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If your business is targeting millennials and Gen Zs, Instagram is a powerful marketing tool. Instagram marketing can be crucial to generating more revenue for the business, by providing higher engagement rates to driving conversions. Most importantly, Instagram can help create a strong brand identity that increases awareness of the business and promotes a cohesive brand image to the public.

Using this platform can be really give a lot of positive impact for the business, but in order to do so, you should be closely monitoring its performance. In this article, we will list 5 metrics that are used by a lot Melbourne SEO services and online marketing experts to track the success of their marketing strategy.


1. Engagement Rate

Tracking and monitoring your posts’ engagement rate is crucial. It is a key indicator to know about your followers’ perception of your business. We believe that engagement rate is way more important than number of followers. It is nice to have a lot of followers, but if they are not positively engaging with the business’s posts, it all amounts to nothing.

Interact with your followers in social media as much as you can. These interactions indicate that they are satisfied and happy with your product and have the potential of becoming loyal customers, as result they are more likely to promote your business. However, if the engagement rate of your business’ Instagram post is low, we would highly recommend you to go back to the drawing board and redevelop a new and improved content plan.


2. Instagram Stories Metrics

Replies, completion, watch-through rates, and drop off rates are the most important metrics to look out. You can do this via Instagram’s Insights tool. You need to turn you Instagram account to an Instagram business account in order to access insights for your stories.

Monitoring your tap backs and forward taps is one way to gauge how customers are engaging with your stories. For example, tap backs might indicate that your content was so interesting that the viewer wanted to go back for a second look. But it also might indicate too much information in a single frame, resulting in the viewer running out of the allotted time to consume it. Tap forwards, on the other hand, might suggest that your audience chose to skip that particular content for some reason.

A popular method of calculating your engagement rate is to divide your ‘reach’ by the number of followers to see what percentage of them are viewing your stories.


3. Ad Click-Through Rates (CTR)

Most of the time, your social media campaigns goal is to get people to visit your site and one of the best ways to do this is through Instagram Ads. If you are running sponsored ads on Instagram, the biggest KPIs you should be monitoring is click-through rates (CTR). Additionally, if you’re running ads, you should also be keeping an eye on cost per thousand impressions (CPM) and cost per click (CPC), as these are key indicators of the effectiveness of your ads.

According to Adstage, the average click-through rates on Instagram are around 0.52%. Use this as your benchmark, if your click-through rate is high, then you’re on the right track! If it’s low, then it might suggest that something need to be changed, either your content isn’t resonating with your audience or your call-to-action.

You can also experiment with split testing, also known as A/B testing, which will help you refine your caption, image and target audience to optimise results.


4. Location Data

Location Data is a metric that allows businesses to pinpoint the geographical area of their followers. It can help you earmark areas where the business should have a more active presence, even more it provides data incase your businesses looking to expand to other countries, cities, and districts.

You can also target the business’s Instagram posts to reach people living in certain areas. Alternatively, you can use the location data metric to reshape your entire digital marketing strategy. For example, business owners can start targeting certain areas within their local SEO efforts.


5. Tracking IG Saves

Unlike likes and comments which are exceptionally common on the platform, Instagram Saves are rarer. IG Saves allow users to bookmark posts which make it a great tool for assessing the quality of content created on your business’ page.

You can improve the IG Saves metric by creating content with longer captions that provide useful and handy tips that users might like to keep nearby. That includes how-to content that users might need to use more frequently.  You can monitor the regular engagement rate in conjunction with the true engagement rate to gain a clearer perspective on the performance of your overall Instagram marketing campaign.