In March 2024, Google Analytics 4 abruptly introduced key event rate as a new website metric. The new definition of one of the most popular marketing metrics of all times, conversion rate shocked and confused marketers, analysts and business owners. If you are one of them, read on and learn how you can use GA4 key event rates to your advantage…
Before reading on, make sure you understand the difference between conversions and key events in GA4.
GA4 key event rate in a nutshell
- Key event rate metrics in Google Analytics 4 are in fact conversion rates but only for traffic that is not generated by Google Ads.
- GA4 distinguishes two types: the student data user key event rate and session key event rate.
- Key event rates are calculated automatically, provided you have set up key event tracking.
- You can use key event rates in reports and explorations to do a high-level or detailed analysis of your site and campaigns outside Google Ads.
What is the difference between key event rate and conversion rate in Google Analytics 4?
Key event rate and conversion rate in Google Analytics 4 are basically the same, but the term conversion rate is exclusively used for users and sessions that come from clicks on Google Ads.
The schedule below sums it up.
Note that you won’t see conversion rates in GA4 if
- you are not running paid Google ads
- you haven’t linked your Google Understanding GA4 Key Ads account to Google Analytics 4
Now, let’s take a step back to make sure we are on the same page.
What is a key event rate in Google Analytics, anyway?
The key event rate in Google Analytics 4 is a metric that tells you the percentage of
- users that did not arrive on your site after clicking a Google ad and triggering a key event on your site
- sessions that weren’t driven by 3 steps to find the best niche for your blog or online business (don’t listen to what others say) Google ads and during which a key event took place.
To illustrate this, let’s assume you marked the Google Analytics scroll event as a key event in your GA4 property.
- A 1% user key event rate for this particular event would mean that 1 out of 100 users (aka visitors) scroll down 90% of your website pages.
How is the key event rate calculated in GA4?
Google Analytics 4 calculates the key event rate automatically with a simple formula that looks like this:
The X in the key event rate formula can be two things:
- Users, aka visitors of your site
- Sessions, aka visits to your site
Before I get to the difference between user and session key event rates, let me explain where you can find the key event rates for your complete site or web shop.
How can I find key event rates in Google Analytics 4 for my complete site?
To do a quick high-level analysis of the key even rates of your site, follow these steps.
Step 3: Compare the key event rate changes over time
Increased rates are in green and have an arrow pointing upwards.
Decreased rates are marked in red and the arrow then points downwards.
If you change the period, you can quickly compare key event rates for a week, month, quarter or a year.