With recent technological innovations, most modern customers frequently become exposed to various brands whenever they use their mobile devices to check social media. Since these users often log into these digital channels, organizations who secure digital presence on these platforms reach a broader audience that eventually becomes their consumers.
As a result, they gain a competitive edge and higher market share while receiving more revenue from these online users, which ensures the business's success.
If you're an entrepreneur who still practices traditional and outdated promotional tactics, you're missing out on many opportunities to earn more sales from a bigger market. Fortunately, with the help of social media channels like Instagram, you can gain accurate insights about your target audience, which is beneficial in enhancing product and service features.
However, to ensure that you're taking full advantage of this platform, you should regularly monitor your campaigns to master the techniques that prove adequate to produce better content in the future.
This article provides you with the three methods for tracking the performance of your Instagram marketing strategy.
Observing your competitor's digital marketing strategy is essential in monitoring your campaign progress because you can figure out what's working for them.
For instance, if the superior brand in your industry has a wildly successful Instagram marketing initiative, you can observe how they interact with your ideal audience.
While it isn't advisable to completely steal their concept, discovering that their content strategy is shareable and interactive helps you to create your unique ideas into your digital presence.
Before spying on other online brands, you must take advantage of Instagram Insights since it breaks down engagement for public accounts using valuable key performance indicators (KPIs).
These metrics may include likes, comments, saves, and shares. Once you see a lot of engagements in a specific post, you have to calculate your engagement rate by comparing them to your current number of audiences.
After that, you must calculate your Instagram marketing engagement success by comparing your rate to those in your niche using a web viewer. The main objective of this tactic is to determine how well your campaigns are performing by determining the average engagement rate of your competitors to know your standing.
Alternatively, you may use a free influencer earnings calculator to notify you about your accurate engagement rate and any other account you enter.
As you actively publish engaging and attractive content on your Instagram platform and use the right hashtags to gain more views, these viewers will likely follow your page. Some users might even buy from your brand after watching a video advertisement from your Instagram reel and recommend it to their colleagues.
In turn, you gain more revenue while gaining an interactive community of followers who can become your loyal brand advocates, which reduces promotional expenses since you have a massive follower count.
Having an engaging audience is an essential element in tracking the performance of your Instagram marketing strategy by calculating your follower growth rate. The formula is follower growth rate equals the total number of followers you gained within a month divided by the total number of followers you had at the beginning of the month multiplied by one hundred.
After that, you have to ensure that you're not using bots to grow your audience because they might hurt your search engine performance, which affects your digital growth.
Promoting products and services through Instagram stories is a modern tactic that enables companies to easily share their brand messages with their audience as they sustain a high Instagram engagement.
These promotional elements are powerful enough to boost brand visibility, engage with your followers, reach a wider audience, generate more leads, and receive immediate feedback for new products. In addition, this marketing tactic encourages the active use of real-time advertising, which urges loyal fans to interact with a brand.
Since most traditional companies usually appear serious, Instagram stories help modern businesses show their audience the more human side of their brands, which boosts Instagram marketing. With that, you have to assess Stories engagement by switching your account from personal to business mode so you can use the built-in insights to discover the success of your campaigns.
You may measure reach that, tells how many people watched your story or exit count showing where people were spending their time when they navigated away from the stories.
As a business owner, you need to take advantage of modern promotional platforms like Instagram that will allow you to advertise your products and services to a broader audience without paying additional fees.
With that, you must consider following these three methods in tracking the performance of your marketing strategy on this channel so you can evaluate the success of your campaigns.
Once you do so, you'll figure out which content type your ideal customers prefer, which helps you to transform your marketing campaigns into more relevant and engaging ones, which ensures the success of your digital marketing tactics.