Google has added two new metrics for measuring user conversions to the Google Analytics platform. The new metrics known as the “Session Key Event Rate” and “User Key Event Rate” will automatically appear in the Traffic Acquisition reports and the default User Acquisition.
Understanding the new updates:
Session Key Event Rate- This metric basically measures the session percentage in the key event conversion, which is calculated by dividing the number of key events by the total number of sessions.
User Key Event Rate- This metric calculates the users performing a predefined key event action percentage like completing or purchasing a sign-up process.
With this, there will be no need for manual configuration and the metrics will automatically populate in the Traffic Acquisition reports and User Acquisition.
Users who have integrated the Traffic Acquisition and User Acquisition reports in their report navigation will see the new metrics in their dashboard, automatically.
This will enable businesses to make a much-informed decision on their marketing strategies and also have a fine view of conversion rates and user engagement.
📢 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
The new metrics will allow businesses to identify the pain points and iterate on improving user flows, with which businesses will be able to optimize their acquisition strategies and spending by viewing what channels and campaigns drive higher session and user conversion rates. This will make measuring and tracking conversions easier which is very critical for evaluating the marketing performance and also setting targets and measuring the progress over time.