Google Analytics 4 (GA4) doesn’t directly provide a metric for “revenue per conversion.
However, you can analyze your data to understand the average revenue generated per conversion event.
Here are two approaches:
1. Use Conversion Rate and Average Order Value:
Conversion Rate: This metric shows the percentage of sessions that resulted in a conversion (e.g., purchase). You can find this in the “Conversions” report.
Average Order Value (AOV): This metric represents the typical amount spent per purchase.
You can find this in the “Ecommerce” reports if you have ecommerce tracking enabled.
By combining these metrics, you can estimate the average revenue per conversion:
Estimated Revenue per Conversion = Conversion Rate * Average Order Value
2. Leverage Custom Analysis:
GA4 allows you to build custom Explorations to analyze data.
You can create an Exploration with the following metrics:
Event revenue: This metric captures the total revenue associated with conversion events (purchases, subscriptions, etc.).
Number of conversions: This metric shows the total number of conversion events.
Divide the event revenue by the number of conversions to get the average revenue per conversion for the specific conversion event you’re analyzing.
Here are some additional points to consider:
GA4 offers various conversion event types. This approach helps you analyze revenue per conversion for specific events (e.g., first purchase vs. repeat purchase).
If you have goals set up for different revenue amounts, you can segment your data by goal to see the average revenue per conversion for each goal.
By using these methods, you can gain valuable insights into the effectiveness of your conversion events in driving revenue within GA4.
Need to know the difference between conversions and events. Read more here