Google Analytics Connector in Pardot
here is some more information on the google analytics connector in Pardot:
The Google Analytics Connector is responsible for collecting data in the google analytics fields:
Google Analytics Source
Google Analytics Medium
Google Analytics Campaign
Google Analytics Content
Google Analytics Term
Additionally, the connector doesn't sync directly with Google Analytics. Instead, it captures keyword tags on assets. It is compatible with Google Analytics 4. So, that shouldn’t be a problem. However, it is essentially just grabbing the data from links (ie utm_source=bing).
utm_source can be used to set the default source field that you are using in your report. However, this field is controlled by the CRM (Salesforce), Pardot, AND the vendor (eg Google).
So, for instance, if someone is greated in Salesforce BEFORE they engage with Pardot and have a source = LinkedIn, this will not be overwritten later when they engage with Pardot assets via Google Natural Search. I am not sure if that aligns with how things would be tracked in GA4. Additionally, via the Pardot/GA Connector, the vendor (Google) is partically in control of this (ie if the type of source is empty, the vendor populates the source field).
Long story short, this is just a basic out of the box connector, not a direct integration with Google Analytics. We have almost no control over how it works. So, I would take this data with a grain of salt since it is not something we built and infromation around the connector is fairly vague.
The Natural Search part is actually controlled by the vendor (ie Google):
Account Engagement looks at the type of source (natural search, ad, paid search, or empty), and the vendor for the prospect’s first touch with your marketing assets. The two parts (vendor + type) are then combined to give you a value for the source field. If the type of source is empty, the vendor populates the source field.
For example, the vendor Google can provide all three types: Google Paid Search (your Google Ads), Google Ad (content network ads), and Google Natural Search.
This is all I could find on how that field is filled out. Hence, I would be hesitant to use it as a source of truth since we cannot see or change it’s behavior.