- 1 What Is Google Analytics?
- 2 What is the New Google Analytics?
- 3 How much does google analytics cost?
- 4 Google Analytics Premium Prices
- 5 Universal Analytics V/s New Google Analytics
- 6 The new features of the Google Analytics 4 platform?
- 7 Benefits of those changes for businesses and marketers
What Is Google Analytics?
If you operate in marketing, there’s a great chance you’ve at least heard Google Analytics pointed out in numerous discussions. However, nowadays, the standard is that the majority of marketing specialists have at least messed around a bit on the platform.
However in case you’re not knowledgeable about it, we’ll set out the fundamentals for you: Google Analytics is a platform utilized to examine your site’s crucial metrics, such as the variety of users, page views, bounce rate, source of your visitors, session time, and what sort of gadget an individual utilized to access your website. These are simply a few of the numerous metrics that Google Analytics tracks.
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These insights assist you to recognize strengths and weak points within your site to assist you to enhance it for more traffic and conversions.
And the very best part about Google Analytics? It’s inexpensive!
The new Google Analytics anticipates a trend in Digital Transformation: the use of predictive analytics to inform strategic decisions.
Among them, increasing the predictability of demand, creating price policies compatible with the market, making products or services more appropriate to the consumer wishes of customers, or forecasting threats to the security of corporate data.
Those are all decisions we face every day that require reliable data to be successful. In the marketing industry, this predictability is even more critical.
Anyone who follows the evolution of good Digital Marketing practices knows the relevance of data to support more precise actions, both in the day-to-day of companies and in the creation and dissemination of advertising pieces and advertisements.
With that in mind, in this article, we cover the features that will be part of the new Google Analytics and how this tool can be decisive for your business to achieve better results.
- What is the new Google Analytics?
- How much does google analytics cost?
- Universal Analytics V/s New Google Analytics?
- The new features of the Google Analytics 4 platform?
- Benefits of these changes for businesses and marketers?
What is the New Google Analytics?
The new Google Analytics is based on the technologies and elements that support Digital Transformation. We are talking about Artificial Intelligence, deep learning, machine learning, neural networks, and data.
Businesses of all types and sizes rely on insider information from Google Analytics to understand their customer behavior and preferences.
The goal is always to provide more qualified experiences, combined with products and services tailored to the public’s expectations, at a competitive price capable of leaving the competition behind.
However, the changes in our digitized context are also extremely fast. The efforts of companies must be focused on two main points: the consumer (and all the places where they are) and the compliance of the sector.
Both requirements are optimized with data analysis. According to a survey by Forrester Consulting, marketers have data science as one of their priorities for years to come.
To help companies in this regard, the new Google Analytics was launched: the new platform promises to provide the necessary knowledge to adapt the business to the future.
How much does google analytics cost?
Google Analytics has lots of functions that you can utilize totally free, however, there are a couple of advanced functions that you’ll require to spend for if you desire access to them.
Nevertheless, for big businesses with huge spending plans and a requirement for advanced functions, Google Analytics 360 may make a great deal of sense. For everybody else, well, it most likely makes good sense to stick to the complimentary variation. Nonetheless, let’s break down the functions of each tier.
Google Analytics Premium Prices
The premium tier, which is called Google Analytics 360, costs $150,000 each year.
This “freemium” design for SaaS business is rather typical– while the complimentary tier is restricted compared to the paid tier, it’s still effective. And you can constantly update to get to those greater end functions.
Yes, you check out that right. There are lots of absolute nos.
However, what stunned us about the Google Analytics tier system is the enormous cost dive from the complimentary tier to the premium.
Universal Analytics V/s New Google Analytics
The new Google Analytics provides a user-centric view, that is, the analyzes are carried out based on the behavior of your business audience.
They are no longer produced in a fragmented way, depending on the segmentation by device or platform that consumers use to access your company’s channels and get in touch with your brand.
In this way, it is possible to better personalize the campaigns in Ads – according to the stage of the customers in their consumption journey -, and in an omnichannel way, since it combines cross-platform traffic analysis.
