Two new metrics, the User Key Event Rate and Session Key Event Rate, have been integrated into GA4 reports, offering better insights into user behavior and session effectiveness. This is something I had to calculate in the Looker Studio manually for years.
First, let’s define them:
User Key Event Rate - This metric measures user engagement by tracking the percentage of users who perform a key event, like making a purchase or signing up. It's calculated by dividing the number of users who complete the event by the total number of users, offering a clear view of how effectively your site prompts user action.
Session Key Event Rate - Complementing the User Key Event Rate, this metric measures the success of sessions that result in a key event, directly indicating session-to-conversion efficacy. It calculates the ratio of successful key event sessions to the total sessions.
I guess it's a good time to clarify the distinction between users and sessions:
In Google Analytics, a "User" is counted as each unique visitor to your site. This means that if the same person visits your site multiple times from the same device or browser, they are still counted as one user. Google Analytics labels these individuals as "Returning Users." However, if the same person deletes their browser cookies or switches devices or browsers and then visits your site again, they are counted as a "New User."
"Sessions" refer to the total number of visits to your site, encompassing both new and repeat visits. For example, if a person visits your site 100 times on the same device, they are counted as one user but generate 100 sessions. Each session can include multiple pageviews but is still counted as a single session.
A session resets after 30 minutes of inactivity or at midnight. So, if a person leaves your site and returns after 30 minutes, it starts a new session. Similarly, if someone visits your site just before midnight and continues browsing past midnight, it counts as two sessions.
Key event-based conversion rates are super helpful for fine-tuning your marketing and making sure you’re connecting well with your audience. They will make it easier to see how well your marketing tactics are working and help you pinpoint which marketing channels and campaigns are bringing in the best results.
