Measuring your business’ performance on Instagram goes beyond analytics. Instagram is one of the few social media platforms where it’s acceptable to solely focus on your brand. How do you know if your brand holds value online? How do you determine your brand equity? Simply put, by measuring how many users follow you cross platform. Your followers on Instagram should also be on your Facebook or Twitter. They should be visiting your website. They should be reading your blog. They shouldn’t be getting stuck on one platform—no matter how amazing your Instagram may be.
Understanding your goals, focusing on the right metrics to track, and using the right tools to collect data will not only enable you to determine if your Instagram is performing well, but also determine if it is driving traffic to other channels.
Understand your goals
Before you are able to measure success, you must know your goals. Understand the purpose of your account, what you’re hoping to gain from it, and how you’re going to achieve the results you want.
With over 300 million accounts, your brand’s unique personality is what differentiates you from others. Have a focus, distinct voice, and above all—stick with it! When you know your brand’s focus, you can better target your audience. Knowing more about your followers is key to effective communication, measuring existing behaviors, and setting expectations.
Focus on the important metrics
Data gives you the ability to measure performance and act upon results. By concentrating on the metrics that mean the most to your business, you can make better decisions on what users want to see and how to engage with audiences. Here are a few metrics every business should take into consideration:
- Follower Growth: The number of followers you have is not as important as the rate at which you are gaining them. See how the rate changes based on posting frequency, interaction with other users, a promotion requiring a follow, etc.
- Engagement: Take the average number of likes and comments on your posts and divide that by the number of followers you have. That will be your engagement percentage per total followers. For example, if you’re getting 15 likes a post and have 1K followers, your percentage is 1.5%—not good. You should be aiming for 3.31% – 4.21%.
- Clickthroughs: The only trackable URL you can share on Instagram is the link in your bio. Create a landing page specifically for Instagram to monitor the number of clicks and track conversation rate.
- Time: Finding out what time and which day your target audience consumes the most content can significantly boost engagement rate.
- Hashtags: Track hashtags of your brand name, products/services you offer, and those created by your business for campaigns
Tools to use
It’s easier than ever before for brands to create campaigns and posts, manage them, and measure results thanks to an array of tools being offered. Whether your budget is nonexistent or in the six figures, there is a tool available to help you see what’s working and what’s not. Here’s a few noteworthy tools to make Instagram a significant part of your social media marketing strategy:
- SocialRank: Manages your followers across multiple networks
- Crowdfire: See who does not follow back, who unfollows, find people who will follow you and people near you
- Takeoff: Sends notification when it’s the best time to post, provides hashtag suggestions to expand your post reach
- Tapshop: Followers clickthrough to landing page or custom email to shop your products
- Iconosquare: Advanced analytical tracking managed from a desktop
- Twtrland: Tracks competitors to see what’s working for them to better develop your strategy
- Latergram: Schedule posts for multiple Instagram accounts, regram a post while giving credit
Driving traffic to your website is one of the most important goals of social media. With Instagram being the #1 network for engagement, you can get more traffic— but you have to tell your followers where to go. Mention your website or use a call-to-action in your post captions and comments. Put a link to your site in your bio. Don’t just drop people on your homepage and have them fend for themselves, create a landing page to capitalize on visitors coming specifically from Instagram. Constantly improve your strategy to constantly see results.