According to statistics from Statista, over a billion people across the globe use Instagram every month. The statistics also show that most of them are under 45.
Therefore, there is a fantastic chance to introduce your brand to many people through the social media platform.
When promoting your brand, Instagram Ads are a great option. Almost anybody with a marketing budget can take advantage of these hyper-targeted, fully customizable ads.
To be successful with paid ads, you must experiment, fail, adjust, and, of course, monitor your results constantly.
However, how can you tell whether your company is succeeding? All you need is a set of key performance indicators (also known as KPIs).
Instagram Ads KPIs give you a measurable goal and a specific figure to aim towards.
In this article, I’ve compiled a list of ten key performance indicators (KPIs) you should keep tabs on for your Instagram marketing campaigns.
But first, let’s clarify what KPIs mean and why they’re so important.
What are KPIs?
KPIs stand for key performance indicators. In various settings, you can use them to track progress toward a specific goal. Companies often use KPIs to keep tabs on the progress of teams or even specific divisions within such organizations.
KPIs are used in social media marketing to evaluate the effectiveness and impact of your campaigns and activities on various social media platforms.
You can tell whether your social media marketing strategy is effective by evaluating and comparing your Instagram metrics and other social media data (or if you need to make changes).
Why are KPIs Important?
Accordingly, KPIs are an essential aspect of any business or marketing strategy’s ability to track progress in meeting its objectives.
KPIs help companies determine whether they are on the right track. If the company isn’t on the right track, KPIs show aspects they should focus their efforts on. The ultimate purpose of any KPI is to raise the overall company’s performance.
What Are Some Good KPI Examples?
Some essential KPIs depend on your campaigns, the industry you work in, and the kind of purchases you conduct. A few examples of frequent KPI sources that firms use to monitor the effectiveness of their strategies are:
- Cost per conversion by channel.
- Average time of conversion
- Retention rate
- Attrition rate
- Monthly website traffic
- Traffic from organic search
- Returning vs. new visitors
- Visits per channel
- Average time on page
- Click-through rate on web pages
- Pages per visit
- The conversion rate for call-to-action content
How do you Choose KPIs?
KPIs are vital to every business interested in measuring its current position and possibly improving it. As they say, what gets measured can be improved.
Evaluating your present performance using KPIs can provide you with a framework from which to analyze your development. However, you could be asking, “How do I choose a KPI? “.
While there isn’t a hard-and-fast rule for choosing the proper KPIs, you should always consider several factors. The following are some steps and strategies for choosing KPIs:
- Identify what metrics are most relevant to your company’s goals.
- Make the goals specific.
- Use Ratios and Ranges
- You need to focus on a few important KPIs rather than excessive data.
- Consider your company’s stage of growth.
- Identify both lagging and leading performance indicators.
Download a Facebook + Instagram PPC Report for Ecommerce
Instagram Ads KPIs
At least 30 minutes a day (on average) is spent by Instagram’s one billion users surfing the platform. Most Instagram users use the app to research goods and services before making a purchase decision.
As a result, your company must take advantage of many active users and devise strategies for luring and converting them into paying clients.
You need to set up and track KPIs to see actual results from your social media marketing.
Keep reading to learn why measuring KPIs is critical to your social media strategy and the most critical KPIs to monitor for Instagram Ads.
Why Is It Important to Analyze Instagram Ads KPIs?
You must be able to monitor and measure the performance of your Instagram ad campaigns.
You can’t tell whether your plan is working if you don’t set targets or benchmarks against which to compare your progress.
Instagram Ads KPIs are one of the best approaches to keep track of your social media performance, in general.
You can also use KPIs to assess your Instagram marketing efforts’ return on investment (ROI) when they are defined and measured appropriately.
Download a Facebook + Instagram Ads ROAS report template
Top Instagram Ads KPIs to track
The most popular Instagram ad KPI is engagement, but we’ll also go through some others. Read on as I dissect the top Instagram Ads KPIs to track.
1. Engagements per Follower
Instagram marketers utilize the number of engagements per follower to gauge the performance of their marketing campaigns. You need to take specific steps to get more people to engage with your content.
Therefore, this Instagram Ads KPI should be at the top of any social media marketer’s priority list regarding their KPIs for social media.
2. Follower Growth
If you’ve seen a decline in your Instagram following, it’s a good idea to figure out why. It’s also a good idea to look into any sudden rises in your followers.
You can use the growth rate of your Instagram followers to measure how quickly you’re building your following.
3. Comments Received by Content
Look at the Instagram ad comments to see whether people find your content interesting.
