Businesses of all shapes and sizes all across the globe depend on digital analytics tools to power their digital marketing efforts and better understand their customers. However, one major struggle faced by tools like Google Analytics was the constant uphill battle to keep up with constant shifts in consumer behaviors and trends. This, in turn, made it more difficult for businesses and digital marketers alike to get their hands on the valuable data they need to keep their businesses relevant and growing.
Built on the foundation laid by the Web + App property introduced in 2019, Google Analytics 4 is here to address such struggles by delivering helpful insights that offer a comprehensive understanding of users across different devices and platforms. But what exactly does it mean for your business? Let’s find out.
Predictive Insights and Metrics
Developed with machine learning at its core, Google Analytics 4 is designed to deliver deeper insights and more advanced metrics to help you better understand how users interact across different devices and platforms. Moreover, Google’s advanced machine learning models are able to predict and alert you to any significant or developing trends in your data. For instance, Google Analytics 4 can alert you to rising trends in consumer demands for particular products, thus helping you better anticipate any future actions your customers might take. This allows you to better prepare for future demands and redirect your marketing budget accordingly.
Better Audience Insights
Rather than focusing on device or platform-centric insights, Google Analytics 4 focuses on customer-centric data. Using different identity spaces and unique signals, the new Analytics offers you a complete view of how customers interact with your business throughout the entire consumer lifecycle. These customer-centric insights are essential to keep up with rapidly changing consumer needs and enable you to make the real-time decisions you need to make to gain and retain new customers. What’s more, Google Analytics can also provide churn rate, revenue, and average lifetime revenue predictions for custom audience segments. The predictions can then be used to gain a better understanding of why these audiences churn more, spend more, and where they’re spending less, allowing you to better allocate your budget and target lower-churn, higher-revenue audience segments.
Deeper Integration with Google Ads
Deeper integration with Google ads makes it easier for you to leverage analytics data to improve your marketing ROI. You’ll now be able to create custom audiences across different apps and platforms to serve your customers with relevant, helpful experiences regardless of where they choose to engage with you. Additionally, deeper integration means that you’ll be able to deliver ads based on actions taken on YouTube and even track conversions originating from the platform. This makes it easier to optimize ad campaigns around specific actions and better manage when and how you collect and use data.
Like we mentioned earlier, the new Analytics offers customer-centric measurement rather than fragmenting measurements over different devices and platforms. By using data centralized around a user ID, you gain a better view of your customer’s interactions. For instance, you’ll be able to track users who discover your business via an ad served to them on YouTube mobile, then later make a purchase using their desktop computer. This one feature alone will allow you to focus your ad spend on interactions that drive the most revenue, thus maximizing your long-term marketing ROI.
Analytics in a Cookie-less Future
In this privacy-centric world, you need privacy-centric analytics tools, and that’s exactly what Google Analytics 4 offers. The new Google Analytics is designed for a future both with and without cookies and uses machine learning to fill gaps where data normally collected by cookies is missing. This means that you’ll always be prepared for what’s to come and won’t ever have to compromise due to industry changes and increasing restrictions on cookies and identifiers.
Contact the Three Marketers today to learn more about how the new Google Analytics 4 can help take your digital marketing strategy to the next level and help grow your business online.