What is the event value in Google Analytics
The event value is an optional metric in Google Analytics (GA) that can be used to evaluate user interactions with individual website objects or content elements. As part of event tracking with GA, the event value for a website object can be selected if the category of the object and the associated action of the user has been specified. Categories can be, for example, clicked videos or completed forms for a newsletter. The corresponding actions are then clicks on the video and submitted forms. With the choice of the event value, it can be determined in retrospect what monetary value this special user interaction has for the operator of a website. User interactions with videos or Flash content can also be evaluated more precisely.
General information on the topic 
Conventional web analysis data provide information about user behavior on a website: Which pages do users click on? How long do they stay there? Or with which areas of a website do users interact most often? Every page view is recorded and sometimes other key data such as the scrolling behavior of the user or the positions of the mouse control. However, a page view is not generated for every interaction. Some content elements can be accessed without reloading the website - which happens, for example, with asynchronous data transmission. They are often embedded interactive elements that can be used without any communication between client and server. These include:
- Embedded video players
- Games and microsites
- Ajax based actions
- Downloads of files
- Clicks on hyperlinks that lead to external websites
These user interactions can be recorded with event tracking that treats various interactions as objects: Event tracking in GA works on an object-related basis, in that content elements are selected by the tracking. The event value is used to scale the individual user interactions in financial and quantitative terms, and in this way to optimize the website and its content elements and to evaluate the effectiveness of certain content.
How it works 
Before an event value can be defined, basic tracking must be implemented. In the next step, website operators have to decide which interactions or website objects should be recorded by Google Analytics. For each interaction, a specific tracking code is then stored in the source code of the website so that Google Analytics can track the use of these content elements. The Google Tag Manager can also help with this.
After logging into GA, a property is selected for which event values are to be set. The Behavior submenu can be found under the Reports tab. The data on events can be called up there if the tracking has been set up correctly and events have been defined - otherwise GA has no data basis. The submenus are overview, most important events, pages and event flow.
The interactions can be managed and grouped with the Category, Action and Label options. A sensible structure and naming of these options facilitate the evaluation of the reports. Naming events can lead to conflicts if upper and lower case letters are mixed up and underscores are used instead of hyphens. Important: Event values are only meaningful if the events are precisely separated from one another and always match the content elements on the website.
The value of an event, like the label for an interaction, is an optional specification. The event value can only contain positive integer values and not strings, as is the case with the other options. The event value is therefore particularly important for content elements that are relevant to sales and conversion and should be chosen with care. For example, so that the value corresponds to the actual monetary value of an interaction.
All user interactions that have a direct or indirect effect on the conversions can be recorded and given a value. This explicitly includes events that result in or trigger other events. These can be viewed under the Event Flow tab if various events have been defined. In addition, there are event values that record, for example, the loading time of a video and other interactions with this content element, such as clicks on play, pause or stop. The interaction options and their evaluation depend on the content element that is being interacted with.
The event reports in GA show the following key data in the overview:
- Average value: The average value is obtained by dividing the event value by all events. It indicates the average value of each event.
- Unique events: Here you can see the number of events that can be clearly assigned to a category, action or label.
- Total events: The frequency of all events is shown.
- Event value: The total value of an event or a group of events, if defined. The event value is calculated by multiplying the value of the event by the frequency of the event.
The possibilities for recording different interactions are diverse and can be adapted depending on the website. If event values are set together with the website goals, further options for tracking conversion goals open up. In addition, segmentation of individual user groups, dimensions and filters can refine the reports.
- Every new registration for a newsletter receives an event value.
- The user interactions with a video such as play, pause or stop are recorded in whole numbers. For example, the runtime can be evaluated.
- A download of a white paper receives an event value so that it can be counted as a conversion.
- The click on an external link is recorded and receives an event value.
Importance for web analysis 
A sensibly set up event tracking allows a deeper analysis of the user behavior with regard to the value of an event and the achievement of website goals. If the event tracking is structured in a meaningful way, event values can be assigned with which the financial results of a website can be measured. The event value as such is optional, but it should not be missing in certain scenarios. Especially when it is clear which content elements are financially relevant, event values enable different levels of analysis that can be compared with the strategy. When testing different website variants and content elements such as call-to-action buttons, the data from the event reports can also be helpful.
- ↑ Google Analytics Event Tracking timoaden.de. Retrieved on June 9, 2016
- ↑ Set up event tracking support.google.com. Retrieved on June 9, 2016
- ↑ The Google Analytics manual for advanced users winlocal.de. Retrieved on June 9, 2016
- ↑ Event Tracking in Google Analytics ganalyticsblog.de. Retrieved on June 9, 2016
- ↑ The Event Flow report at support.google.com. Retrieved on June 9, 2016
- ↑ Create, edit and share goals support.google.com. Retrieved on June 9, 2016
- ↑ How to Use the Google Analytics Event Tracking Report searchenginewatch.com. Retrieved on June 9, 2016
- ↑ Tracking events with (Universal) Analytics [Update] kritzelblog.de. Retrieved on June 9, 2016
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