Google has updated its popular Google Analytics platform with two new metrics for measuring user conversions.
The new “User Key Event Rate” and “Session Key Event Rate” metrics will appear automatically in the default User Acquisition and Traffic Acquisition reports.
📢 We've updated the default User acquisition and Traffic acquisition reports to include the User Key event rate and Session key event rate metrics. If you've included the reports in your report navigation, you will see these key event rate metrics in the reports automatically.…
— Google Analytics (@googleanalytics) June 14, 2024
Understanding The Metrics
User Key Event Rate
As detailed in Google’s documentation, the “User Key Event Rate” metric calculates the percentage of users performing a predefined key event action, such as purchasing or completing a sign-up process.
This metric is calculated by dividing the number of users who took the desired action by the total number of users.
Session Key Event Rate
The “Session Key Event Rate” metric measures the percentage of sessions that resulted in a key event conversion. It’s calculated by dividing the number of key events by the total number of sessions.
Automatically Calculated
These metrics are automatically populated in the User Acquisition and Traffic Acquisition reports, so there is no need for manual configuration.
Availability
Existing Google Analytics users who have integrated the User Acquisition and Traffic Acquisition reports into their report navigation will automatically see the new metrics reflected in their dashboards.
Why SEJ Cares
With a more granular view of user engagement and conversion rates, businesses can make more informed decisions about their marketing strategies.
How This Can Help You
Adding these user conversion metrics in Google Analytics reports can benefit businesses in several ways:
- Better Conversion Tracking: Dedicated metrics for user and session conversion rates make tracking and measuring conversions easier, which is critical for evaluating marketing performance.
- Optimize Acquisition Channels: Businesses can optimize their acquisition spending and strategies by gaining visibility into which channels and campaigns drive higher user and session conversion rates.
- Improve User Experiences – Poor conversion rates may indicate issues with user experiences. These metrics allow businesses to identify pain points and iterate on improving user flows.
- Measure Against Goals—Clear conversion metrics enable businesses to set targets and measure progress over time.
Featured Image: 3rdtimeluckystudio/Shutterstock
