Overview of Amplitude

The practice of capturing data on a lead's behaviors when they land on your website, as well as a customer's interaction with your product, is known as event tracking. Event monitoring software interfaces with your website and product to capture visitor interaction and client involvement. On the other hand, most programs will intelligently monitor user behavior and chronologically organize their actions in a timeline to the proper database record. Regardless of whether the website is loading or not, every interaction can be recorded, categorized, and tagged in event tracking to gain a comprehensive picture of user behavior. In most cases, event tracking is used to track aspects of a website that are created using JavaScript, Flash, or Ajax.

Revenue tracking is used to identify which marketing channels, landing pages, and keywords bring in the most money for your company. Because revenue does not reflect an explicit, defined action made by your visitors like clicks or page views, it is usually not your key metric. On the other hand, tracking revenue is a terrific method to link your optimization efforts to the metrics that matter most to your firm. A sort of custom event objective is revenue tracking goals. A revenue target keeps track of the monetary value of an event on your website and assigns it to a particular version. For example, you might use this to see how different variations affect total revenue and compare it to the number of buy events.

Retention measures how often your product is used over a set period of time. You can, for example, check at retention for a specific event throughout the last week and see how retention changed on each day of that week. The amount of customers retained by a company over a certain length of time is measured by the customer retention rate. The percentage of existing customers that continue to conduct business with you over time is measured by your customer retention rate. It's one of the most significant indicators for determining customer loyalty, and it should be a key performance indicator (KPI) for determining whether your loyalty marketing initiatives are effective.

Cohort analysis is an analytical approach that categorizes and splits data into groups with similar characteristics. This method is commonly used to help firms isolate, analyze, and uncover patterns in a user's lifetime, improve user retention, and better understand user behavior in a specific cohort. Customer cohort analysis is highly beneficial in marketing and business use cases. For example, analysts can determine whether or not the average customer's quality is improving across the customer lifetime by looking at patterns in cohort expenditure over time. The term for this procedure is "lifetime value cohort analysis."

Funnel analysis is a way of determining the steps required to accomplish a specific conclusion on a website, as well as the number of users who complete each stage. Because the standard shape visualizing users' flow is similar to a funnel in your kitchen or garage, the sequence of stages is referred to as a "funnel." For example, consider a hypothetical e-commerce company whose ultimate goal is to get visitors to make a purchase. Visiting the site, adding a product to the shopping basket, clicking to check out, and completing the purchase are required steps to purchase on our site. Objectives or micro conversions are other names for these processes.