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The Future of Website Analytics by Google Analytics

Millions and millions of businesses, regardless of their size & industry, use Google Analytics to get insights as to what’s happening on their website. They use it to know about the traffic sources, customer behavior, time spent on site, bounce rate, etc.

In this competitive world, insights from analytical tools such as Google Analytics are crucial for every business. With more and more companies exploring online opportunities, using analytical tools becomes vital. For most of the marketers, keeping up with the latest Google Analytics trends and improving their use of analytics is a top priority.

To aid businesses to achieve better ROI and long-term results, the team brings a more advanced and intelligent version of Google Analytics. It is advance in terms of automatically surfacing insights that paint a complete picture for better understanding customer behaviour across various devices.

In the new and updated version of Google Analytics, you will find four new features which are designed to improve ROI and the marketing decisions a marketer makes.

  • Smarter insights
  • Deeper integration with Google Ads
  • Customer-centric Data measurement
  • Codeless event tracking
  • More granular data controls

Smart Insights:

In the new version, Google Analytics automatically alerts if there is any significant or noticeable change in data. It also enables you to anticipate a customer’s future action.

“For example, it calculates churn probability so you can more efficiently invest in retaining customers at a time when marketing budgets are under pressure.”

These insights can help marketers to be more proactive and reactive as per the customer’s action. The predictive analysis (which will be added in future) will help marketers in long-run. Based on it, marketers can create groups to reach high-value customers and understand why some customers ready to spend more than other customers are. And, accordingly, you can take action to improvise your marketing approach.

Deeper integration with Google Ads:

Creating a custom audience based on data received from Google Analytics is only possible by integrating Google Ads with it.

“With new integrations across Google’s marketing products, it’s easy to use what you learn to improve the ROI of your marketing. 

A deeper integration with Google Ads, for example, lets you create audiences that can reach your customers with more relevant, helpful experiences, wherever they choose to engage with your business.”

With this customer-centric data measurement approach, marketers will now have a more holistic view of customer interactions as it will measure interactions across the web and apps.

Customer-centric Data measurement:

The new Google Analytics provides a more holistic view & gives a complete understanding as to how a customer interacts with your business. In the earlier version, it used to provide measurements fragmented by devices or the platform, but the newer version offers customer-centric measures.

The customer-centric measurement uses multiple identity spaces that include - marketer-provided User IDs and unique Google signals from users opted into ads personalisation.

It empowers you with insights like- whether the customer saw a Google ad first and installed the app and later made a purchase.

With this customer-centric measurement, you can get a better understanding of a customer life-cycle from start to end, right from acquisition to conversion and retention. IT is critical for real-time decisions you make for the rapidly changing customer’s needs. The quick decision making helps you win and keep new customers.

“Based on your feedback, we simplified and re-organised reporting so you can intuitively find marketing insights based on the part of the customer journey you’re interested in.

For example, you can see what channels are driving new customers in the user acquisition report, then use the engagement and retention reports to understand the actions these customers take, and whether they stick around, after converting.”

Codeless event tracking

The codeless feature makes it easy for marketers to track, measure and analyse on-site and in-app actions (in real-time) that are crucial for the business. For example, page scroll or video play, without having to add code or set up event tracking in Google Tag Manager. 

In the earlier version, event tracking requires additional processing which includes moratorium, and the data is typically not available until the following day.

More granular data controls

Google Analytics offers a new and more granular data controls which analytics users can use o manage how data is collected and retained. These data controls enable you to specify how to use it for advertising.

Marketers can now flexibly choose when to us or when to limit data to optimise ads. With this approach, you can rely on Google Analytics to measure marketing results, meet customers’ needs

The Future of Google Analytics

The New Google Analytics is the default version now. This is just the beginning; new improvement will be added in future. Hence, marketers are suggested to create ‘Google Analytics 4’ property (previously called an App + Web property) alongside your existing properties.

To know more on how to create ‘Google Analytics 4’ property, click here.

 

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Tuesday, 26 January 2021