Beyond product analytics: How Mixpanel uses Mixpanel for all business data
Since launching over a decade ago, Mixpanel has been a great solution for analyzing digital product usage. The best, we’d argue. But for analysis in other domains, our customers have often been forced to turn to disparate tools, resulting in a siloed, split-brain analytics experience.
As Mixpanel users ourselves, we can vouch.
With the launch of Warehouse Connectors, a native way to sync Mixpanel with Snowflake, BigQuery, and Redshift that’s now available to all of our customers, we’re making it easy to unleash Mixpanel’s analysis power on all kinds of data—marketing data, revenue data, support data, etc. It’s a no-code way to get Mixpanel’s self-serve analysis across the company.
In the past, tracking new data in Mixpanel required asking an engineer to configure a tracking snippet. With Warehouse Connectors, you simply need somebody with access permissions to your data warehouse, such as a data analyst, to enter authentication credentials, initialize the instance, and map existing tables into Mixpanel events; and that can all be done within our friendly UI. It can take less than 30 minutes to start analyzing your rich, existing sources of data.
To help you see what’s possible with Mixpanel with Warehouse Connectors, we’ll walk you through the internal use cases we’ve been enjoying.
Analyzing revenue data in Mixpanel
Earlier this year, we shared our vision for event analytics to unlock fast insights for company revenue data. Now that we can easily bring revenue data into Mixpanel, our analytics team maintains a dataset called P8 that is designed to answer any product and revenue growth questions.
Since we are a B2B company, our P8 setup is structured to support analysis at multiple levels, such as users, domains, or Salesforce accounts. With our sales and billing data in P8, we have Boards set up for baseline monitoring of key business metrics. For example, anyone can quickly see average deal size across geographies, trends in “Contact Us” form completions, or new customer revenue.
These table-stakes revenue metrics are useful for quick access, but we’re most excited about how we can connect product data to business impact. For example, Sharon Chen, Senior Data Scientist at Mixpanel, maintains an “Activation Exploration” Board that digs into how different product actions correspond to the conversion rate for our signup-to-paid customer funnel. With the first step as signup and the final step as making a payment, we can get answers to questions like: “What’s the conversion rate for people who save a report?” and “What about people who create a short URL and share it?” These answers help determine which product actions have the biggest impact on the conversion rate to paid so that the product team can optimize for those actions.
With revenue data easily accessible, there’s less guessing about whether we’re actually moving the needle.
If you’re still curious about our setup, you can explore a copy of our public P8 Board (populated with demo data) right here.
Customer account metrics
Go-to-market teams can also take advantage of the new wealth of data in Mixpanel.
Our sales and customer success teams use Mixpanel to monitor account health and ensure that we are driving value for both individual users and the larger business units that they represent. We stream account data about the organizations that use us—monthly recurring revenue, renewal date, plan type, etc.—so that our customer-facing teams can help themselves to key metrics.
For example, Ryan Seams, Senior Director of Customer Success at Mixpanel, maintains an “Account Health Metrics” Board for a bird’s eye view of his team’s performance. It displays key information like the percentage of accounts that are healthy, health percentages by region, or health percentages by customer success manager. Returning to this Board routinely allows Ryan to keep an eye on the overall team and potentially spot churn risks or expansion opportunities for sales.
Rich marketing analytics
As you might expect, our marketing team has been making the most of Mixpanel’s Marketing Analytics features. With the sunsetting of Google’s Universal Analytics, we’ve fully migrated marketing analytics into Mixpanel, operating on a rich, shared dataset that includes source-of-truth revenue and product data in addition to typical marketing data.
Allie Kelly, Growth Marketing Manager at Mixpanel, is seeking to increase impact in a select segment, spanning from initial brand awareness campaigns all the way to product adoption and beyond. Now, all within Mixpanel, she can get a holistic view of the entire user journey in one place. That means tracking important marketing KPIs like acquisition channel performance, engagement with blog content, or webinar registrations and monitoring sales opportunities in this segment—all in the same Board. It’s easier to keep her eyes on the prize of impacting the bottom line, which in this case is revenue in a specific segment.
Making migration a breeze
Warehouse Connectors is now available for everyone to use, and it only takes minutes to set up Mixpanel to dish out insights for the use cases above and more.
To make it even easier for new customers to get immediate results with Warehouse Connectors, for a limited time, we’re offering data migration of historic events from Snowflake, BigQuery, or Redshift at no additional cost. You can get more details about this offer here.