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• 10 Key Google Analytics Limitations You Should Be Aware Of

  9 mai 2022, par Erin

  Google Analytics (GA) is the biggest player in the web analytics space. But is it as “universal” as its brand name suggests ?
  

  Over the years users have pointed out a number of major Google Analytics limitations. Many of these are even more visible in Google Analytics 4. 

  Introduced in 2020, Google Analytics 4 (GA4) has been sceptically received. As the sunset date of 1st, July 2023 for the current version, Google Universal Analytics (UA), approaches, the dismay grows stronger.

  To the point where people are pleading with others to intervene : 

  

  Main limitations of Google Analytics

  Google Analytics 4 is advertised as a more privacy-centred, comprehensive and “intelligent” web analytics platform. 

  According to Google, the newest version touts : 

  • Machine learning at its core provides better segmentation and fast-track access to granular insights 
  • Privacy-by-design controls, addressing restrictions on cookies and new regulatory demands 
  • More complete understanding of customer journeys across channels and devices 

  Some of these claims hold true. Others crumble upon a deeper investigation. Newly advertised Google Analytics capabilities such as ‘custom events’, ‘predictive insights’ and ‘privacy consent mode’ only have marginal improvements. 

  Complex setup, poor UI and lack of support with migration also leave many other users frustrated with GA4. 

  

  Let’s unpack all the current (and legacy) limitations of Google Analytics you should account for. 

  1. No Historical Data Imports 

  Google rushed users to migrate from Universal Analytics to Google Analytics 4. But they overlooked one important precondition — backwards compatibility. 

  You have no way to import data from Google Universal Analytics to Google Analytics 4. 

  Historical records are essential for analysing growth trends and creating benchmarks for new marketing campaigns. Effectively, you are cut short from past insights — and forced to start strategising from scratch. 

  At present, Google offers two feeble solutions : 

  • Run data collection in parallel and have separate reporting for GA4 and UA until the latter is shut down. Then your UA records are gone. 
  • For Ecommerce data, manually duplicate events from UA at a new GA4 property while trying to figure out the new event names and parameters. 

  Google’s new data collection model is the reason for migration difficulties. 

  In Google Analytics 4, all analytics hits types — page hits, social hits, app/screen view, etc. — are recorded as events. Respectively, the “‘event’ parameter in GA4 is different from one in Google Universal Analytics as the company explains : 

  

  This change makes migration tedious — and Google offers little assistance with proper events and custom dimensions set up. 

  2. Data Collection Limits 

  If you’ve wrapped your head around new GA4 events, congrats ! You did a great job, but the hassle isn’t over. 

  You still need to pay attention to new Google Analytics limits on data collection for event parameters and user properties. 

  

  These apply to :

  • Automatically collected events
  • Enhanced measurement events
  • Recommended events 
  • Custom events 

  When it comes to custom events, GA4 also has a limit of 25 custom parameters per event. Even though it seems a lot, it may not be enough for bigger websites. 

  You can get higher limits by upgrading to Google Analytics 360, but the costs are steep. 

  3. Limited GDPR Compliance 

  Google Analytics has a complex history with European GDPR compliance. 

  A 2020 ruling by the Court of Justice of the European Union (CJEU) invalidated the Privacy Shield framework Google leaned upon. This framework allowed the company to regulate EU-US data transfers of sensitive user data. 

  But after this loophole was closed, Google faced a heavy series of privacy-related fines :

  • French data protection authority, CNIL, ruled that  “the transfers to the US of personal data collected through Google Analytics are illegal” — and proceeded to fine Google for a record-setting €150 million at the beginning of 2022. 
  • Austrian regulators also deemed Google in breach of GDPR requirements and also branded the analytics as illegal. 

  Other EU-member states might soon proceed with similar rulings. These, in turn, can directly affect Google Analytics users, whose businesses could face brand damage and regulatory fines for non-compliance. In fact, companies cannot select where the collected analytics data will be stored — on European servers or abroad — nor can they obtain this information from Google.

  Getting a web analytics platform that allows you to keep data on your own servers or select specific Cloud locations is a great alternative. 

