As an eCommerce website owner, one of the keys to success is understanding your customer’s behavior. Luckily, Google Analytics 4 (GA4) is an indispensable tool that can help you measure your eCommerce website’s performance, track customer behavior, and optimize your marketing efforts. All current users of Google Analytics have been notified that data gathering will cease on July 1, 2023, and they must upgrade their eCommerce platform to Google Analytics 4. However, waiting until the last day could mean missing out on critical historical parallels.
Should I immediately stop using UA (GA3) and start using GA4? is the primary concern. It’s not, to put it briefly. You should install GA4 and use it with Universal Analytics to maximize your data. This guide is ideal for maximizing data collection and familiarity with GA4’s new UI. As a result, you’ll be ready to make the transition as soon as necessary.
To make the most of this updated tool, here are five essential metrics in GA4 that all eCommerce business owners should know. Plus, we’ll share tips on using these metrics will enhance your website and boost your business growth.
5 Must-Know Metrics
- Conversion Rate
- Average Order Value
- Traffic Sources
- Cart Abandonment Rate
For online business owners, nothing is more important than revenue. Y employing GA4, you can monitor sales for your entire website and sales for individual products, categories, and even referral sources.
Keeping an eye on sales allows you to gauge the efficacy of your advertising campaigns, pinpoint your most lucrative product lines, and allocate capital effectively.
Tracking your conversion rate in GA4, you can identify areas of your website that may be causing visitors to abandon their carts or leave without purchasing.
This information can help you optimize your website for better conversion rates, ultimately increasing your revenue.
Average Order Value
By monitoring the Average Order Value metric in GA4, you can identify ways to increase the average value of each transaction.
For example, you could offer free shipping for orders over a certain amount or bundle products together to encourage customers to purchase more.
GA4 allows you to track the source of your website traffic, including organic search, paid search, social media, and referrals.
By analyzing traffic sources, you can identify which channels drive the most traffic and revenue to your website.
You can allocate your marketing resources accordingly, focusing on the most influential media.
Cart Abandonment Rate
Tracking this metric in GA4, you can identify areas of your website that may be causing visitors to abandon their carts.
You can optimize your website to reduce cart abandonment, increasing your conversion rate and revenue.
These five metrics are essential for eCommerce business owners to track in GA4.
By monitoring revenue, conversion rate, average order value, traffic sources, and cart abandonment rate, you can gain valuable insights into your customers’ behavior and optimize your website to increase revenue and grow your business.