramount in today’s digital landscape. Look for features like data encryption, security storage, and adherence to privacy standards like GDPR and CCPA compliance. 
  6. Reviews and recommendations : Before making a decision, consider the reputation of the software providers. Look for reviews and recommendations from other users, especially those in similar industries. This can provide real-world insights into the software’s performance and reliability.

  

  Leverage Matomo’s segmentation capabilities to deliver personalised experiences

  Segmentation is the best place to start if you want to deliver personalised customer experiences. There are several customer segmentation software in the market. But they’re not all the same.

  In this article, we reviewed the top segmentation tools — based on factors like their user base, features, and ethical data privacy considerations.

  Ideally, you want a tool to support your evolving business and segmentation needs. Not to mention one that cares about your customers’ privacy and ensures you stay compliant. 

  Enter Matomo at the top of the list. You can leverage Matomo’s accurate insights and comprehensive segmentation capabilities without compromising on privacy. Try it free for 21-days. No credit card required.

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