CEO Memo - May 2023
Hi Everyone,
Wow what a month! May was highly successful in so many ways.
Please make sure you check out my CEO memo if you want to discover more about AI and how it will actually be built. Microsoft is blowing everyone out of the water with their tech stack and we are so excited to integrate it into our systems progressively over the rest of the year.
Lots of new content on our YouTube Channel this month, so make sure you check that out. The team is putting in the mahi to deliver more insightful walkthroughs about products you want to know more about.
Below I have put down an outline regarding the GA4 release, and different segments relevant to all clients.
I cannot wait to see what June brings!
Have a wonderful month.
Jeff
GA4 transition - Timeline
1 GA4 Configuration - Reports, Demographics, Conversions.
2 GTM Configuration - Tags for GA4
3 Looker Studio Reports - Update from Google, they have increased the quota threshold.
4 GA4 Interface Training - For INS/OPS team. Events protocols, Explorations, Interface experience.
5 GA4 - Creating Audience List & importing them to Google Ads
6 GTM - Creating Remarketing tag & Conversion tag in Server container.
7 Google Ads - Gclid is going away and Gbraid will take over (FYI)
8 In June - Google Ads - Removing UA Conversions and importing GA4 Conversions
9 In July/August - GTM - Removing Universal Analytics tags from GTM
10 Between July-Dec 2023 - Downloading Historic data from GA Universal using Query Explorer Or Google Sheet.
11 Potential to create a Historic Looker Studio report for clients connecting to Historic data, which doesn’t change and can be set up as a one-off cost to you.
KEY:
Green = Web Wonks likely has completed for you already
Dark Blue = Will be completed by your project manager and integrated into your project in the coming months
Red = An upgrade we will make to your account FREE of charge (to be used with AI)
Yellow = Changes made by Google
Blue = An offer we will make to all clients, where you can pay for us to store historical data.
Market Insights
Last year we started the process of aggregating client data into anonymised reports that allowed us to provide insights into a slice of the market’s ad spend, and subsequent number of conversions and revenue. This was well received, but we want to keep working on how we better deliver insights to our clients.
One way of doing this is to integrate Google Analytics and Google Cloud to better handle larger queries and insights. To do this, we will need to make additions to your Google Tag Manager account to send data from GA4 to Google Cloud - this process will begin in July.
Overall Metrics:
NB: Due to limitations imposed by Google, the data below is only a sample of 20% of total datasets.
The details below highlight the Google Ads Performance from 1st May 2023 to 29th May 2023.
In comparison to the previous year for the same period, the cost increased by 25.7%, and the average cost per click increased by 22.9%. This is again a jump from last month’s cost for Ads.
Overall conversion value (Online Revenue from Ads) only improved marginally i.e. 1.7% and ROAS reduced by 19.1% and is at 6.34.
Store visits have also decreased by 44.2% Year on Year which is the biggest drop in this year's numbers, and the cost per impression for the ads increased by 113.9%.
Return On Ad Spend Metrics
This graph chart highlights the ROAS trend over the past year.
The trend line continues to drop for May 2023 performance for the ROAS figure at 6.31, which is the lowest since January 2022. The total revenue from Google Ads is also the lowest at $761k in May 2023. Based on last year's performance, we anticipate June 2023 to perform better than May, and it should improve further from July/August onwards.