Amplify 2022: The Power of Data-Driven Products

Amplitude CEO Spenser Skates shares highlights from Day 1 of Amplify, the #1 product and growth conference.

Inside Amplitude
May 25, 2022
Image of Spenser Skates
Spenser Skates
CEO and Co-founder
Amplify 2022: The Power of Data-Driven Products

Today kicks off Amplify 2022, live from Las Vegas and it is great to be back! There is nothing more powerful than making connections with the product community, and I’m inspired by the thousands of leaders who are joining us in person and online this week. Because whether you’re a startup or a global enterprise, a digitally-native company, or at the beginning of your digital transformation journey, we all have one thing in common. We’re trying to build great products.

But there’s one big challenge that is holding us back: most companies have no idea what their customers want. I call this the product gap, and the only way to close it is through data. When you have access to product data, you no longer have to make decisions based on precedent or assumptions. You can understand exactly what your customers want, and then build end-to-end experiences that anticipate and deliver every time. With data-driven products, there is no longer a gap between what people want and what products do.

In today’s challenging macro environment, the need for data-driven products has never been higher. That’s one of the reasons why I am so excited about the product announcements we made on stage at Amplify this morning. When cross-functional teams turn data into insights and insights into actions, their digital products can not only offer unmatched revenue growth efficiency, they can win the market.

Introducing Amplitude CDP: The First Insights-driven CDP

Today we announced the launch of Amplitude CDP, the industry’s first insights-driven CDP. This is important for two big reasons. First, aggregating data is pointless unless you have an easy way to understand it. With Amplitude’s number one products analytics solution directly built in, we’re making it easier for teams to improve data quality and improve customer engagement.

Second, Amplitude is already the number one destination for legacy CDPs, which means companies are paying twice. We call this the CDP tax. Amplitude is now offering the best free CDP plan on the market. It’s far better than what you’ll find anywhere else.

Already have a CDP you love? No problem. At Amplitude, we believe in BYOD—bring your own data. We support an open ecosystem and a tech stack that works for your business. To learn more about Amplitude CDP, check out our announcement here.

Experiment Results: Experimentation Analysis At Scale

Whether you’re deciding what to build, what to cut, or what to double down on, there’s nothing as powerful as running an experiment to drive that decision. That’s why we launched an end-to-end experimentation solution last year, and we’ve been thrilled with the results our customers have seen. One Fortune 100 customer significantly improved conversion over a 45-day period. Another customer decided to kill a new onboarding flow because it hurt conversion rates.

But we also discovered that many large enterprises aren’t ready to rip out their existing feature delivery system. And now, they don’t have to. Today we announced Experiment Results for teams that have an existing feature flagging system but want to add world-class, scalable experimentation analysis capabilities on top. Experiment Results removes the analysis bottleneck with self-service experimentation so that teams can run experiments quickly and efficiently. Companies can bring their own A/B data to Amplitude, and start analyzing experiments immediately

To learn more about Experiment Results, check out our announcement here.

Measure Full Funnel Performance with Amplitude Analytics

Of course, we’re always working to improve our core product, so we announced several new Amplitude Analytics capabilities that make it easier for companies to discover how their marketing programs and product decisions affect key business outcomes. While product teams will always be core to what we do at Amplitude, you may be surprised to learn that 15% of our power users are in a marketing role. Traditionally, there’s been a disconnect between product and campaign data, causing siloed product and marketing teams and incomplete insights. Today for the first time, Amplitude is bringing both marketing and product teams together in a single system to understand how their investments drive growth.

Our new Campaign Reporting feature provides teams with insights into which acquisition channels users are coming from and how marketing programs impact product KPIs. Outcome-based Metrics empower product and marketing teams to quickly create a standard set of metrics that make it easy to connect behavioral outcomes such as sales or revenue. And with new Data Tables, customers can measure multiple KPIs in a single view for more flexible reporting so marketing and product can have a side-by-side analysis of metrics across the entire customer journey.

Learn more about today’s Amplitude Analytics announcements here.

Expanded Partnership with Snowflake

And Amplify would not be complete without an announcement with one of our incredible partners—Snowflake. We know that the easier and faster it is to get high-quality data into Amplitude, the more powerful Amplitude becomes. With our new data-sharing integration, Snowflake customers can use Amplitude to unlock actionable insights into customer journeys without ever leaving their Snowflake instance. This gives organizations the power to flexibly collect, process, and get value from their product data so they can focus on what matters most: building amazing customer experiences.

Learn more about today’s Snowflake announcement here.

And we’re not done yet! Amplify 2022 continues tomorrow with exciting keynotes from our Amplitude product team, customer breakout sessions, and of course, our closing keynote from Emmy-award-winning comedian Hasan Minhaj. For those of you in attendance, I’d love to meet as many of you as possible, so if you see me please say hello! And if you were unable to join us in Vegas this year, follow along on our live stream and on Twitter — and we hope to see you all in-person next year.

About the Author
Spenser is the CEO and Co-founder of Amplitude. He experienced the need for a better product analytics solution firsthand while developing Sonalight, a text-to-voice app. Out of that need, Spenser created Amplitude so that everyone can learn from user behavior to build better products.