Do you want to know how to use Instagram metrics and analytics for influencer marketing? This article will answer all your questions today.
Instagram now offers more opportunities for marketers and brands who want to promote their businesses on the platform. More people now like and use Instagram. In 2021, Instagram achieved another milestone for surpassing the 2 billion monthly active users and almost 500 million people who are using Instagram Stories every day.
It is the most visually appealing network and is nowadays very popular. It offers the most user-friendly ecosystem for business brands as well as individuals. So, if you are a pro marketer, we don’t have to explain more about how these factors are the basis of successful digital marketing.
According to recent research statistics, 90% of Instagram users follow at least one brand, and about 50% of users who were surveyed in another study use Instagram to discover brands, products, or services. Another interesting research shows that 58% of users are more interested in a brand after seeing an Instagram story about the business.
Influencer Marketing for Instagram: Is there a chance to succeed?
Influencer marketing is the type of marketing done on social media networks where the Influencer endorses or introduces the products to their followers. An influencer can influence the decisions of buyers of a product because of their relationship with their audience.
To succeed with Instagram doesn’t end with just looking at the wonderful numbers, like from the statistics above. Like metrics, we have to interpret to make them meaningful. So, what do the numbers say about influencer marketing?
Looking strategically into approaching more influencers on Instagram to ace your marketing strategies is surely a wise business move. For example, if 80% of Instagram users find that Instagram helps them consider buying from a brand, leveraging influencers to push your products will increase your chances for success.
But if you should use Influencer marketing on Instagram, how will you measure your success?
How will you know if you’re doing the right things on Instagram? And how will you know if your influencer marketing strategy is going as expected?
That’s exactly where Instagram insights, analytics, and metrics come into play. And precisely, that’s what we will discuss in this article. We will also discuss the five ways you can use Instagram Insights to measure the performance of your influencer marketing.
Ready to get started? Great. Let’s dive right in!
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What are Instagram analytics?
Instagram analytics is the overall analysis of how you measure the performance of your Instagram activities, and their impact on your account. It is a way to measure the success rate of your account, which, if reviewed carefully, can give you valuable feedback to ace your marketing campaigns.
How do you monitor your Instagram Analytics?
Instagram Insights feature allows you to view the basic Instagram analytics reports of your data, which is enough if you are still a young business.
However, if you need to take your reporting to another level, it will be ideal for you if you find a better tool to give you the best analysis and recommendations for improving your success rates.
While many tools can help you link and analyze your Instagram insights on Google Data Studio, each has its strengths and weaknesses that you must consider before investing in them. One of the best and the most powerful tool you can try is our own, Dataslayer for Google Data Studio. It’s so easy to use and sometimes necessary for detailed business analytics.
Instagram Analytics vs Instagram Metrics
Whereas Instagram Analytics is the interpreted activity data from your account, Instagram Metrics are the individual pieces of data about your account activity. Metrics are the raw stats from your account, like the number of followers last week or this week. Analytics is what the analysis of these two will mean to your account. If there was an increase or decrease in your followers, you can interpret the pattern and find relevant feedback for your account.
What is Instagram Insights?
A great way to get basic analytics for your Instagram account is to use Instagram Insights to see the performance of your account, your posts, and your followers. Instagram Insights analyses different data from your Instagram account like the number of users who visited your profile, post engagement, website clicks, etc.
Only business accounts have the Instagram Insights feature, but sometimes accounts with higher engagements may also access the feature. So to use these metrics, create your Instagram business account if you don’t have it already.
It’s crucial to note that, while Instagram Insights offers more metrics to measure, it is too basic with limited features. Therefore, once you need more insights for your account’s activity, you may need to consider using third-party analytics platforms.
Why is Instagram Insights important for influencer marketing?
Influencer marketing is perhaps the easiest way to expand your reach, engage new audiences, build your brand awareness, and generate more sales for your business. While it’s necessary to leverage your influencers for your business, it is also crucial to have the proper tools and metrics to track their influence.
Therefore, keeping an eye on the relevant Instagram metrics for your influencer marketing will help you understand the value of each influencer in your business. You will get a clear picture of whom to invest more in and also if you should keep using this strategy to build your brand awareness.