This metric would be a good sign, even if they didn’t share the content. Using this Instagram ad KPI is an excellent strategy for any company.
4. Engagement Rate (Reach)
Reach is one of the Instagram Ads KPIs that managers and marketers always track. To some analysts, this KPI is nothing more than a vanity metric, yet there are a few practical uses.
Reaching many individuals who aren’t in your target demographic will not affect your campaign’s performance.
A more effective approach is to target those who have shown an interest in what you have to say rather than trying to reach out to everyone.
5. Comment Rate
Measuring how many times and how often users comment on your Instagram posts helps you develop a brand identity and decide which content gets shared the most so you can use it more in your campaign.
Even if you don’t intend to use them as analytics, you need to have a plan to respond to and communicate with your followers when they leave comments.
6. Like Rate
The number of “likes” and “favorites” on your post indicates how much the user values what you have to say. You can still see the Like count in your analytics, despite Instagram’s decision to hide it from public view.
7. Exits Rate (Stories)
Keeping tabs on your Instagram Stories’ drop-off rates is also vital, so you can figure out which slides draw the most attention. You may use this to improve your Instagram Stories strategy and content in the future.
8. Completion Rate (Stories)
This figure represents the number of people who have seen your Instagram Stories till the end. A high completion rate indicates that your audience is interested in what you have to say.
9. CTR (Links from Stories)
To calculate CTR, you divide the number of clicks by the total number of page impressions. The more ads are clicked, the better for you (and Instagram).
In addition to increasing overall reach, each click-through will yield a set value that you can use to fund future ads. Your CTR will improve when this rate rises.
10. Response Rate (Stories)
Responses or direct messages suggest that your customers actively engage with your brand on Instagram and are beginning two-way discussions.
You can track the level to which your Instagram followers feel a personal connection to your company by keeping tabs on this KPI.
With Porter Metrics’ Facebook + Instagram Ads connector, you don’t need to measure these KPIs yourself, as porter metrics will offer you free templates to create top-notch reports and visualizations.
You must connect your Facebook/Instagram Ads account to Porter Metrics, then select a template.
How to Set Realistic Instagram Ads KPIs
Make sure your Instagram Ads KPIs reflect your company’s overall business objectives when creating them. It’s also a good idea to consider the concept “SMART.”
In other words, ensure that the KPIs are flexible enough to allow for reevaluation and revision; since no company’s business objectives are fixed in stone.
Your Instagram Ads KPIs must be flexible enough to evolve with your company’s evolving business objectives. To set realistic Instagram Ads KPIs;
- Look at Your Business Goals
- Define Your Instagram Ads Strategy
- Set and implement SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) Goals
Download Instagram Analytics Report Templates with Google Data Studio
Measuring Instagram Ads KPIs: How to get started
You may be wondering what to do next now that you’ve learned about the most influential Instagram Ads KPIs to monitor and how to set realistic Instagram Ads KPIs.
The next step is to begin tracking your Instagram Ads KPIs, which you can do using the information provided here.
What to Look Out for
Here are some metrics to look out for when you start measuring Instagram Ads KPIs:
- Influencer Engagement Rates
- Followers Timeline
- Engagement Timeline
- Audience Demographics
- Campaign overview
- Engagement breakdown
Tracking Tool #1: Porter Metrics
You can use Porter Metrics to see the most important KPIs for your Instagram Ads campaign’s performance.
Make porter your primary Instagram track; if you want to make better and quicker choices about your advertising strategy, share this dashboard with your marketing team daily, weekly, or monthly.
The Instagram Ads Report for Google Data Studio by Porter Metrics provides an in-depth look at the ad content and its success.
Porter metrics has a mobile-friendly dashboard that gives you all the information you need at your fingertips.
The no-code platform eliminates the guesswork from your ad marketing campaigns by offering reliable statistics and verified data in real-time.
Features
Have a look at some of the features Porter Metrics offers:
- Ability to track your campaigns.
- 600+ KPIs and metrics to analyze your Instagram Ads data
- 20+ templates for every use case
- Visualize your advertiser profile information.
- Downloadable custom reports
- Free template galleries.
- 24/7 Customer Support
- Familiar marketing tools
- No-code
- white-label Instagram Ads reports
With porter metrics, you also get multiple charts to visualize:
- Costs, impressions, and clicks.
- Gender and age by impressions.
- Campaign objectives by cost per click, conversions, impressions, cost, and clicks.
Pricing
Porter has four paid pricing plans and a free trial. The following are the pricing plans Porter Metrics has:
- The ‘Solo’ plan comprises just one connection and costs $15 per month or $150/Year.