  Google also has been lax with its cookie consent policy and doesn’t properly inform consumers about data collection, storage or subsequent usage. Google Analytics 4 addresses this issue to an extent. 

  By default, GA4 relies on first-party cookies, instead of third-party ones — which is a step forward. But the user privacy controls are hard to configure without losing most of the GA4 functionality. Implementing user consent mode to different types of data collection also requires a heavy setup. 

  4. Strong Reliance on Sampled Data 

  To compensate for ditching third-party cookies, GA4 more heavily leans on sampled data and machine learning to fill the gaps in reporting. 

  In GA4 sampling automatically applies when you :

  • Perform advanced analysis such as cohort analysis, exploration, segment overlap or funnel analysis with not enough data 
  • Have over 10,000,000 data rows and generate any type of non-default report 

  Google also notes that data sampling can occur at lower thresholds when you are trying to get granular insights. If there’s not enough data or because Google thinks it’s too complex to retrieve. 

  In their words :

  

  Data sampling adds “guesswork” to your reports, meaning you can’t be 100% sure of data accuracy. The divergence from actual data depends on the size and quality of sampled data. Again, this isn’t something you can control. 

  Unlike Google Analytics 4, Matomo applies no data sampling. Your reports are always accurate and fully representative of actual user behaviours. 

  5. No Proper Data Anonymization 

  Data anonymization allows you to collect basic analytics about users — visits, clicks, page views — but without personally identifiable information (or PII) such as geo-location, assigns tracking ID or other cookie-based data. 

  This reduced your ability to :

  • Remarket 
  • Identify repeating visitors
  • Do advanced conversion attribution 

  But you still get basic data from users who ignored or declined consent to data collection. 

  By default, Google Analytics 4 anonymizes all user IP addresses — an upgrade from UA. However, it still assigned a unique user ID to each user. These count as personal data under GDPR. 

  For comparison, Matomo provides more advanced privacy controls. You can anonymize :

  • Previously tracked raw data 
  • Visitor IP addresses
  • Geo-location information
  • User IDs 

  This can ensure compliance, especially if you operate in a sensitive industry — and delight privacy-mindful users ! 

  6. No Roll-Up Reporting

  Getting a bird’s-eye view of all your data is helpful when you need hotkey access to main sites — global traffic volume, user count or percentage of returning visitors.

  With Roll-Up Reporting, you can see global-performance metrics for multiple localised properties (.co.nz, .co.uk, .com, etc,) in one screen. Then zoom in on specific localised sites when you need to. 

  

  7. Report Processing Latency 

  The average data processing latency is 24-48 hours with Google Analytics. 

  Accounts with over 200,000 daily sessions get data refreshes only once a day. So you won’t be seeing the latest data on core metrics. This can be a bummer during one-day promo events like Black Friday or Cyber Monday when real-time information can prove to be game-changing ! 

  Matomo processes data with lower latency even for high-traffic websites. Currently, we have 6-24 hour latency for cloud deployments. On-premises web analytics can be refreshed even faster — within an hour or instantly, depending on the traffic volumes. 

  8. No Native Conversion Optimisation Features

  Google Analytics users have to use third-party tools to get deeper insights like how people are interacting with your webpage or call-to-action.

  You can use the free Google Optimize tool, but it comes with limits : 

  • No segmentation is available 
  • Only 10 simultaneous running experiments allowed 

  There isn’t a native integration between Google Optimize and Google Analytics 4. Instead, you have to manually link an Optimize Container to an analytics account. Also, you can’t select experiment dimensions in Google Analytics reports.

  What’s more, Google Optimize is a basic CRO tool, best suited for split testing (A/B testing) of copy, visuals, URLs and page layouts. If you want to get more advanced data, you need to pay for extra tools. 

  Matomo comes with a native set of built-in conversion optimization features : 

  • Heatmaps 
  • User session recording 
  • Sales funnel analysis 
  • A/B testing 
  • Form submission analytics 

  

  9. Deprecated Annotations

  Annotations come in handy when you need to provide extra context to other team members. For example, point out unusual traffic spikes or highlight a leak in the sales funnel. 

