From a marketing perspective, companies focus on delivering great digital experiences because they create happy and loyal customers and drive revenue. Yet, when it comes to developing a great digital experience, we see too many companies falling into a 'guess and check' strategy.
Candidly, this isn’t a reliable strategy for building something people love. What is? Build. Test. Measure. Then iterate. Over and over.
So, if we all know the strategy, why aren’t teams further ahead?
Because too many are forced to rely on tools that are ill-equipped to deliver relevant and recent data about “how users interact” with their product. As a result, teams are flying blind; they can’t move quickly to create impactful digital experiences, and lack the confidence to make decisions about how to build their products.
So what’s getting in the way? In our experience, it’s what teams can’t see and can’t do that is tripping them up. Having helped over 9000 companies leverage digital insights to accelerate their businesses, we’ve isolated four roadblocks that repeatedly limit teams’ ability to create usable and satisfying products:
(1) Data gaps
Our recent research found that 63% of behavioral funnels are missing an alternate path to customer conversion. Because teams aren’t able to collect all the data on their users’ behavior, most end up missing huge portions of what their customers are really doing on their products and sites. The result? Teams are making choices based solely on the behaviors they’re able to track, instead of what’s actually happening which are often unexpected user behaviors.
To overcome this, teams need access to all the user data from their site or product, so they can see how users are actually interacting with the experience that’s being delivered to them. When teams can take these complete datasets and pair that data with data from other tools, the speed of the test-measure-iterate cycle increases dramatically, as does the ability to home in on the most important friction points in the user journey.
(2) Blind spots
Our recent research also found a sobering reality: only 16% of product teams say they know why most customers drop off their site. Why is this? Our other research indicated a cause: the funnels teams use to track user behavior are misleading 84% of the time. Not only are teams not able to collect all the data they need — even when they do collect that data, their tools are configured to deliver false information! Our Digital Experience Insights Report explains why. The short answer is that most tools encourage teams to make assumptions about the user journey and assume user behavior is linear and sequential, when in fact it’s far more likely to be the opposite. Analytics that rely on manual tagging rely on these biased assumptions. The result: blind spots that obscure key sections of the user journey.
To create the best possible digital experiences and keep users from clicking to your competitors’ site, teams need more advanced tools that aren’t limited by manual interventions, and can reveal untracked interactions, moments with outsized impact on conversion or retention.
The digital world is rapidly changing, and delays in data gathering and analysis have the potential to kill a company’s best product advancements. Our research also found, nearly 30% of events have their definition changed in the first 6 months after being defined. With current tools, it can take teams weeks or months to get the data they need. Beyond losing competitive advantage, the cost of these delays is speed to impact – quickly moving from hypothesis to insight to action. While your team is waiting, your customers are already moving on.
By automating routine processes, product teams can keep pace with customer needs and wants, and capitalize on key opportunities by quickly turning data into insight.
You can eliminate data gaps, blind spots, and delays, but if no one trusts the results, then all is for naught. Sadly, more often than not, product teams don’t have this confidence. An HFS Research study found that 75% of business executives do not have a high level of trust in their data.
The key to success — quickly pinpointing key digital behaviors for valuable insights so you can move from 'guess and check' to 'test and act'. These insights must be captured at lightspeed — not the speed of your business, but the speed of your customers. Today’s economy is fiercely competitive. Switching costs are low. To retain users, teams must see data in real time to quickly assess how they might improve their product to streamline and enhance the user experience.
Research suggests the average user spends just 55 seconds on a webpage, and 4 minutes and 17 seconds during an average website visit. The real question is, 'Are your tools giving you the insights you need to make the most of their precious time?'.
To learn more about how the right insights can speed up time to impact and help you deliver a digital experience that pushes your business forward, we encourage you to read more about why you need a digital insights platform, or visit us at heap.io.