Measuring return on investment (ROI) is vital to demonstrating that marketing campaigns have value and are working. There are several ways to calculate ROI, but the easiest way to do it in Google Analytics 4 (GA4) is to set up conversions and add a value to them. What is a conversion value? It is a monetary value that is assigned to the completion of an event in GA4 that allows you to quantify the monetary impact of each conversion and estimate its ROI.
Previously, conversions were measured by Kuwait Phone Number Data setting eCommerce transactions and goals, but with GA4, all conversions are measured by events.
What should you do to track ROI using conversion values?
Set up conversion tracking . To track a sale or lead, you need to create a custom event and transform it into a conversion. You can do this in GA4 by creating a new event based on an existing option or by setting up a new tag in Google Tag Manager .
Submission of cost data . Adding cost data allows you to analyze the behavior of your online ad campaign alongside your conversion data to better understand return on investment (ROI) and return on ad spend (ROAS). It is necessary to configure the data import in GA4 to pull data from other advertising platforms.
Adding values to conversions . Have you already created a conversion using a GA4 predefined event? Change the setting to include a value. If you’re tracking conversions for a service-based website, apply an estimate to your conversion events.
What are the potential pitfalls in tracking ROI with GA4 reporting
Although Google Analytics 4 is a powerful tool for measuring. The performance of your marketing initiatives, there are some challenges in tracking ROI. The average “lead to close” time for B2B companies is 102 days, while in GA4, the Bold Data maximum attribution window for acquisition conversion events is 30 days. Also, it currently does not track offline transactions and the conversion values are not dynamic.