  This feature was available in Universal Analytics but is now gone in Google Analytics 4. But you can still quickly capture, comment and share knowledge with your team in Matomo. 

  You can add annotations to any graph that shows statistics over time including visitor reports, funnel analysis charts or running A/B tests. 

  10. No White Label Option 

  This might be a minor limitation of Google Analytics, but a tangible one for agency owners. 

  Offering an on-brand, embedded web analytics platform can elevate your customer experience. But white label analytics were never a thing with Google Analytics, unlike Matomo. 

  Wrap Up 

  Google set a high bar for web analytics. But Google Analytics inherent limitations around privacy, reporting and deployment options prompt more users to consider Google Analytics alternatives, like Matomo. 

  With Matomo, you can easily migrate your historical data records and store customer data locally or in a designated cloud location. We operate by a 100% unsampled data principle and provide an array of privacy controls for advanced compliance. 

  Start your 21-day free trial (no credit card required) to see how Matomo compares to Google Analytics ! 

  21 day free trial. No credit card required.

  Your email address
  

  Your website address
  

  Your Analytics subdomain will be .matomo.cloud (change)

  Choose your analytics subdomain
  

  .matomo.cloud

  I hereby accept the terms and conditions and the data processing agreeement (DPA).

  
  Your information will be used to create an account on our cloud service. For more information please consult our privacy policy.
  
  

  » Start improving your websites now

  

• A Guide to Bank Customer Segmentation

  18 juillet 2024, par Erin

  Banking customers are more diverse, complex, and demanding than ever. As a result, banks have to work harder to win their loyalty, with 75% saying they would switch to a bank that better fits their needs.

  The problem is banking customers’ demands are increasingly varied amid economic uncertainties, increased competition, and generational shifts.

  If banks want to retain their customers, they can’t treat them all the same. They need a bank customer segmentation strategy that allows them to reach specific customer groups and cater to their unique demands.

  What is customer segmentation ?

  Customer segmentation divides a customer base into distinct groups based on shared characteristics or behaviours.

  This allows companies to analyse the behaviours and needs of different customer groups. Banks can use these insights to target segments with relevant marketing throughout the customer cycle, e.g., new customers, inactive customers, loyal customers, etc.

  You combine data points from multiple segmentation categories to create a customer segment. The most common customer segmentation categories include :

  • Demographic segmentation
  • Website activity segmentation
  • Geographic segmentation
  • Purchase history segmentation
  • Product-based segmentation
  • Customer lifecycle segmentation
  • Technographic segmentation
  • Channel preference segmentation
  • Value-based segmentation

  

  By combining segmentation categories, you can create detailed customer segments. For example, high-value customers based in a particular market, using a specific product, and approaching the end of the lifecycle. This segment is ideal for customer retention campaigns, localised for their market and personalised to satisfy their needs.

  

  Matomo’s privacy-centric web analytics solution helps you capture data from the first visit. Unlike Google Analytics, Matomo doesn’t use data sampling (more on this later) or AI to fill in data gaps. You get 100% accurate data for reliable insights and customer segmentation.

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

  Start for free

  No credit card required

  Why is customer segmentation important for banks ?

  Customer segmentation allows you to address the needs of specific groups instead of treating all of your customers the same. This has never been more important amid a surge in bank switching, with three in four customers ready to switch to a provider that better suits their needs.

  Younger customers are the most likely to switch, with 19% of 18-24 year olds changing their primary bank in the past year (PDF).

  Customer expectations are changing, driven by economic uncertainties, declining trust in traditional banking, and the rise of fintech. Even as economic pressures lift, banks need to catch up with the demands of maturing millennials, Gen Z, and future generations of banking customers.

  Switching is the new normal, especially for tech-savvy customers encouraged by an expanding world of digital banking options.

  To retain customers, banks need to know them better and understand how their needs change over time. Customer retention provides the insights banks need to understand these needs at a granular level and the means to target specific customer groups with relevant messages.

  At its core, customer segmentation is essential to banks for two key reasons :

  • Customer retention : Holding on to customers for longer by satisfying their personal needs.
  • Customer lifetime value : Maximising ongoing customer revenue through retention, purchase frequency, cross-selling, and upselling.

