Analytics Cheat Sheet
DATE: OCTOBER 5TH 2023
TIME: 4 MINUTE READ
SUBJECT: SOCIAL MEDIA
We recently did an Instagram poll and learned that almost 90% of you do not have time to look into your account analytics on Instagram every month. We understand though, ‘cause 1 — You are running a business… who has time to look into your account numbers when there are a million other things that need to be done. And 2 — It can be daunting if you don’t know what you should be looking for.
Looking into your analytics every month can help you when planning your next month out. Whether that's by optimizing your strategy based off new findings, identifying new opportunities and ways that failed last time, and measure your ROI (return of investment – even if that is your time, time is money ✨🤑)
That is why we wanted to take some weight off your shoulders and make a little ‘cheat sheet’ you can refer to when you dive into your analytics each month to make it only a 5 minute adventure. With that being said, there are tons of goals businesses can have on IG, but we are going to talk about the main 6 goals we see from our clients.
Increasing brand awareness
Sales
Interacting with your Ideal clients
Website click/Communication with your clients
Growing a following
Generating leads
In this blog we will ONLY be looking to use Meta analytics to get the information you need. No need to purchase analytic subscription readers for this, we want to keep it cheap and easy for our fellow small business owners!
With that being said… let’s jump into the ‘Cheat Sheet’ portion of this blog – goals and their corresponding analytics!
IF BRAND AWARENESS IS YOUR GOAL?
WE WOULD FOCUS ON:
Reach
Impressions
Engagement Rate
Wanting to increase your brand’s awareness is all about how many people are putting their eyes on your content. Beyond that, it’s about how many of those people actually follow-through and engage with your content. So, we can look to reach, impressions, and engagement rate when we want to focus on brand awareness.
IF SALES IS YOUR GOAL?
WE WOULD FOCUS ON:
Click-Thru-Rate (CTR) * to do this take the number of clicks for a particular link and divide it by the number of people who viewed the post *
If sales are your go-to goal, that means getting eyes on your account doesn't matter if the clicks to the website are 0. In order to sell on Instagram, you need to be looking at the amount of website clicks that each post is generating. Although Instagram doesn't have a specific area for CTR analytics, we can do our own calculations and determine this number.
IF INTERACTING WITH YOUR IDEAL CLIENTS IS YOUR GOAL?
WE WOULD FOCUS ON:
Engagement Rate
Comments/DM’s
Engaged Demographics
Measuring your ideal clients goes to understanding, one, who they are, and two, what do they want to see? You will learn this by checking on your engagement rate (ie. comments, and DM’s) and seeing if the people who are responding to your posts are who you envisioned as your ideal clients. If not, then it may be time to change up some post ideas. Along with this, seeing your engaged demographics and how they match up with your ideal clients is a great way to determine if that group is getting reached.
IF WEBSITE CLICKS/COMMUNICATION W/ CLIENTS IS YOUR GOAL?
WE WOULD FOCUS ON:
Click-Thru Rate (CTR)
*to do this take the number of clicks for a particular link and divide it by the number of people who viewed the post *Comments/ DM’s
Website clicks and communication with your clients is all about getting traction over to your website that (hopefully always leads to sales ;) ), but if your IG goals are to get traction to that site, checking CTR’s and looking at how many clicks per website are on each post is the best way to measure that. Along with being aware of comments and direct messages and leading back those conversations to your website.
IF GROWING A BIG FOLLOWING IS YOUR GOAL?
WE WOULD FOCUS ON:
Follower Growth Rate
Engagement Rate
Hashtag Performance
If you are just here to get that following up, good for you! Because that can be a daunting task! But, as long as you know what to look for in your analytics, you will be golden. Obviously, if this is your goal, you know to look at the following… no brainer! But there are a couple of other factors that can help determine the speed of growth you are obtaining. For example, Engagement rate is a great way to measure growth. A good rule of thumb is if you are gaining followers, you should be gaining likes and comments with it. If you are seeing a gradual growth in engagement you are on the right track. Along with engagement, we have hashtag performance. Checking to see if people found your post based on hashtags is a great way to see if your content is getting ‘out there’ and reaching more people on the explore page. More people's eyes on your posts, even if it's via hashtags, will usually lead to more followers.
IF GENERATING LEADS IS YOUR GOAL?
WE WOULD FOCUS ON:
Click-Thru Rate (CTR)
* to do this take the number of clicks for a particular link and divide it by the number of people who viewed the post *
Engagement Rate
Generating leads!!!! What every small business really wants! DUH. If generating leads is your main goal, that means you're wanting to measure how many people are clicking through your website, on your profile, saving posts, sending posts, etc. The more eyes on your content can lead to more leads. BUT a crucial part of generating leads is responding to comments and engagement on your feed. If you are getting comments, but not responding to them, you are losing potential leads, trust us. Measuring your engagement on posts and CTR can be a helpful way to stay up to date on people interested in your business.
Obviously, depending on your goals for your account, your analytics will be different. But
We recommend having 2-3 goals for your account, allowing you to measure success from multiple angles. This approach ensures you don't get fixated on just a few numbers each month.
Hopefully, this eases your mind and you are not scared to jump into your analytics. You now have the power and knowledge to check on your analytics without wasting tons of time, shedding tears of confusion and shaking in your boots.
We believe in you and are here for any lingering questions you may have.
You got this, small business owner!
XO, M+M
DICTIONARY:
Click-thru rate (ctr):
CTR measures the number of clicks on the link in your bio or in your Instagram posts that lead to your lead generation landing page. By tracking your CTR, you can determine which content and calls-to-action are most effective in driving leads to your landing page.
Comments / dm’s:
Reviewing all comments on your posts + taking a mini dive into each profile to better understand who is interacting with you. Also DM’s and keeping up on those and reviewing every month who has been in your inbox.
Engagement rate:
Engagement rate measures the level of interaction between your followers and your content. By tracking your engagement rate, you can determine how well your content is resonating with your audience and adjust your strategy to better meet their needs.
Follower demographics:
Understanding the demographics of your followers, including age, gender, location, and interests, can help you create content that resonates with your ideal clients and build a more engaged and loyal following.
Follower growth rate:
Tracking the growth of your follower base can be a good indicator of your brand's overall visibility on the platform. A steady increase in followers over time indicates that your content is resonating with your target audience and that they are interested in your brand.
Hashtag performance:
Hashtags are a powerful tool for reaching new audiences on Instagram. Tracking the performance of your branded and industry-specific hashtags can help you determine which ones are most effective in driving engagement and reaching your ideal clients.
Impressions:
Impressions measure the total number of times your content has been viewed. This includes multiple views by the same user, so it may not give you a true picture of your reach, but it can help you gauge how many times your brand is being seen.
Reach:
This metric measures the number of unique users who have seen your content. It can give you an idea of how far your message is spreading and how many people are being exposed to your brand.