An increase in global online usage has been seen in the first part of 2020. This paves the way for major changes on different websites and social media platforms. As such, Google Analytics adds new predictive metrics. The updates aim to help businesses better connect to their website visitors and increase conversion.
New Predictive Metrics
Google Analytics is a free tool in the Google Marketing Platform that helps businesses analyze data. It’s used by advertisers to measure ROI. The updates include:
- Predictive Audiences – a purchase probability metric that can help create audiences who will most likely buy on a website within the next 7 days. It also has a churn probability where you can see the audience who will not likely visit the website within the next 7 days. These data are now available in the Audience Builder.
- Analysis Module – a data analysis metrics for marketing campaigns. One highlight of this update is the User Lifetime Technique which identifies the campaign that has the highest purchase probability.
The process uses Google’s advanced prediction capacity. So, Google Analytics requires the following for an account to have them available:
- At least 1,000 users with positive and negative purchase examples;
- Such a user requirement should be sustained for a certain time.
These predictive measures generate once per day to qualified users. Google Analytics adds the new predictive measures effective 10 July 2020.
Implications for Marketers:
The new predictive metrics in Google Analytics can help marketers identify quality target audiences and effective marketing campaigns. These are advanced data points they can use on their marketing plan. There’s no doubt, Google is still the world’s number one search engine. As such, marketing using Google Analytics creates a strong impact, especially on eCommerce.