How to view Instagram metrics for your Influencer Marketers
Instagram analytics report is what you get from your Instagram Insights page on your Business Instagram account. It’s critical to know that you will need a mobile device to view your Instagram Insights, as it is not available on the desktop yet.
Here are the steps you can follow to view your Instagram Analytics on Instagram insights:
- If you do not have the Instagram app yet, download it, install it, and sign in to it with your business account.
- Once you’ve opened the app and signed in, tap your profile picture in the bottom-right corner to go to your profile.
- Then click on the menu icon in the upper-right corner to open the menu items.
- On the menu, tap on Insights at the top. The Insights item has a graph icon on the left.
- That’s it!
Now, you can see your insights and analytics for your account. You can switch between the Activity, Content, and Audience tabs to see your insights and analytics.
If you need to import detailed Instagram metrics to Google Sheets or Google Data Studio for deeper analysis, you will need another tool to help you.
The Influencer Marketing metrics you should track on Instagram
The following are the list of metrics that Instagram Insights track, which you should track for your influencer marketing.
- Website clicks
- Engagement rate
- Followers growth
- Engagement per follower
- Comments per post
- Instagram stories engagement
How to use Instagram analytics for Influencer marketing
Knowing more about the impact of the Influencers on your business is important in determining their effectiveness for your marketing. You can do this analysis with Instagram analytics. It is crucial for your Influencer marketing for your business in the following ways:
Checking your return on investment
Many businesses are putting huge budgets on social media marketing, but only a few measure the value generated by social media marketing. Measuring your return on investment will help you determine whether the marketing strategies are efficient or need refinement.
Return on capital is typical of monetary value. In Influencer marketing, it can be brand awareness, social influence, and the kind of emotional sentiments and attitude of the Influencer’s followers towards your brand.
Because Instagram was developed just as a photo-sharing app without marketing, it is not easy to measure the return on investment without proper metrics. However, recently, Instagram added a shopping feature to allow businesses to post shoppable content. A simple formula used to calculate ROI is:
Instagram ROI = (Achieved value-Costs)/ costs x 100
The value achieved involves all monetary and non-monetary achievements like a positive attitude of the Influencer’s followers to the brand.
Measuring your brand’s awareness
Instagram Analytics can help you determine how famous your brand is. The number of followers of the Influencer determines how many people are viewing the content. So if an influencer with many followers posts your products, many people will know about it.
Therefore, you should always analyze the follower growth of the Influencer within a specific period.
Getting the impact of influencer marketing on your sales
Using the right marketing strategies for your business will show its results in your sales. Gathering your audience’s insights in terms of their gender, ages, and location can help determine if the followers are useful to the posted brand or not.
Your followers can also be active or passive, so Instagram analytics will help you know how many active followers are there and whether they are interested in the products. The engagement rate of the followers with any topic revolving around your product can also be a sign of the Influencer being effective for your business or not.
Complimenting your website analytics
Some of your products and services users will come back to give their feedback about their experience with your product. Such reviews are important for future customers who visit your website.
The Influencers can also post links to your websites to enable their followers to contact you directly. While you can measure the links from your Instagram account, it might not be effective after the first time the user is exposed to your brand. You can use it to see the number of users who keep visiting your website after using the links from the influencers.
Measuring your reach and engagement
From links, to post reach and shares, any activity that makes your users interact with your brand is measurable on Instagram insights.
Over 80% of brands believe that Instagram engagement metrics is the most significant metric you should track in your business. And it is true not just for Instagram, but for all other social media marketing campaigns.
The geographical location of your followers will help you know the distribution of your product users, also. Followers may also leave their views in the comment box, helping you assess what they think about your product.
Instagram marketing is one of the best and growing social media marketing strategies, and influencer marketing tops on the list. To take advantage of this platform, you’ll need to leverage on influencers, and Instagram metrics are essential for your influencer marketing strategy.
The ROI of your marketing is one of the bottom line of everything in your business. Influencer marketing has a cost because, in most cases, they have to be paid. Therefore, it should be efficient and effective. Influencer marketing should return more than its cost, and Instagram analytics can help you to calculate its ROI.
More so, remember that the return on investment is not always monetary in Influencer marketing. Instead, its main goal is to boost your brand’s image and create more awareness.
You can use the insights to measure how far your products or services are known in the market. You can get more about the impact of influencer marketing on your business with other reporting tools like Dataslayer.