Tracking your analytics may seem like a tedious and overwhelming task, yet it really doesn’t have to be! It can help you determine what to post, how frequently, and if your hard work is paying off. As a small business owner and food producer, we understand that you are extremely busy – so why not make the most of your marketing strategies to grow your business, and measure your success.
Luckily, Instagram does a lot of the work for you! When you switch to a business account, you get access to Instagram Insights, an analytics feature. If you haven’t yet switched to a business account, or haven’t signed up for an Instagram account – this post will guide you through the process.
Within Instagram Insights, you get access to three main sections: Activity, Content, and Audience. These sections can tell you crucial information about who is interacting with your content and whether your marketing is paying off. To learn more about these insights and what they are telling you – check out this post.
Now, that you understand what analytics are and what they are telling you, it is important to use them to help you! Here are our three best tips to help you get started:
Set a Key Performance Indicator (KPI)
A key performance indicator or KPI is a measurable parameter that can be used to evaluate success. As success looks different for each business, you must determine which parameter works for you to measure. If your business thrives on community and communication with your audience, track engagement. If you are looking to build your customer base and following, track reach.
Note: Reach is the number of unique visitors to a piece of content and engagement is the number of comments and likes on a piece of content.
By determining what you’re tracking, you have the ability to determine what success will look like for you. Create a spreadsheet and update results each week. Within a few weeks you will be able to see trends and adjust your strategy to meet your goals!
Calculate Engagement Rate for each of your posts
Engagement Rate represents the percentage of your followers that are engaging with a certain post or story. It is not a value that Instagram calculates for you, however it can easily be calculated two ways:
Method 1: Engagement Rate (%) = [(Number of Likes and Comments) / Number of Followers] x 100
Method 2: Engagement Rate (%) = [(Number of Likes and Comments) / Reach] x 100
Method 1 calculates the Engagement Rate against all of your followers. This value determines how many of all your followers are actually engaging with your posts. Low values can be due to many factors such as posting times, hashtags, videos versus photos, and more!
Method 2 calculates the engagement rate against all the followers you actually reached. It determines out of all the people that saw your content, how many actually engaged with your post. This value can be useful for when analyzing the content itself. For example, if this many followers are seeing the content, why do only 10% like it?
Both methods provide powerful insights into your posts and engagement with customers. By playing around with types of content, hashtags, posting times, and more – you can use the engagement rates to determine which gets you the best results. Similar to your KPI, make sure you are tracking this value over time to get accurate results.
In the Audience section of Instagram Insights, you will find information about your followers such as top locations, age range, gender and followers. This information can give you insight about your followers and when they’re engaging with your content. Most importantly, use the followers section to track at what time of day and which day of the week your followers are most active. Schedule your posts to match peak use times. This will increase possible engagement your customers will have with your content.
These are just three ways you can use Instagram Insights to grow your following and increase customer engagement. There is still much more to be learned and to explore in this space. By fine-tuning your strategy using real-time data, you are able to better use the system. Don’t let analytics scare you off, but instead use them to help you run a more successful business!