By:
Branch
Posted on:
October 29, 2020
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Marketing Digital
Google Analytics is a free platform, created by Google in 2005, that allows you to record, measure, visualize, analyze and understand the actions that users perform within your website.
Through data dashboards, graphs and reports, Google Analytics shows you how your website has performed over a given time, as well as the results of your digital marketing strategies.
On October 14, 2020, Google announced that it is working on new features and tools for Google Analytics through a statement written by Vidhya Srinivasan, Google's vice president of measurement, analytics and shopping platforms.
As more businesses and companies moved online due to the COVID-19 pandemic, the company needed to implement improvements to its product to optimize its customers' experience and help them increase their return on investment (ROI).
That's why, in this article, we'll explain what the new Google Analytics updates consist of and how they'll work from now on.
Greater number of predictive tools
It is well known that Google Analytics has been integrating more and more algorithms and machine learning models into its platform in order to track, process, organize and predict assertively, and in real time, millions of data.
This new version will incorporate advanced predictive analysis tools that automatically provide alerts on significant trends in data, products, actions and user behavior.
For example, the platform will be able to create alerts about products that may experience future increases in demand due to user needs.
You can also calculate the probability that a user will abandon a purchase page, helping you think of strategies to retain the person and achieve the desired conversion.
The Google team also plans to add new predictive metrics such as “the amount of potential revenue you could earn from a particular group of customers.”
The intention behind this is to facilitate the creation of custom audiences that, due to their behavior on the web, prove to be higher-value sales prospects; as well as key data to justify why some customers are likely to spend more than others.
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Read also: 5 advantages of using Google Analytics
Greater integration with Google Ads
Google Ads is Google's platform par excellence for running advertising campaigns on search engines and websites, such as YouTube.
Integrating Google Ads with Google Analytics is a highly recommended practice for tracking web traffic from ads, as well as conversion rates and costs that are critical to calculating marketing ROI.
In the new Google Analytics, this integration between both platforms is much deeper, as you can now create audiences for Google Ads based on Analytics data and thus reach customer segments that are more focused and interested in your brand.
Also, this new update allows you to simultaneously monitor conversions for campaigns running on multiple platforms.
This way, you can compare the performance of YouTube videos to that of campaigns on Google Search, Google Display, email, and social media, allowing you to understand the combined impact of all your marketing efforts.
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We recommend you read: Tips for creating an effective ad on Google Ads
Customer-centric measurement
Thanks to cookies, customization options and multiple web tracking tools, it is now possible to collect millions of user data on the Internet.
Big data and machine learning models then process, group and calculate predictions.
The new Analytics leverages all of these technologies to give you customer-centric measurement , rather than, for example, measurement segmented by the device used to access your website.
To achieve this, the platform uses multiple identity spaces, including user IDs taiwan contact number provided by marketers and unique Google signals from users who have opted into ads personalization, to give you a more complete view of how users across the Internet interact with your business.
This customer-centric view will impact the analytics tools located on the left panel of the platform. From now on, they will show you the number of users who are in the different stages of the buyer's journey: acquisition, interaction and retention.
This allows you to better understand your customers' purchasing cycle and make timely decisions in response to changes in their behavior.
In this regard, in the Google announcement, Vidhya Srinivasan pointed out that with this new update, “you can see which channels are generating 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.”
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New data tracking mechanisms
As we mentioned in the previous point, cookies and web data tracking tools are key to capturing information from users and customers.
However, with increased data regulation in place today, the opportunities users now have to control the data they want tracked by Google Analytics, and new regulations Google is implementing to make its ads more transparent by eliminating third-party cookies in Chrome, the new Analytics provides solutions to this situation.
In the statement announcing the Google Analytics updates, Vidhya Srinivasan stated that:
“Because the technology landscape continues to evolve, the new Analytics is designed to adapt to a future with or without cookies or identifiers. It uses a flexible approach to measurement and, in the future, will include models to fill in the gaps where data may be incomplete.”
In short, the new Google Analytics has incorporated new tools designed to place the customer at the center of the analysis, and to predict user behavior with greater precision.