Product Performance Analysis

In ultra-competitive markets, gaining insights into your products’ performance, and the way users interact with it, can you give a competitive edge and help you to ensure long-term success.

Through the power of data, and applying various analytical techniques, you can drill down into various touchpoints, and gain a range of insights, that ultimately indicate the success of your product.

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Harness the full potential of your data

With Ipsos Jarmany’s Product Analysis Services

As experts in data and analytics, we understand the significance of having a robust product performance analysis strategy so you can gain a true understanding of the driving factors behind your sales performance, and where optmisations need to be made. Our team collaborates closely with you to establish what KPIs are important to you, and how to leverage your data, to uncover meaningful insights that drive impact in the now.

What is Product Performance Analysis, and why is it important?

Analysing product performance involves utilising data, and applying advanced analytical techniques, to evaluate how products are performing so you can then extract meaningful insights which enhance sales. Product managers can leverage these insights to inform their decision-making, allowing them to optimise product performance and improve the user experience.

Product performance analysis is key for the ongoing measurement of your products’ performance over time, however it can also be a key asset for assessing product launches and campaign performance, such a Black Friday or Christmas campaigns. It also facilitates data-driven decision-making, which can improve campaign effectiveness, and can help you to expand the number of engaged customers.

By implementing a robust product performance analysis strategy, you can answer questions like:

  • Which customer segments does your product most appeal to?
  • How well is the product performing in terms of sales and revenue?
  • Which customers are abandoning their customer journeys and at which stages?
  • What do customers think about the product?
  • Which products tend to be purchased at the same time, and are therefore good cross-sell or up-sell opportunities?
  • How does the product compare to competitor’s products, in terms of sales performance?
  • What is the market share of the product?
And much more.

How  Ipsos Jarmany’s Product Performance Analysis Services can support you

We have experience supporting some of the largest organisations in the world with analysing the performance of their products. With our consultancy services, you can benefit from:

Deeper Knowledge of Customer Interaction

Understanding how your customers use digital products is critical to enhancing the UX. Product performance analysis can identify those key touchpoints.

Reduced User Churn

If your customers are happy with your product, they'll stick around. Product performance analysis will provide you with the insights you need to ensure your products satisfy user needs.

Better Understanding of Your ICP

Using customer data, you can gain powerful insights into the type of people who are using your product so you can identify common characteristics and create an ideal customer profile.

Enhanced Understanding of User Engagement

Understand not only which features your customers are using, but also the factors driving that usage, so you can gain valuable insights that help you fine-tune your product and product usage.

Heightened Competitive Advantage

With product performance analysis, alongside gaining insights into your own performance, you can glean insights into your competitors' performance, using techniques like web scraping.

Product Performance Analysis Techniques you need to know

Product performance analysis isn’t a singular process. It requires a comprehensive approach that combines various techniques to obtain a thorough and holistic understanding of your products’ performance. There are multiple techniques you can use to gain the insights you need to guide your decision-making, and marketing and sales strategies, be it online or offline, direct or indirect. 

The approach you choose will depend on your specific product and the business goals that are underpinning your efforts. Here are some of the techniques which may form part of your product performance analysis plan:

  • Funnel analysis
  • Trend analysis
  • Customer journey analysis
  • Cohort analysis
  • Retention analysis
  • Predictive analytics
  • Customer feedback analysis
  • CRM analysis & optimisation
  • Heatmapping
  • Webscraping

Additional Resources

Track your eCommerce and product performance, including sales activity, purchase behaviour and channel performance, so you can more easily identify opportunities for growth.

Almost every firm has looked to invest in data initiatives. But you need to do more than that if you want to make the most of your data and the insights it can provide on product performance.

Product performance analysis allows you to glean deeper insights into the performance of your products and the driving factors contributing to this, enabling you to make more-informed strategic decisions to drive sales and business growth.

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Product Performance Analysis