Instagram has 1 billion active monthly users. It is considered as one of the most important social media platforms – whether it’s for brand recognition or even product sales. Creation and promotion of content is necessary, but it is not sufficient to become successful on Instagram. Another important ingredient in the ‘Insta’ recipe is tracking metrics. Consistently measuring, tracking and analysing Instagram metrics will help you improve your content and how you post it.
Here are five metrics you must track regularly to improve your Instagram marketing:
1. Follower growth rate:
It might come as a surprise to you but the changes in the followers’ count are more important than the actual number of followers, as it gives you a good idea of whether your business is expanding its reach and catching people’s attention. Not every account can go viral and gain millions of followers in days, but you can still aim for a growth rate of 5-10% in the initial period. It can be calculated by –
NUMBER OF FOLLOWERS GAINED x 100 / NUMBER OF INITIAL FOLLOWERS
2. Engagement per follower:
Engagement per follower rate tells you about your content’s engagement, relative to your follower count. Tracking your engagement per follower lets you monitor just how interested your audience is in the content that you’re posting. This metric is especially important if you’re evaluating a partnership with an influencer. You don’t want to pay for a sponsored post on an account with less engagement. It should be noted that it’s important to compare the number of likes and comments with the size of the audience. It can be calculated by –
TOTAL ENGAGEMENT x 100/ NUMBER OF FOLLOWERS
Reach is the total number of people who have seen your post. It is different from impressions – if the same person sees your post 3 times, that will count as three impressions. However, it would only mean a reach of one. Thus, it is used to measure how many people are actually seeing your post. Along with the total reach, you want to be tracking your Reach Rate, which is the percentage of followers that see your post. It can be calculated by –
NUMBER OF PEOPLE REACHED x 100/ NUMBER OF FOLLOWERS
4. Instagram Stories metrics
One of the most essential components of current Instagram marketing strategies involves Stories. These are useful because they provide another dimension of content for your audience, which is more fun and spontaneous. When it comes to Instagram Stories, there are a few good metrics to monitor such as Story Replies, Story Taps Back and Forward, Story Exits and Impressions, among others. These statistics can be accessed through Instagram Insights.
5. Click Through Rate (CTR)
It is an important metric, measuring the content’s effectiveness at getting attention. Each of your ads and keywords has its own CTRs. A high CTR is a good indication that users find your content helpful and relevant. You can also use CTR to gauge which campaigns or keywords are successful for you and which need to be improved. A low CTR can be a result of the lack of strong and compelling call-to-action. It can be calculated by –
NUMBER OF CLICKS x 100 / NUMBER OF IMPRESSIONS
For Instagram ads, aim for a CTR of more than 0.5%.
Instagram is a great place to market your business. You should focus on these important metrics to get a clearer picture of how your current social media strategy is performing, as well as some ideas for how to improve for the future.