- Porter’s Teams plan comprises five connections with 10 Google My Business locations and costs $30 per month or $300/Year.
- The ‘Agencies’ plan comprises 20 connections with 100 Google My Business locations and costs $80 per month or $800/Year.
- The final plan, ‘Custom, ‘ demands that you contact porter to describe what best suits your agency.
All plans allow subscribers to have unlimited users.
Tracking Tool #2: Instagram Insights
Source: Instagram
The Instagram app has a built-in analytics feature that gives information on your Instagram account’s reach, engagement, followers, and Ads. It’s an excellent free Instagram analytics tool, but it may not be ideal for professional social marketers.
You’ll need to check different Instagram analytics tools if you want to keep track of your campaigns over the long term or export your data for a social media report.
Features
With Instagram Insights, you will be able to visualize:
- General profile statistics like Impressions, views, clicks, and reach
- Metrics on the content you shared
- Audience statistics like gender, age, and engagement
Pricing
This service is completely free of charge. All you have to do is switch to a professional account.
Tracking Tool #3: Hootsuite Analytics
Source: Hootsuite
Hootsuite Analytics for Instagram is one of several products in the comprehensive dashboard provided by the social media marketing analytics business Hootsuite.
With the dashboard, you can see real-time information and visualizations, and the tool is excellent for managing Instagram as a team.
Features
Here are some of the features Hootsuite Analytics has:
- It allows Instagram marketers to publish, schedule, and analyze posts, number of likes and comments, followers’ growth, and decrease dynamics.
- It offers team collaboration capabilities.
Pricing
Hootsuite consists of 4 pricing plans, the last being a custom plan. All their pricing plans consist of a free 30-day trial. Here’s a list of datapine’s pricing plans:
- The solo plan which goes for $49 per month
- Hootsuite Teams plan, which goes for $129 per month
- The Agencies plan which costs $739 per month
- The custom plan demands that you contact Hootsuite to describe what best suits your agency.
Download a PPC report for Facebook + Instagram Ads
Track Your Instagram Ads KPIs with Porter
With porter analytics, you can get all the data you need from the Instagram Ads API. In other words, you’re free to use as many KPIs or indicators as you like to track the success of your campaign.
Using Google Data Studio, Porter Metrics developed an Instagram Ads performance dashboard. You can browse through pages and choose the metrics that are most relevant to you.
Benefits of Using Porter to Track Your Instagram Ads KPIs
The benefits of using Porter to track your Instagram Ads metrics are as follows:
- Ability to track your campaigns.
- 600+ KPIs and metrics to analyze your Instagram Ads data
- 80+ templates for every use case
- Visualize your Advertiser profile information.
- Downloadable custom reports
- Free template galleries
- 24/7 Customer support
- Familiar marketing tools
- No-code
- white-label Instagram Ads reports
With porter metrics, you also get multiple charts to visualize:
- Costs, impressions, and clicks.
- Gender and age by impressions.
- Campaign objective by cost per click, conversions, impressions, and clicks.
There is so much to discover and analyze with Porter Metrics’ Google Data Studio Connector. You should try this Instagram Ads Porter Connector.
FAQs
What are Instagram’s KPIs?
Instagram KPIs inform you how well a specific aspect of your campaign is doing by presenting a metric in the context of a specific goal. Your Instagram Ads KPIs will show you whether or not the content is meeting its predetermined goals and, if so, to what extent.
How Does Instagram Measure Reach?
Your content’s reach is determined by the number of people who have seen it. As opposed to Impressions, the post reach is one when a single user views the same post five times.
Like post impressions, post reach is often tracked in the same place in the analytics. Post reach is likely lower than impressions due to the distinctions we discussed earlier.
What Is The Best KPI for Instagram?
On Instagram, it’s unrealistic for one metric to be the most significant. Though, some metrics are generally more critical than others. Some of them include:
- Engagements per follower
- Follower growth
- Engagement Rate (Reach)
- Comments received by content
- Comment Rate
Top 5 Instagram Ads KPIs Metrics (summary)
In a nutshell, the Top 5 Instagram Ads KPIs Metrics include:
- Engagements per follower
- Follower growth
- Comments received by content
- Engagement Rate (Reach)
- Comment Rate
That’s all there is to it. If you want to make intelligent choices about how to enhance your ads’ results and performance, you’ll need a way to measure your Instagram ad campaign’s success.
As a no-code platform, free template galleries and familiar marketing tools are just some reasons you should begin your Instagram Ads KPIs tracking journey with Porter Metrics.
You can get started by choosing a template and creating a report. You can also schedule a call with the technical support team if you encounter any problems when making a report.