  Here are some actionable bank customer segmentation strategies that can achieve these two objectives :

  Prevent switching with segment analysis

  Use customer segmentation to prevent them from switching to rivals by knowing what they want from you. Analyse customer needs and how they change throughout the lifecycle. Third-party data reveals general trends, but what do your customers want ?

  

  Use first-party customer data and segmentation to go beyond industry trends. Know exactly what your customers want from you and how to deliver targeted messages to each segment — e.g., first-time homebuyers vs. retirement planners.

  Keep customers active with segment targeting

  Target customer segments to keep customers engaged and motivated. Create ultra-relevant marketing messages and deliver them with precision to distinct customer segments. Nurture customer motivation by continuing to address their problems and aspirations.

  Improve the quality of services and products

  Knowing your customers’ needs in greater detail allows you to adapt your products and messages to cater to the most important segments. Customers switch banks because they feel their needs are better met elsewhere. Prevent this by implementing customer segmentation insights into product development and marketing.

  Personalise customer experiences by layering segments

  Layer segments to create ultra-specific target customer groups for personalised services and marketing campaigns. For example, top-spending customers are one of your most important segments, but there’s only so much you can do with this. However, you can divide this group into even narrower target audiences by layering multiple segments.

  For example, segmenting top-spending customers by product type can create more relevant messaging. You can also segment recent activity and pinpoint specific usage segments, such as those with a recent drop in transactions.

  Now, you have a three-layered segment of high-spending customers who use specific products less often and whom you can target with re-engagement campaigns.

  Maximise customer lifetime value

  Bringing all of this together, customer segmentation helps you maximise customer lifetime value in several ways :

  • Prevent switching
  • Enhance engagement and motivation
  • Re-engage customers
  • Cross-selling, upselling
  • Personalised customer loyalty incentives

  The longer you retain customers, the more you can learn about them, and the more effective your lifetime value campaigns will be.

  Balancing bank customer segmentation with privacy and marketing regulations

  Of course, customer segmentation uses a lot of data, which raises important legal and ethical questions. First, you need to comply with data and privacy regulations, such as GDPR and CCPA. Second, you also have to consider the privacy expectations of your customers, who are increasingly aware of privacy issues and rising security threats targeting financial service providers.

  If you aim to retain and maximise customer value, respecting their privacy and protecting their data are non-negotiables.

  Regulators are clamping down on finance

  Regulatory scrutiny towards the finance industry is intensifying, largely driven by the rise of fintech and the growing threat of cyber attacks. Not only was 2023 a record-breaking year for finance security breaches but several compromises of major US providers “exposed shortcomings in the current supervisory framework and have put considerable public pressure on banking authorities to reevaluate their supervisory and examination programs” (Deloitte).

  Banks face some of the strictest consumer protections and marketing regulations, but the digital age creates new threats.

  In 2022, the Consumer Financial Protection Bureau (CFPB) warned that digital marketers must comply with finance consumer protections when targeting audiences. CFPB Director Rohit Chopra said : “When Big Tech firms use sophisticated behavioural targeting techniques to market financial products, they must adhere to federal consumer financial protection laws.”

  This couldn’t be more relevant to customer segmentation and the tools banks use to conduct it.

  Customer data in the hands of agencies and big tech

  Banks should pay attention to the words of CFPB Director Rohit Chopra when partnering with marketing agencies and choosing analytics tools. Digital marketing agencies are rarely experts in financial regulations, and tech giants like Google don’t have the best track record for adhering to them.

  Google is constantly in the EU courts over its data use. In 2022, the EU ruled that the previous version of Google Analytics violated EU privacy regulations. Google Analytics 4 was promptly released but didn’t resolve all the issues.

  Meanwhile, any company that inadvertently misuses Google Analytics is legally responsible for its compliance with data regulations.

  Banks need a privacy-centric alternative to Google Analytics

  Google’s track record with data regulation compliance is a big issue, but it’s not the only one. Google Analytics uses data sampling, which Google defines as the “practice of analysing a subset of data to uncover meaningful information from a larger data set.”

