Instagram is now a photo and video sharing app. Its attractive and simple visuals are a hit to the younger generations. But the platform can go further beyond visuals. There are top Instagram metrics that marketers should track. This is to create a social media profile that highlights your brand and goal. Instagram seems to appear as a small social media network. But it is a very powerful marketing tool to capture leads and sales. According to a social media agency Hong Kong, tracking the right metrics is crucial to maximizing one’s Instagram marketing efforts. It may not always be clear where to start. But these specific metrics may be the most important to your brand.
A digital marketing speaker Hong Kong notes that there are two categories for Instagram engagement rate. These are engagement rate by followers and engagement rate by reach. Engagement rate by followers shows the percentage of your follower base that has taken actions on your Instagram content. These include comments, likes, saves, and shares. It is one of the most powerful Instagram metrics that marketers should track. It helps marketers discover which content is closer to their user’s hearts and what resonates best with their target audiences. Engagement rate by reach gives marketers an in-depth look at your overall engagement on Instagram. It is calculated by adding the number of comments and likes on an IG post, then dividing it with your total number of IG posts. Divide the quotient again by the total number of the IG page reach and multiply by 100. The average engagement rate by reach on Instagram for photos is 13% and 8.5% for videos.
This is also known as one of Instagram vanity metrics. Vanity metrics are those that make your IG page look good to others but do not help marketers understand a brand’s performance. Follower growth is not necessarily a top Instagram metric when creating a marketing plan. But marketers should track them in priority to better understand their social media efforts. Having a large number of followers on Instagram counts when it comes to targeting reach. But they can somewhat hurt the brand when it comes to conversion. Most of the time, business accounts with smaller audiences are more niched. As such, their audiences are more likely to buy their products and services.
Reach, in a nutshell, means how many people on Instagram see your content. But Instagram algorithm counted reach as the unique views on IG content. Reach is different from an impression, in a way, that the latter shows the total number of views a piece of content has regardless if it is repeated by a single user. If you are looking to make your IG content viral, marketers should target reach instead of impression. Reach is also the best way to measure brand awareness.
Instagram enabled its shopping features in 2016. It then launched Shops last July 2020. This was a big eCommerce push for the platform. This made sales a vital metric that marketers should track on Instagram. They can help understand the type of IG content that is most likely to convert. It is not merely driving traffic to a web page. But it is measuring how many Instagrammers make a purchase.
Save is the hottest and the “new like” metric on Instagram. This shows that Instagrammers really appreciate what a brand post or says. By tracking your saved posts on Instagram, you will get to know what type of content can bring the brand to a win-win situation.
Around 500 million Instagram users visit Instagram Stories daily. This is why it is important to track your story views. They are the most preferred ways for users to interact with a brand. There are 5 factors that marketers need to track when it comes to Instagram story views. First, is the completion rate or the percentage of viewers that watch the whole story slide. Second, is the click-through rate or the percentage form of your completion rate. These 2 metrics show how many of your followers are very eager to hear and view what you say. Third, is the drop-off rate or the number of people who quit after seeing your first Instagram Story. The drop-off rate is correlated with the exit rate or the percentage of people who abandon watching your first story. Both drop-off and exit rates should be treated as a big warning to shift a brand strategy since they are not delivering what people expect on Instagram. Last is the retention rate or the number of people who stayed viewing the Instagram Stories you are posting. A high retention rate signals that you are doing the right thing when it comes to effective storytelling.
Every brand’s goal is to boost conversion on Instagram. To do so, marketers should keep tracking the traffic metrics of an IG post. Traffic is the number of leads driven to your Instagram page or website. The more leads you drive, the more chances your post can convert. Driving traffic on Instagram means posting eye-catching and engaging visual content. Recently, a video marketing agency Hong Kong notes that videos have been very powerful on Instagram today. With the introduction of Instagram Reels, short-form video clips outperform links and text by 1200%.