Google Analytics 4 (GA4) is a major update to Google’s analytics platform that was released in October 2020. This update represents the biggest change to Google Analytics in over a decade. It’s important for small businesses to understand what it means for them. A smaller-scale business can still be heavily reliant on the digital space, but yet not have access to digital marketing/analytics expertise in-house. This makes it quite important that you are sufficiently educated on the coming shift.
In this post, we’ll cover a few things small businesses need to be aware of and prepare for in 2023, particularly for small online businesses. The current Universal Analytics module will cease to collect hits later this year, so we are now truly in the final months until we all fully embrace GA4.
GA4 has been designed to help businesses better understand their customers’ journey across devices and platforms, including web, mobile apps, and even offline interactions. It also includes machine learning capabilities that can help businesses automatically surface insights and identify trends they might otherwise miss.
For small businesses, this means that they can get a more complete picture of their customers’ behavior, and use that information to make smarter decisions about their marketing and website optimization strategies. This can ultimately help them save money on advertising and drive more revenue from their existing customers.
If you’re currently using Google Analytics, you’ll eventually need to transition to GA4. Google has said that it will continue to support the previous version of Google Analytics (Universal Analytics) for only a few more months.
One thing you can do to prepare is to start setting up GA4 alongside your existing Google Analytics property. This will allow you to start collecting data in GA4 and get familiar with the new interface and reporting options. You can also use this time to start exploring some of the new features that GA4 offers, such as the ability to track user engagement with videos and scroll depth.
One of the biggest changes in GA4 is the way that data is organized and reported. Instead of the traditional “sessions” and “pageviews” metrics, GA4 uses a new set of metrics called “events” and “parameters”. Events are actions that users take on your website, such as clicking a button or submitting a form, while parameters provide additional information about those actions, such as the button’s text or the form’s submission status.
Some key areas to focus on in GA4 include:
User engagement: This includes metrics like scroll depth, video engagement, and user actions like clicks and form submissions.
Acquisition channels: GA4 includes a new way of tracking user acquisition that focuses on “engagement” rather than traditional referral sources. This can help you better understand where your most engaged users are coming from. If you investigate further, you can find out what search terms or referral channels your users are finding your business through (valuable for SEO optimization).
Customer lifetime value: GA4 includes a new report that can help you understand the lifetime value of your customers, including their purchase history and their likelihood to make future purchases. This is particularly important if the conversion takes place on the website (e.g. a purchase or a booking).
To get the most out of GA4, it’s important to spend some time exploring the new features and capabilities it offers. Some tips to help you get started include:
Set up conversion tracking: GA4 makes it easier than ever to set up conversion tracking for your website. Make sure to set up conversion goals that align with your business objectives.
Use machine learning to your advantage: GA4 includes machine learning capabilities that can help you automatically identify trends and opportunities in your data. Make sure to explore the insights and recommendations that GA4 surfaces for you.
Customize your reports: GA4 includes a new report builder that allows you to create custom reports and dashboards tailored to your specific needs. Spend some time exploring this feature.
In conclusion, Google Analytics 4 is a major update that small businesses should be aware of and prepared for in 2023. It offers new capabilities and insights that can help businesses better understand their customers’ behavior across platforms and devices, and make smarter decisions about their marketing and website optimization strategies. By starting to prepare for the transition to GA4, focusing on key metrics, and taking advantage of its new features, small businesses can get ahead of the game and stay competitive in a rapidly changing digital landscape. With its machine learning capabilities, GA4 can help businesses identify trends and opportunities in their data that they might otherwise miss, ultimately leading to better business outcomes. So, whether you’re a small online business or a larger enterprise, it’s time to start exploring what GA4 can do for you.
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