Benefits of Using Google Analytics 4 for Your Business
Google Analytics 4 is the latest iteration of Google’s free analytics app, and is set to replace Universal Analytics when it stops processing new hits on the 1st of July 2023. It is therefore essential for users to switch to Google Analytics 4 as soon as possible, ideally no later than July 2022, to ensure they have a year’s worth of data from both versions after the switch. Doing so will enable users to access the data they have previously processed by Universal Analytics for at least six months after the switch. By making the switch to Google Analytics 4 before 1 July, users will have the advantage of a year’s data to track their website’s performance and make more informed decisions.
Check out our Google Analytics 4 Google Looker Studio template
Custom Reporting in Google Analytics 4
Custom Reporting in Google Analytics 4 is an innovative feature that allows businesses to gain insights into areas of their website that were previously unavailable. Through Explorations, users can create custom reports by constructing a data set, adding additional metrics, and filtering the data according to their preferences. This provides businesses with the opportunity to better understand their site’s performance, as well as analyze and segment audiences and quickly perform ad hoc queries. All of this information can be used to inform marketing strategies, resulting in more effective and efficient decision making.
Event-based Analytics
Event-based Analytics is a new and improved analytics system that Google has adopted for Google Analytics 4. It is a more accurate method for tracking user behavior across sessions and devices, allowing businesses to gain a better understanding of how their customers interact with their sites over time. While session and cookie-based attribution models are still used by some analytics systems, Event-based Analytics offers a more comprehensive approach that can help to provide more detailed insights into user behavior. As a result, businesses can make more informed decisions about their marketing and product development, as well as gain a better understanding of their customer base. Google Analytics 4 is setting the standard for event-based analytics and is quickly becoming the go-to solution for companies looking to better understand customer behavior.
Monitoring ROI
With Google Analytics 4, businesses now have a powerful tool to measure the effectiveness of their marketing campaigns. By tracking the cost of acquiring a customer and the average revenue generated per user from each marketing channel, businesses can easily identify which channels are driving the most sales and profits. Armed with this information, they can then focus their marketing efforts on the channels that are proving to be the most effective, thus increasing their return on investment (ROI). Additionally, by analyzing the data, businesses can identify areas that require improvement and make the necessary adjustments to their marketing strategies. By continuously monitoring their ROI and making smart decisions, businesses can ensure that they achieve the best possible results from their marketing efforts.
If you’re looking for a data-driven approach to decision-making, Google Analytics 4 (GA4) could be just what your business needs. One of the standout features of GA4 is its ability to track and analyze customer behavior across both your website and apps. This gives you a complete picture of your customers’ journeys and helps you understand them better.
GA4 also uses machine learning to help you make sense of your data and get insights that are tailored to your business goals. Plus, with GA4, you can segment and target audiences and even share audiences with Google Ads.
When it comes to privacy and data management, GA4 is designed to help businesses stay compliant with the latest regulations. And, unlike Universal Analytics, GA4 allows you to track an unlimited number of conversions, making conversion tracking a breeze. Finally, GA4’s predictive metrics can help you make informed decisions about your business’s future, including predicting a user’s likelihood of purchasing in the next 7 days, churn rate, and revenue prediction for the next 28 days.
As July 1, 2023 approaches, Google has yet to announce how long processed data will be accessible after Universal Analytics is shut down. It’s no surprise that Google has amassed a tremendous amount of data in their properties and undoubtedly will not want to store it in perpetuity. Hopefully, we’ll gain clarity on the storage timeline in the upcoming months, which is why it’s crucial to migrate to GA4 before the deadline. A good practice for those wanting to preserve their UA database is to export historical data from UA to GA4.