10 Aug Google Introduces Predictive Capabilities to Google Analytics
Will Google Predictive Metrics Help Your Conversion Rates?
Have you used Google search and saw ads were kind of eerie because you wondered how they could know you might need them?
Are you aware Google adjusts the search results you see based on your past search history?
Some of that useful capability is due to AI and something often called predictive analytics or predictive intelligence. It’s a feature of new AI based software that can help you foresee what customers want before they realize they want it.
Improving Google Analytics
Google is beginning to add this functionality in Google analytics, although the service is a long way from competing with similar AI predictive solutions.
Predictive analytics has arrived because AI data processing can comb through massive amounts of visitor behavior, content use, and sales data for amazing insights. It’s still a young service, however we should know as much as we can given the competitive benefit we’ll receive.
Predictive Metrics for Realtors
Consider its use for Realtors on their real estate websites. If you can discover what content, headlines, and messaging makes a lead contact you, and use that to keep feeding that lead pipeline to ensure all potential prospects actually do contact you, your lead pipeline is going to grow.
If a Realtor’s lead pipeline is doubled or tripled, you can imagine how much in commissions that translates to.
I’m very surprised at Realtor’s disinterest in the web now and the information power that’s available. These solutions are what create market leaders and the million dollar payoffs they enjoy.
By the way, there are a few real estate lead generation companies offering services related to AI including a “soon to market detection” algorithm. Filter your own lead list for potential future seller leads. Read more on AI for real estate.
Predictive Metrics by Google
Google, this week, announced a new feature in its Google analytics service called predictive metrics. The feature may help users understand what criteria on their websites or in their mobile apps might be changed to raise sales conversions. It isn’t fully evolved, but it does indicate Google may deliver more of these proprietary corporate assets to its users in future.
You may be required to use them within the Google Marketing Platform, or other marketing products that sit on top of the Google analytics platform. These other AI software solutions may offer prescriptive metrics which help advise on predictive insights and guide better conversion rates. I know, this is pretty heady stuff that only conversion experts and data scientists truly understand.
The point is that the software and expertise to deploy it exists and you can hire whoever is needed to get the results you want. The results are everything.
Growing Interest in Predictive Solutions
There is big interest in predictive metrics, tools, and software showing that knowing more about your visitors or customers path to conversion is one of the most powerful insights you can possess. And of course, who has more user data than Google? Perhaps Facebook.
Predictive metrics has the added value of helping you avoid measuring the wrong things. You want to know what really drives most of your top prospects and customers, not what interested poorly qualified window shoppers.
With predictive metrics too, it is also the process that leads a visitor to a sale, the series of touchpoints, not just the content material they consume.
With Google’s experience in AI, the new tool might be helpful for a lot of users. I doubt this feature will surpass the value you might receive from other higher priced predictive metrics solutions available.
Purchase Probability and Churn Probability
The 2 metrics Google evaluates in the new feature is: Purchase Probability and Churn Probability. This translates to the visitor’s likelihood to become a customer or the likelihood of losing that prospective sale or customer. They’re covering the conversion issue from two extreme vantage points — how to win them or lose them.
Whatever drives the sale for that specific individual customer prospect is discovered and used. This seems much preferable than using a bunch of pop ups to keep your exiting visitors.
It remains to be seen whether such simple metrics can determine whether you successfully create a sale. I’ll be first to say that the way AI marketing software or AI content software can recognize behavior patterns and get ahead of the prospect to pave their path to conversion is promising. It’s likely better to leave it to AI marketing software companies who specialize in this stuff.
I think predictive analytics solutions are the key benefit delivered through Artificial intelligence. Seeing the future behavior and paths each unique visitor takes is something no one could do before. Visualizing it through some general funnel visualization report just confuses. Each visitor is unique and the solution is a relevant, personalized and unique experience for each person.
Of course, Google is welding this solution with Google Ads, so you can adjust your Google Ads advertising and inbound customer flow for best results. Considering how much you’re paying for those visitors via Google Ads, you’d better get your money’s worth.
Google Knows Everything
The key issues, is how much Google knows about these visitors to your site. Google learns about user behavior through browser usage and pageview histories in their Google accounts. All that granular data to comb through for minute clues to future behavior. And you don’t need AI for that, just machine learning.
Of course, this week Google, Facebook and Amazon are under huge pressure from the courts regarding anti-trust and unfair monopolization practices. If convicted, they could lose access to the very data their referencing with their new AI product. Most experts feel there will be just be some fines and that will be the end of it. All done for show.
Alternative Predictive Metrics Solutions
The advantage of other online predictive AI tools is that they observe the onsite activity only. They know what see happening on your site, not before they arrive. Yet the onsite behavior is a very reliable guide as to what visitors are attracted to, respond to, engage with, and ultimately are affected by to complete a purchase.
So Google’s proprietary data is a huge advantage and they could build out a complete AI funnel analytics solution. Google can sample a lot of data points to discover purchase intent so it’s wise to understand their solution.
“Predictive audiences automatically determine which customer actions on your app or site might lead to a purchase—helping you find more people who are likely to convert at scale” from Google Predictive report.
Stock Market Forecasts
Yes, they are using AI predictive algorithms in stock prediction software and stock price forecasting. The final word isn’t in regarding its effectiveness as yet, but you may want to check out some of the AI stock prediction tools available. Get to know companies such as Finbrain.tech as they’re pioneering in predictive solutions for investors.
Obviously, AI guided forecasting offers a potential bonanza when it’s perfected.
Are you building and capturing the best qualified prospects for your business. What is your rank in market presence and lead generation? Are you ready to adopt new AI technology to comb through your big traffic and focus on your most likely leads?
You’re wise to contact me to start building your lead generation machine on a foundation of excellent, relevant, highly shared and link building content. Combined with excellent SEO and a supporting advertising campaign, you’re suddenly visible everywhere. Visibility is the first step to leads and sales before you perfect your lead generation pipeline using predictive analytics.
Let’s get started: 416 998 6246.
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