What is Product Growth? 💡
Contents
Before diving into the differences between Segwise and analytical tools such as Mixpanel, Amplitude, et al, we need to address the million-dollar question:
”How do you drive Product Growth?”
Brian Balfour from Reforge puts this across very well - “Product growth is all about finding arbitrages”, and the way to find arbitrages is by:
Understanding what factors make your metrics move up or down, and
Finding segments of users either outperforming or underperforming on your KPIs
With this in mind, all things product growth can be defined with a simple framework:
What happened:
Which metric moved on your dashboard?
Why it happened:
You try to figure out why the metric moved.
What do you do next:
Is there an opportunity for growth?
However, steps 2 and 3 can only be achieved on product analytics tools after spending hours on them. Sometimes you just cannot do it as the data needed is not entirely in the tool and sometimes because you could not guess your way to the right cut of the data that reveals the right reason!
Differentiator between Mixpanel/Amplitude and Segwise 🔥
Segwise.ai is not an analytics platform but an observability platform for product growth teams. Here’s how it looks in comparison with the likes of Mixpanel and Amplitude
What happened:
Product analytics tools can only report on metrics you are passing to them. Segwise can report on metrics from many data sources (like your performance marketing tool, your product communication tools, A/B testing tools, Data Lakehouses, etc)
Why did it happen:
Product Analytics tools expect you to do hours of work to get to the "Why" and sometimes don’t have the full context. Segwise has context from all your data sources and automatically tells you why a metric moved without anyone doing any work!
What to do next:
Since Segwise looks at your data every day, it also automatically spots growth opportunities in specific user segments and alerts you on broken funnels. This way, you’ll never run out of growth ideas!
Segwise in action! 🤯
Segwise could potentially highlight an opportunity like…
“Activation for the last 7 days of users installing the app from the Meta campaign called Awesome_Video_Ads and who are part of the Coin_Reward_for_Video_Ads notification campaign is +20% more .”
To produce this insight, Segwise had to monitor all the campaigns that you are running from your performance marketing tool, the notification campaigns you are running on your product communication tool, and the metric itself from your product analytics tool! 🤯
All of this was calculated for you without spending a minute! ✨
P.S: In case you're wondering - what the difference between observability and product analytics:
An observability platform like Segwise.ai integrates with all your product growth data tools and lakehouses in just a few minutes, without taking engineering bandwidth. By doing so Segwise.ai can proactively explain why your metrics are changing, find user segments that see great value in your product, and address any issues in user journeys.
All of this is automated for you daily, to save your product growth teams from spending hours on dashboards and writing SQL queries!
Summing it up 🎯
