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 Hi Anamic,
With a community of over 1.8 billion monthly people, Facebook is no stranger to growth. Along the way, the teams at Facebook have learned a lot about how to use analytics to drive product growth. Here are a few tips from the Facebook Analytics team:
- Really get to know your audience - Understanding the people who interact with your business is key. Building marketing messaging that resonates, and delivering a great customer experience is what brings them back. Don't just learn if they're men or women, or where they're from - get to know their occupations, interests, and more.
- Build funnels for everything - Your growth depends on driving people to complete a desired goal, like making a purchase. Make sure you're looking at the key actions leading up to that goal, and build funnels to measure people's progress through these actions. You can also use funnels to measure and optimize registration flows, on-boarding flows, and more.
- Keep a close eye on retention - Finding and converting new customers is important, but it's only half of the equation. Make sure you're measuring how well you're keeping people around so you aren't spending unnecessary time and resources acquiring new people to replace the ones you've lost. You can also use cohorts to get even more granular by looking at how the behavior of specific groups of people is changing over time.
Ready to get started with powerful analytics? Visit analytics.facebook.com.
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