The normal eCommerce website owner uses various methods to assess their online store’s performance and determine what can be done to improve it. An eCommerce website uses a variety of methods to assess the performance of their online store and determine what can be done to make it better. This might entail looking through user surveys, client comments on social media, and frequently asked questions, but these can only provide so much information. Real user data, which needs to be collected by specialized software, is the most valuable data.
The metrics and statistics says that this kind of software collection gives the owner of an eCommerce website access to reliable and useful information. Because of its connections to the Google search engine and Google Adwords, Google Analytics has grown to become the most widely used analytics program since 2005. This, along with the fact that the vast majority of its users can use it for nothing, has given Google Analytics a commanding market share. For business eCommerce websites, there is a premium version that costs money.
A properly managed Google Analytics account has evolved into a crucial business tool for millions of e-commerce websites. It was first released in 2005, and since then, several updates have been made.
Online retailers must be aware of and adapt to these changes because Google Analytics tracking is a crucial part of any e-commerce website’s success and growth over time. We will discuss how GA4 is different from UA in this article, as well as the advantages of switching to GA4 right away for improved e-commerce event tracking.
What is Google Analytics?
In a nutshell, Google Analytics is a free website analytics service that enables website administrators or owners to view information about the traffic and activity on their websites.
Utilize Google Analytics to sort and screen website analytics data into a wide range of data dimensions and metrics, including:
- Which of your website’s pages do they visit?
- Your page’s dwell time.
- Whether they are using a desktop or mobile device, the browser they are using is
- What website were they on before visiting yours,
- Which of your forms did the user-submitted
- How many people are visiting your site right now?
Why is Google Analytics used for?
To view website analytics over time, use Google Analytics, which helps Jobs To Be Done to know your customer. When used to its fullest extent, Google Analytics can assist you in tracking the ROI (return on investment) of your website for all of your online marketing initiatives. This is accomplished by providing you with detailed information regarding the various methods by which users find your website and their behaviour once they arrive there.
You can identify patterns in user behaviour, gauge the effectiveness of your pages and posts, and base your decisions on how users interact with your website using the data collected by Google Analytics. With the aid of Google Analytics, you can stop speculating about visitor behaviour. Actually, the raw, original data is visible.
One of the most crucial metrics available for an e-commerce website is revenue. Data processing enables you to see the average dollar value of each transaction, the search engines from which your revenue is coming, and other information.
After processing your analytics data, it is altered to fit your unique settings and configuration. For instance, you might have decided to remove your office’s IP address from the data so that how your business uses the website won’t have an impact on your data. This data is processed and then sent to the Google database to be stored. This data cannot be changed after processing. This is why it’s crucial to set up multiple views of your website in Analytics, leaving one with an unfiltered view of the data so that you always have the most accurate raw data. In case you ever need to go back and look at something that your configuration may have prevented from being tracked.
The Google Core Reporting API can be used by a third-party interface to retrieve this data. For the majority of users, Google’s interface is capable and understandable enough, but some of the enormous eCommerce sites may decide to pick third-party software because it can be more precisely tailored to their unique requirements. In fact, some of these businesses use a third-party service rather than Google Analytics at all to gather the data.
The owner of an eCommerce website can gain invaluable metrics and information from Google Analytics about how users are interacting with their website. The webmaster can then decide how to best improve their eCommerce website with informed choices.
How GA4 impacts e-commerce websites
1. Codeless event tracking
Along with setting up events in Tag Manager, code was necessary to set up custom event tracking. With the update, it is now possible to do away with these procedures and begin tracking on-site and in-app actions completely code-free.
2. Follow users across multiple channels and devices
Due to Universal Analytics’ unfortunate inability to track users across channels and devices, many site views were double-tracked. This issue is fixed in Google Analytics 4 by introducing a more reliable and precise event-tracking system.
Now that Google Analytics can identify the same user viewing a website on both a desktop and a mobile device, businesses will have a better understanding of the customer journey.
We’ve never had this capability before, and we’re eager to use it to get more precise data from this update.
3. Increase access of insight
Businesses will have access to much more detailed, insightful analytics data thanks to new features like machine learning, various attribution models, and access to unsampled data. Anomalies (possible patterns in user behaviour) that GA4 can reveal have proven useful in guiding our client campaigns.
When you combine that with GA4’s consistently expanding reporting capabilities, you can now make unique reports that are tailored to your company’s needs and objectives rather than being constrained by a “one-size-fits-all” approach.
4. Add parameters to the E-commerce store
You can start gathering data about user interactions with your store using the pre-built events that Google Analytics offers. Instead of developing your own custom events, use the e-commerce events since they automatically populate dimensions, metrics and Google performs calculations to give you more insightful data for giving a fast pace to JTBD.
Promotions are a way to draw attention to one section of your website or app from a different section of it. For instance, promotions might consist of banners and pop-up boxes that alert customers to important updates and discounts for your company.
Partial refunds occur when a customer returns only some of the items they bought from your store, whereas full refunds occur when a customer returns all the items they bought from your store.
You can use the refund event in Google Analytics to track both full and partial refunds. Include the original transaction ID in the refund event in order to measure a complete refund. The original transaction ID from the time the person made the purchase should be used as the transaction ID.
5. Predictive Reporting
You can forecast more accurately than ever thanks to GA4’s machine-learning algorithms and cutting-edge AI technology, which enable you to quickly and accurately determine revenue predictions, conversion probabilities, and average churn rate from data collected.
You can export your custom audiences using this feature to Google Ads or the Google Marketing Platform. Targeting high-value users and users who are about to leave is possible.
6. Spam prevention
If you have used Google Analytics for a while, you may be familiar with pam referrals. You might have noticed an unexpected spike in traffic or a lot of visits from an unknown source.
Spammy traffic can sabotage your marketing campaigns and make it challenging to gather reliable data. Google Analytics 4 offers a remedy.
The Measurement Protocol could be used by spammers to send erroneous information to Google Analytics accounts. Only hits with a secret key are permitted to transmit information to GA4 properties. This key, which is accessible through the GA4 data stream settings, is private.
If you’ve read this far, you already know how useful Google Analytics is and how crucial it is to comprehend the information that influences the overall performance of your website.
Google Analytics 4 keeps track of all hit types, including page views and transactions. It encourages the integration of the website and app. It does away with outdated labels, categories, and action categorization. Instead, it makes use of models like those for automatically gathered events, personalized events, and suggested events. When the GA4 detects any user activity on the website, it automatically gathers the data. All of these tools help you create the best marketing plan possible, increasing your company’s sales and revenue.
As a result, Google Analytics 4 represents a development in the global adoption of intelligent and data-driven marketing strategies. Implementing Google Analytics 4 in your company will help you upgrade your marketing strategy for your B2B e-commerce store.