Many still have not seen the new look of Google Analytics 4, the said to be new and improved version of Google's website and app performance measurement platform. The older version of Google Analytics is still in place for those who decide not to transition, but for new Google Analytics accounts, multifamily marketers should be prepared to see something a little different.
Old Google Analytics Acquisition Report
New Google Analytics 4 Acquisition Report
One of the first things multifamily marketers will recognize is the disappearance of the ever popular bounce rate- a metric used to measure the percentage of traffic that only viewed one page on your website without triggering any other actions before leaving. The previous benchmark of having a bounce rate of 40% or lower will now be replaced by Engagement Rate- a measurement of actively engaged traffic on your website. This new metric is determined by spending at least 10 seconds on your website, fire a conversion event, or fire more screen or page views.
So, what's the benchmark for Engagement Rate for multifamily? The new metric will be greater than the inverse of your bounce rate based on the way Google measures engagement. So, if you had a previous bounce rate of 40%, your engagement rate would be 60% at a bare minimum. This metric is brand new to Google Analytics 4 and to multifamily marketers, so more accurate benchmarks will emerge in the coming weeks and months. That being said, you should look to have an engagement rate at a minimum of 60%, but more in line with something north of 65%.