With the sudden shift to eCommerce, Google realizes that consumer behavior changes. Their current analytics approach should keep pace. There’s a need for smarter insights for better ROI. Also, a more customer-centric measurement can help businesses with their future decisions. As such, Google introduces new Google Analytics.
The new Google Analytics highlights the use of machine learning. It now gives automatic alerts for:
- Conversion data from different channels like Google search, email, social media, and YouTube
- Churn probability of customers
- Potential revenue from a target group
- Rising demands for products
Businesses can now create an audience for a Google ad. The new customer-centric analytics makes it easier for them to focus segments based on trends and web interactions.
The new Google Analytics presents a complete insight into a customer’s journey – from acquisition to conversion, and then to retention.
Google introduces new Google Analytics on 14 October 2020.
Implications for Marketers:
The new Google Analytics uses smarter machine learning. These can help marketers improve ROI and retain customers. The conversion of data from different channels helps marketers discover which campaign platform works best for them. Determining the churn probability of customers helps find ways to avoid them. Predicting potential revenues gives more confidence in a campaign. And knowing in-demand products helps them anticipate future product development. The key is to deeply analyze these data and experiment on what you think is best.
Reference: https://blog.google/products/marketingplatform/analytics/new_google_analytics/