  This means Google Analytics places thresholds on how much of your data it analyses — anything after that is calculated assumptions. We’ve explained why this is such a problem before, and GA4 relies on data sampling even more than the previous version.

  In short, banks should question whether they can trust Google with their customer data and whether they can trust Google Analytics to provide accurate data in the first place. And they do. 80% of financial marketers say they’re concerned about ad tech bias from major providers like Google and Meta.

  

  Matomo is the privacy-centric alternative to Google Analytics, giving you 100% data ownership and compliant web analytics. With no data sampling, Matomo provides 20-40% more data to help you make accurate, informed decisions. Get the data you need for customer segmentation without putting their data at risk.

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

  Start for free

  No credit card required

  Bank customer segmentation examples

  Now, let’s look at some customer segments you create and layer to target specific customer groups.

  Visit-based segmentation

  Visit segmentation filters audiences based on the pages they visit on your website and the behaviors they exhibit—for example, first-time visitors vs. returning visitors or landing page visitors vs. blog page visitors.

  If you look at HSBC’s website, you’ll see it is structured into several categories for key customer personas. One of its segments is international customers living in the US, so it has pages and resources expats, people working in the US, people studying in the US, etc. 

  

  By combining visit-based segmentation with ultra-relevant pages for specific target audiences, HSBC can track each group’s demand and interest and analyse their behaviours. It can determine which audiences are returning, which products they want, and which messages convert them.

  Demographic segmentation

  Demographic segmentation divides customers by attributes such as age, gender, and location. However, you can also combine these insights with other non-personal data to better understand specific audiences.

  For example, in Matomo, you can segment audiences based on the language of their browser, the country they’re visiting from, and other characteristics. So, in this case, HSBC could differentiate between visitors already residing in the US and those outside of the country looking for information on moving there.

  

  It could determine which countries they’re visiting, which languages to localise for, and which networks to run ultra-relevant social campaigns on.

  Interaction-based segmentation

  Interaction-based segmentation uses events and goals to segment users based on their actions on your website. For example, you can segment audiences who visit specific URLs, such as a loan application page, or those who don’t complete an action, such as failing to complete a form.

  

  With events and goals set up, you can track the actions visitors complete before making purchases. You can monitor topical interests, page visits, content interactions, and pathways toward conversions, which feed into their customer journey.

  From here, you can segment customers based on their path leading up to their first purchase, follow-up purchases, and other actions.

  Purchase-based segmentation

  Purchase-based segmentation allows you to analyse the customer behaviours related to their purchase history and spending habits. For example, you can track the journey of repeat customers or identify first-time buyers showing interest in other products/services.

  You can implement these insights into your cross-selling and upselling campaigns with relevant messages designed to increase retention and customer lifetime value.

  Get reliable website analytics for your bank customer segmentation needs

  With customers switching in greater numbers, banks need to prioritise customer retention and lifetime value. Customer segmentation allows you to target specific customer groups and address their unique needs — the perfect strategy to stop them from moving to another provider.

  Quality, accurate data is the key ingredient of an effective bank customer segmentation strategy. Don’t accept data sampling from Google Analytics or any other tool that limits the amount of your own data you can access. Choose a web analytics tool like Matamo that unlocks the full potential of your website analytics to get the most out of bank customer segmentation.

  Matomo is trusted by over 1 million websites globally, including many banks, for its accuracy, compliance, and reliability. Discover why financial institutions rely on Matomo to meet their web analytics needs.

  Start collecting the insights you need for granular, layered segmentation — without putting your bank customer data at risk. Request a demo of Matomo now.

  Try Matomo for Free

  21 day free trial. No credit card required.

  
  

  Your email address
  

  Your website address
  

  Your Analytics subdomain will be .matomo.cloud (change)

  Choose your analytics subdomain
  

  .matomo.cloud

  I accept the terms and conditions and data processing agreement (DPA)

  
  Your information will be used to create an account on our cloud service. For more information please consult our privacy policy.
  
  
  

  Start improving your websites now

  

• Revision 30228 : Amélioration du formulaire de config

  26 juillet 2009, par kent1@… — Log

  Amélioration du formulaire de config