A very significant feature was launched to adapt the tool to that omnichannel need: the possibility of obtaining a more detailed view of accesses and conversions made from YouTube, a long-standing demand from Analytics users.
It happened, even due to Google’s adaptation to the requirements imposed by the countries where the company operates and with a strong request for the privacy of user data.
Recently, the company found itself at the center of a judicial process initiated by the United States Public Prosecutor’s Office, accusing it of truste, a practice that aims to create a monopoly in specific segments.
In the case of Google, it consists of maintaining privileged information about the behavior of Internet users.
With adaptation based on machine learning, the new Google Analytics will be able to model to fill the spaces left by users who use cookie blockers. Also, to abolish once and for all that practice that can punish the giant with the mandatory sale of Chrome.
The integration of the platform will also be greater since it will be possible to follow the marketing efforts in social networks and email marketing strategies .
The new features of the Google Analytics 4 platform?
See what will be the effective changes in the new Google Analytics and how they can be used to benefit your business.
New insights and forecasts with Artificial Intelligence
Machine learning-based insights already integrate Analytics functionality. However, with Google Analytics 4, it will be possible to create alerts on the trends observed in the data .
For example, increasing demand for a product or reducing turnover rates, so that action is taken immediately after those observations.
Greater integration with Google Ads
Google wouldn’t make such major changes to its platform if it didn’t aim to achieve two goals: improve the experience of its customers (the companies that use the tool) and improve its results with ads. Therefore, the integration with the Google Ads tool is even deeper.
Marketers can create and maintain a specific audience in their applications.
Thus, if a user qualifies to compose that list, they automatically receive the same content as the others, as well as the transfer to a more advanced stage, if they buy the company’s product or service, for example.
Thus, the content offered and the advertisements will be extremely specific to the stage of the journey in which the lead is.
Reports based on customer lifecycle
One of the most notable differences between the new Analytics 4 and Universal Analytics is the way the reports are created . That information is organized to help businesses and marketers establish specific strategies for each phase of the customer journey .
In this way, the new platform allows a more complete vision of how the company obtains, converts and keeps its customers, and how they relate to the brand in different channels and devices.
Codeless event tracking
The event tracking feature increases the ability to see customer actions at the desired location and application – and in real time . In the new Analytics platform, the user does not need to add code or configure tagged event tracking.
Previously, event tracking required additional information, such as latency, and the data was typically not available simultaneously.
Compliance for data control
Google Analytics 4 also includes options to help companies comply with data regulations, such as the General Data Protection Regulation (GDPR) of the European Union.
It was this legislation that has influenced the laws of several Latin American countries, which aims to regulate the access, treatment, and storage of personal data of third parties.
With this compliance, companies can obtain the consent of users when accessing the site. Thus, the collection of analytical data complies with the law and can occur without incurring fines and legal problems for the agents involved in the process.
The data exclusion functions have also been improved: the Data Protection Law has given users in some of the Latin American countries the right to remove personal information from company databases.
In this way, they allow companies to respond to deletion requests, but without having to remove more data than is necessary or requested by their customers.
As third-party cookies are removed, so businesses also don’t have to go through legal procedures, machine learning can replace this ability to predict behavior based on historical information left in other ways on the web.
Benefits of those changes for businesses and marketers
Marketers and businesses that effectively analyze their customer data using Google Analytics can benefit from the new tool in many ways.
First, because they carry out a fundamental job to gain prominence in an increasingly competitive and digitized market: data analysis for decision-making.
Second, because they will be able to gain a deeper understanding of the entire life cycle of their customers , from the moment they are just visitors to the corporate website or blog until they become leads, prospects and loyal consumers.
In other words, the tool will be able to map the customer’s steps from acquisition to retention.
Those who work with Digital Marketing know how fundamental this is to contemplate better results throughout the stage of the consumer journey.
With more intuitive insights, based on customer behavior and interest at all brand touchpoints, companies will have the opportunity to drive sales.
Marketing teams will be able to significantly increase the ROI of implemented strategies.
Now that you know the new Google Analytics and the importance of tracking your company data, what do you think about increasing the visibility of your website through more efficient SEO strategies?