With more and more consumers shopping and accessing information online, collecting and analyzing consumer data has become the most integral component of every business’ marketing and operations. Google Analytics, a widely used free analytics tool, lets businesses garner website data and derive insights from the data. To help businesses better understand their customer data, Google has released a new Google Analytics called the Google Analytics 4 which uses machine learning and automation to give essential insights to Google Analytics users. The new features include:
By utilizing Google’s advanced machine learning models, the new Google Analytics can automatically alert you to notify significant trends in your data. For example, the new analytics will send you notifications when certain products are seeing increasing demand due to newly developed customer needs. The new analytics can even help you anticipate future actions your customers may take. For example, it calculates churn probability so you can invest in retaining customers more efficiently.
Google Analytics has enabled deeper integration with Google’s marketing products such as Google Ads, making it easy for you to use and improve the ROI of your marketing. For example, you can integrate Google Analytics with Google Ads and you create audiences that can reach your customers with more relevant, helpful experiences, wherever they choose to engage with your business. You can see insights such as conversions from YouTube engaged views that occur in-app and on the web in reports. Seeing conversions from YouTube video views alongside conversions from Google and non-Google paid channels, and organic channels like Google Search, social, and email, helps you understand the combined impact of all your marketing efforts.
The new Analytics gives you customer-centric measurement, instead of measurement fragmented by device or by platform. It uses multiple identity spaces, including marketer-provided User IDs and unique Google signals from users opted into ads personalization, to give you a more comprehensive view of how your customers interact with your business. For example, you can see if customers first discover your business from an ad on the web, then later install your app and make purchases there.
You’ll also get a better understanding of your customers across their entire lifecycle, from acquisition to conversion and retention. These are important insights when people’s needs are rapidly changing and you have to make real-time decisions to gain or retain customers. 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.
This is the perfect time to invest in your data analytics so you can be ready for what comes next. Staying on top of your data in your Google Analytics account also helps you respond to rising consumer expectations, regulatory developments, and changing technology standards for user privacy. With a new approach to data controls, you can better manage how you collect, retain and use your Analytics data!
If you have any questions about Google Analytics or want consultation on deriving data in your Google Analytics account, please feel free to get in touch!
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