We’ve all heard the expression that “it takes money to make money.”
And one of the most common places companies spend their money – in order to make more of it – is in market research. They know that the better they understand their markets, the better their chances are of being able to sell them their products and services.
Fortunately, there’s a long list of platforms that make it easier than ever for business owners to glean these insights in the Digital Age.
One of the most powerful examples is Adobe Analytics.
What Does Adobe Analytics Do?
Adobe Analytics is a popular platform designed to report real-time insights and historical data to business owners about how their audiences behave, especially once these shoppers arrive on their websites. Business owners can use this information to make immediate changes to their site or to develop long-term strategies to better engage visitors and convert them.
Or as Adobe puts it:
Originally, the platform was part of an online marketing company called Omniture, but Adobe acquired it back in 2009. Since then, Adobe Analytics has been used by hundreds of thousands of businesses, including many familiar names like:
- Du Pont
- The Telegraph
- True Value
And yet, as I’ll show a bit later, most companies that entrust their online success to Adobe Analytics are actually small businesses.
5 Ways Adobe Analytics Will Help Your Company
Let’s talk about why so many business owners think the price is worth it.
In short, Adobe Analytics offers five main benefits, though each one could easily represent its own blog post.
1. Analytics Gathering
The first is the way the platform goes about collecting data, which covers a lot more than simply recording clicks on your website. Adobe uses machine learning, artificial intelligence, and a host of other advanced technologies to gather and present the kind of information you want for your marketing campaigns. With the platform’s Calculated Metrics, you can even set up your own custom analytics to tell Adobe what kinds of user behaviors you want its cutting-edge technology to report on. Then, segment these metrics as you see fit for an even better understanding of your company’s unique market.
2. Channel Monitoring
Second, Adobe Analytics is able to gather this data from just about every channel imaginable, including those that happen offline. So, Adobe Analytics can go beyond just tracking desktop and mobile interactions. The platform can just as easily record information coming from brick-and-mortar stores and wearables or other “Internet of Things” devices. With its Customer Journey Analytics, online and in-store teams will never end up with competing perspectives, making it easy for both to work together at improving sales.
3. Cross-Channel Attribution
Third, Adobe Analytics is practically unrivaled when it comes to cross-channel attribution, which means it’s phenomenal for providing information about every interaction from every single customer, whether it happens through earned, paid, or owned channels. You can trust Adobe’s algorithms to handle these attributions or create your own rules to account for any tendencies specific to your market.
4. Predictive Analytics
And fourth, Adobe really prides itself on their platform’s “predictive analytics.” Instead of simply presenting data about past events, Adobe Analytics leverages AI and machine learning to automatically review this information and make predictions about what the future holds for a company’s online efforts.
5. Reporting That’s Easy-to-Share
It’s also worth noting that, while it’sverypopular with small- and medium-sized business owners, Adobe Analytics was clearly designed with some of the unique needs of enterprises in mind. Specifically, the platform makes it extremely easy to share the insights it gathers, making it easy for colleagues to contribute to your strategy.
Who Is Adobe Analytics For?
According to research done by HG Insights that looked at 52,458 companies using Adobe Analytics, more than 40% report annual revenues of $1,000,000 to $10,000,000. To these companies, generating millions in revenue every year is an easy expense to justify at practically any price.
Interestingly, most companies reporting these kinds of results are small businesses with only 1-49 employees.
So, while the price tag and prestige of this premium platform may intimidate you a bit if you’re a small business owner, many in your position have found that it’s worth the investment.
Don’t Budget for Adobe Analytics without Budgeting the Time to Learn How It Works
One more factor that’s very important to understand about Adobe Analytics before paying for it is that making the most of this platform requires more than just an investment of money. You’ll also need to invest a significant amount of time into learning how Adobe Analytics works.
For many marketers, this means going through the process to become certified in the platform. Adobe recommends that you spend at least two years gaining experience with analytics before you bother paying to take the certification exam.
However, at the very least, you should expect to spend a minimum of three months learning how to become proficient with Adobe Analytics.
As I covered earlier, this platform is extremely robust. I’d even go so far as to say that Adobe Analytics can be overwhelming if you don’t understand it – to say nothing of how much money you’ll be wasting if you’re not able to take full advantage of what it can do.
Having experience with other analytics platforms, like Google’s, will definitely help, but Adobe’s version isa little less user-friendly. It simply has much greater capabilities, which will take you some time to learn.
My point is that, before you devote too much of your budget to Adobe Analytics, make sure you’re also giving yourself the time to understand all the information it will provide and how to put it to use.
Try Out Adobe Analytics for Yourself
Deciding to entrust your website’s success to an analytics platform is a big decision, especially when it means leaving behind free options like Google Analytics.
Fortunately, Adobe offers a demo version you can try out for free. Plus, long before you ever buy a license, you’ll have plenty of time to speak with Adobe’s team about how their platform can help your business.
So, if you’re looking for a way to better attract, engage, and sell your customers, give Adobe Analytics a try for free to see why it’s become one of the most popular options for some of the world’s most well-known brands.