Can I find product conversion rate in Google Analytics?

If you've ever delved into your website's analytics, you've probably noticed that tracking conversions isn't as straightforward as it sounds. With the shift to Google Analytics 4 (GA4), things have changed—some might say for the better. Understanding these changes can make a huge difference in how you interpret your user data and optimize your strategies.

In this post, we'll dive into how GA4 approaches conversion rates, how you can track them for any page, and how to use these insights to improve your product's performance. Plus, we'll show you how integrating these analytics with experimentation platforms like Statsig can take your optimization efforts to the next level. Let's get started!

Understanding conversion rates in Google Analytics 4

If you've been using Google Analytics for a while, you might have noticed that in GA4, the concept of conversion rate has been revamped. It's now all about the key event rate. This shift emphasizes the critical user actions that truly drive business success.

So, what's the deal with these key event rates? GA4 introduces two types: the session key event rate and the user key event rate. The session key event rate measures the percentage of sessions that include at least one key event. Basically, it tells you how often your sessions result in important user actions. Meanwhile, the user key event rate looks at the percentage of users who complete a key event at least once, regardless of how many sessions they've had.

By focusing on key events, GA4 changes how we track and analyze conversions. Customizing standard reports and making use of custom explorations can give you a clearer picture of how different traffic sources and marketing efforts contribute to these key events. This approach helps you spot which channels are killing it and which ones might need a little TLC.

For those in e-commerce, understanding the conversion rate in GA4 becomes even more essential. Think of it as applying the session key event rate specifically to purchase events. By filtering your reports to spotlight purchase events, you can see how effective your e-commerce strategies are and tweak them for better results.

Tracking conversion rates for any page in GA4

Ever wondered how to track conversion rates for specific pages on your site, not just the landing pages? Good news—GA4 lets you customize reports to include key event rates for any page you like. This means you can see how well your non-landing pages are pulling their weight in driving conversions. By digging into how these intermediate pages contribute, you can spot top-performing content and fine-tune your user journeys.

To get started, check out GA4's Explorations feature. It's a nifty tool that lets you analyze conversions from non-landing pages in all sorts of ways. With Explorations, you can:

• Filter sessions based on specific page views

• Calculate key event rates for individual pages

• Compare how different pages stack up in conversion performance

Using Explorations, you'll gain valuable insights into how users move through your site and which pages are the real MVPs when it comes to driving conversions. This info is gold for optimizing your content strategy and making your user experience even better.

When you're analyzing conversion rates for those non-landing pages, keep an eye on factors like:

• Where the page sits in the user journey

• The type of content it has (is it a blog post, a product page, etc.)

• The call-to-action (CTA) elements on the page

Understanding how these elements impact conversion rates lets you make data-driven decisions to boost your site's performance. For instance, if you find that a particular blog post is turning readers into customers at a high rate, you might decide to promote it more or create similar content down the line.

Improving product conversion rates using analytics insights

Benchmarking your product's free-to-paid conversion rates is super important. For freemium self-serve products, a conversion rate of 3%-5% is considered good; 6%-8% is great. If your freemium product involves some sales assistance, shooting for 5%-7% (good) or even 10%-15% (great) is the way to go.

But how do you get there? Optimizing your pricing and packaging can make a big difference. It's also crucial to understand the nuances between freemium and trial products. Fun fact: Free trial products often have higher conversion rates because users are already in the mindset to purchase.

This is where leveraging user behavior data from Google Analytics 4 (GA4) comes into play. GA4's focus on key event rates allows you to zero in on critical user actions that drive success. By analyzing session and user key event rates, you can spot which marketing channels are performing well and which ones might need some love.

To dive deeper, GA4 lets you customize standard reports to include these key event rates, giving you a clearer view of how different traffic sources contribute to conversions. Plus, with custom explorations, you can filter data based on specific events—like purchases—to understand how various mediums influence your key event rates.

But wait, there's more! Integrating your Google Analytics data with Statsig takes your experimentation capabilities to the next level. By combining GA's rich user behavior data with Statsig's powerful platform, you get a comprehensive view of your users and their interactions. This integration enables advanced experimentation and helps you make data-driven decisions to optimize conversion rates. So, by harnessing these analytics insights, you can effectively improve your product's conversion rates and drive serious business growth.

Enhancing conversion tracking with Statsig experimentation

So, we've mentioned how integrating GA4 data with Statsig can supercharge your experimentation efforts. Let's dive a bit deeper into how Statsig can help you enhance your conversion tracking and overall product performance.

Getting started is pretty straightforward. First, you'll want to define meaningful metrics and assignment sources in Statsig using your GA data. This involves creating SQL queries to pull the relevant data from your BigQuery tables connected via Statsig's Warehouse Native.

Once you've got your metrics and assignment sources set up, you can run experiments aimed at optimizing user engagement and boosting conversions. Statsig's dashboard gives you real-time monitoring of your experiment's performance, so you can keep an eye on key metrics like conversion rates and make decisions based on solid data.

By leveraging Statsig's experimentation capabilities alongside your GA data, you can:

• Test out hypotheses and gain valuable insights into how users interact with your product

• Spot opportunities for product optimization and come up with innovative solutions

• Drive growth by improving those all-important free-to-paid conversion rates and other critical metrics

At the end of the day, Statsig's advanced features, combined with the rich data from Google Analytics, empower you to make confident decisions and deliver top-notch user experiences. With this integrated approach, you'll be able to answer questions like "Can I find product conversion rate in Google Analytics" and take your conversion tracking to the next level.

Closing thoughts

Tracking and improving conversion rates is a vital part of growing any online business or product. With GA4's focus on key event rates and the ability to track conversions across any page, you've got powerful tools at your fingertips. And when you combine that with Statsig's advanced experimentation capabilities, you can take your optimization efforts to new heights.

Whether you're just starting out or looking to refine your strategies, leveraging analytics insights is the way to go. Don't hesitate to dive deeper into these tools and see how they can benefit your specific needs. For more information, check out the links we've included throughout this post.

Hope you find this helpful! Happy analyzing!