If you are promoting a business on Instagram, you will need a strategy for evaluating and quantifying the success of your posts. We know that Instagram’s over 1 billion users spend a minimum of 30 minutes per day exploring the network (on average). In addition, 81% of Instagram users utilise the platform to research products and services before making a purchase. As a result, your business must take advantage of this large number of active users and discover strategies to acquire and convert them into paying clients. Setting and measuring KPIs is one of the most efficient strategies to get tangible results from your social media marketing.
What does KPI Mean
KPIs are key performance indicators used to track your progress toward a specific goal. Many companies utilise KPIs to monitor the performance of their team or even specific departments. KPIs help measure the success and impact of your social media platform activities and campaigns in the case of social media marketing. You can effectively measure whether your social media strategy is effective by evaluating and measuring your Instagram analytics and social media statistics.
What are the KPIs You should Track on Instagram
On Instagram, you can track a slew of analytics and statistics. But, what KPIs should be at the top of your priority list? Ultimately, concentrating just on vanity metrics (such as likes and follows) will not move the needle for your company. A professional of Digital Googly, one of the best social media marketing companies in Kolkata, India, listssome of the most important Instagram KPIs and social media metrics to track as part of your social media channels strategy.
Reach and Impressions
The number of unique visitors who have seen your Instagram content is known as reach. The number of times your material was displayed on Instagram is referred to as impressions (even if a single user viewed your post several times).
In most circumstances, your impressions will be higher than your Instagram post’s reach. Because a single user can have many impressions (or views) on a single Instagram post, this is the case.The good news is that your Instagram Insights measure both reach and impressions separately, making it simple to spot any patterns or variances between the two KPIs.
Do you want to see how well different forms of content are accepted by your audience? You can examine how your audience reacts to your Instagram material by calculating your social media engagement rate.
Rather than focusing just on the amount of engagements (likes, comments, saves, and shares), your engagement rate measures how well your content did in relation to the number of followers or post impressions you have.
Increase in the Number of Followers (Follower Growth Rate)
Looking to increase your Instagram follower count and reach your target audience? If that’s the case, follower growth rate should be one of your key performance indicators. When it comes to Instagram marketing, your follower growth rate, like your engagement rate, tells more than just how many new users clicked ‘follow’.In fact, it exposes the rate at which you’re collecting followers and how rapidly you’re gaining them (or losing followers).
Traffic from Referrals
Are you using Instagram to generate visitors to your eCommerce store, website, landing page, or app (together with other social media platforms like LinkedIn)? If that’s the case, you should keep track of how much referral traffic (also known as clicks) comes from your Instagram account.
This KPI is all about determining how many Instagram users are visiting your website via link clicks from your profile or social media postings.
The Best Time to Post
It’s a fact that you only want to post Instagram content when your target audience is online. As a result, keeping track of your best posting times is a crucial KPI to include in your social media marketing strategy. Checking your own Instagram Insights is the most valuable measure to consider when determining the ideal publishing times for your business.
According to a social media marketing agency in Kolkata, India, setting defined KPIs for your Instagram activities will aid you in making smart decisions about how to increase your outcomes and content performance. You will be able to pivot your approach and hold your Instagram content accountable for business success by defining benchmarks and goals and analysing your metrics on a regular basis.