This year, Google Analytics 4 (GA4) has emerged as a game-changer, offering advanced features tailored to the evolving needs of online businesses. Its new functionality not only opens up the data analysis world, making it easy for appropriate stakeholders to have access to the information they need but also uses machine learning to provide additional insights, allowing eCommerce businesses to further enhance their data-driven decision-making.
So let’s take a look at the 6 key benefits of using this platform for your eCommerce business;
GA4 shifts from a session-based model to an event-based one, providing a more comprehensive understanding of user interactions. This is particularly valuable for eCommerce, where user journeys are often complex and multifaceted. With a focus on events, GA4 enables businesses to track specific user actions, such as product views, add-to carts, and purchases, offering a detailed view of customer engagement.
For example, if an eCommerce site identifies a spike in abandoned carts, GA4 can be used to identify the exact events leading to abandonment, pinpointing friction points. This information can then be used to optimise the checkout process to reduce drop-offs and ultimately increase incoming revenue.
By understanding user interactions at a granular level, such as above, businesses can tailor their strategies to enhance the customer experience, fostering loyalty and repeat purchases.
In an era of interconnected devices, customer journeys now incorporate multiple platforms and devices when making a purchase online. In fact, it was found that 40% of online transactions involve multiple devices throughout the purchase funnel.
This is where GA4's capability to track user journeys across platforms and devices is a godsend for eCommerce businesses seeking to provide a seamless experience. Whilst it was possible to track these multidimensional journeys using Universal Analytics, it required some pretty advanced coding skills. However, GA4’s built-in capabilities now allow businesses to track users seamlessly, just by the user being logged into their individual Google account. Allowing businesses to not only get a more holistic view of customer behaviour and tailor the experience dependent on a device but also being able to carry out more accurate attribution modelling for their marketing campaigns.
One of the biggest benefits of GA4 is its use of machine learning to provide predictive metrics that enable businesses to be proactive in responding to market shifts. Before now, eCommerce businesses would have to rely on specialist data analysts to look at the historical data, create tailored algorithms and use these to predict further forecasting. Due to the complexity of this, predictive analysis would tend to be focused on the overarching metrics such as ‘future profit’.
Thanks to GA4’s machine learning and AI-driven metrics, businesses can look at this on a much granular perspective and not only make predictions on the ‘outcomes’ but also the journey of users getting there. As a result, businesses can align their strategies with customer preferences, ensuring they offer the right products at the right time.
Every eCommerce business is unique, and so are its goals. GA4 recognises this diversity by offering enhanced customisation in creating reports and analysing specific datasets. Whilst a number of standard reports are available within the GA4 Dashboard, the newly introduced ‘Explore’ function literally allows businesses to create whatever report is valuable to them.
This flexibility allows businesses to tailor analytics to their distinct needs meaning that regardless of your department, you can use custom-created dimensions, segments, events and more to pull together the information which is critical to the decision-making you are responsible for.
By customising analytics to align with business goals and customer segments, eCommerce businesses can refine their strategies to better meet customer expectations and preferences.
For eCommerce businesses, the ability to analyse vast datasets in real-time is transformative. GA4 seamlessly integrates with Google BigQuery, providing a robust platform for swift and comprehensive analysis of customer behaviour in real-time.
Real-time analytics enable businesses to respond promptly to customer needs, ensuring a dynamic and customer-centric approach to eCommerce operations.
This means, for example, an eCommerce business, using GA4 and BigQuery, can swiftly identify trends in customer behaviour during a flash sale and make instant adjustments to marketing strategies to capitalise on the momentum.
Google Analytics 4 is not just an analytics tool; it's a strategic asset for eCommerce businesses seeking to thrive in a competitive landscape. From understanding user behaviour at a granular level to leveraging AI-driven insights, GA4 empowers businesses to make data-driven decisions that enhance the customer experience and drive sustainable growth. By adopting GA4, eCommerce businesses in the UK can stay at the forefront of digital innovation, ensuring they are well-positioned to meet the evolving needs of their customers.