What is the purpose of tagging specific events as conversion events in Google Analytics 4?

Tagging specific events as conversion events in Google Analytics 4 serves to highlight these events as key outcomes that are important for business goals and performance tracking. By marking events as conversions, users can better understand the effectiveness of their marketing efforts and overall user engagement. It allows organizations to assess the value of specific actions that users take on their website or app, such as completing a purchase, signing up for a newsletter, or any other action considered valuable to the business.

Assigning monetary values to these conversion events enables a deeper analysis of revenue generation and return on investment (ROI). This structured approach helps businesses track not just the occurrence of these events but also the financial impact associated with them, leading to more informed decision-making and strategic planning. Such capabilities are integral for businesses looking to optimize their marketing strategies and enhance user experience based on measurable outcomes.