At the Google Analytics Summit 2012, Mountain View, the Analytics team members share a glimpse into the future of Analytics, and GACPs network and share ideas.
First up, Google announced Universal Analytics, which helps customers tailor Google Analytics to their needs, integrate their own datasets and ultimately get a more complete vision of the entire marketing funnel.
"The new tools offered by Universal Analytics via the new Measurement Protocol (an API that enables you to send your data to Google Analytics) can help you measure the how people actually become and remain loyal customers," Google stated.
Google notes, "Universal Analytics won't mean any changes in your Google Analytics account."
- Consumers use multiple devices. The tools from the Measurement Protocol allow to seamlessly send your own data about your customers and business (from any digital device that you are measuring) to your Analytics account. This can help you see how users interact with your brand from multiple touchpoints - phones, tablets, laptops or more - in one place.
- Universal Analytics now enables to measure marketing more holistically by integrating Mobile App Analytics data with Google Analytics account.
- Cross-channel measurement is essential. Universal Analytics, via the Measurement Protocol, lets you sync your own data from across various marketing channels, so you can discover relationships between the channels that drive conversions.
- Uniqueness of Business. With Universal Analytics, "you can integrate your own data and can customize the metrics that matter to you - beyond website visits. Google Analytics can deliver the custom metrics you want, in the same report you're used to, based on the customized data you provide," explains Google.
Here are more features announced at the summit:
Custom Dimensions / Metrics (a feature activated by Universal Analytics) enables you to easily add information like CRM data to Analytics account. "You can, for example, widen an advertising campaign by adding cost data to get a clear picture of the ROI on your marketing effectiveness," google explains.
"Note that custom dimensions and custom metrics are just like the default dimensions and metrics in your Analytics account, except you create and define them yourself. You can use them to collect and segment data such as demographic data, which isn't automatically collected," Google added.
Attribution Modeling Tool until now available to premium customers -- is now rolling out gradually to pobulic.
"Using Attribution Modeling Tool, customers can build models that give credit to all of their digital channels, providing insight into the impact of various marketing programs as they work together to drive sales and conversions."
Cost Data Import rolling out over the next month "lets Analytics users to import their cost data from any digital source -- such as paid search providers, display providers, affiliates, email, social and even organic traffic."
This allows you to measure performance of your Google and non-Google programs side-by-side.
Customer Lifetime Value (CLV) announced today, will be rolling out in 2013, "is a very powerful feature that shows the dollar amount of money that an individual customer will spend with a given business in the future."
CLV reports offer include:
- "Value segments or all of your customer base
- Decide how much to spend acquiring new customers in a given segment
- Decide how much to spend retaining certain customers (e.g. remarketing)
- Rank customers
- Measure success of marketing actions," google informed.
Recency, Frequency, and Monetary Value (RFM) are three powerful behavioral metrics that savvy marketers have been using for decades to identify exactly these customers. Google says, these forthcoming reports, will bring in the power of RFM to Google Analytics.
Google Analytics Premiumdebuted in Sep 2011, starting in 2013 will launch in 8 more countries: Japan, Brazil, France, Germany, Netherlands, Italy, Spain, and Norway. In addition to already existing in the United States, United Kingdom and Canada.
Finally, Google Analytics Mobile App Analytics is now out of closed beta and is entered into the open public beta available to all developers and marketers.