This is a subscriber-only article. Join Entrepreneur+ today for access

Learn More

Already have an account?

Sign in
Entrepreneur Plus - Short White
For Subscribers

Analytics Platform Focuses on the Only Stat That Matters: Revenue Mixpanel offers a Revenue Analytics tool that allows businesses to measure a customer's "lifetime value."

By Vanessa Richardson

Opinions expressed by Entrepreneur contributors are their own.

Page views are so five years ago. Same with unique visitor counts and app downloads. In fact, according to Suhail Doshi, CEO of Mixpanel, those are nothing but "bullshit metrics." Instead, Mixpanel tracks and measures the action of individual users across a site and/or app and quickly determines how much each one is worth as a customer.

Mixpanel offers small businesses an easy way to install a customized analytics program on their site, pulling information from a variety of calls to action and spitting out granular information on who searched where and what they did. With the company's new People Analytics product, a client can segment customer data, such as gender, age and location, and compare behaviors of different groups. This allows a company to respond with special offers to, say, customers in Chicago or those who buy the most expensive products. (The People service is free to try, up to the first 1,000 customer profiles generated.)

But it's the Revenue Analytics tool that really sets Mixpanel apart from other software. It allows businesses to measure a customer's "lifetime value," or the total amount they will spend throughout their relationship with the company. The tool can also tell users how valuable their PR efforts are by showing the lifetime value of a group of customers based on how they were acquired, such as through a link, banner ad or social media article. Armed with these figures, companies can make smarter decisions about how they execute their marketing programs.

The rest of this article is locked.

Join Entrepreneur+ today for access.

Subscribe Now

Already have an account? Sign In