There are changes afoot at Facebook, folks, but this time the news is all good! The social media giant is making it easier for you to fine tune your social marketing strategy, whether your focus is Facebook or Instagram, or both.
Measuring Your Social Marketing Strategy
As you know, we preach solid social marketing strategy measurement to the high heavens. And if you’re working with an agency that isn’t measuring your results—or if your internal teams aren’t doing so—you need to change that, like, yesterday.
We are literally swimming in a sea of data points today. Customers are savvier than ever, and expect top-notch brand interaction. There are approximately 95 million businesses active on Instagram and Facebook combined, and consumers are engaged.
Instagram alone is literally heaving with brand-friendly users. According to the photo sharing app, 80 percent of them actively use the app to connect with brands. And, this year Instagram hit a billion active monthly users! That’s equates to roughly 800 million users following at least one brand!
It doesn’t take a genius to realize how important it is to drill down and determine whether the efforts you are putting forth (and money you are spending!), are actually driving business growth.
The days of follower counts or likes and shares being the measuring stick are long gone. Gone also is the practice of throwing ideas at the wall and seeing what sticks. Even the smallest companies can benefit from a well-measured social media strategy.
Tweak Your Social Marketing Strategy With Improved Facebook and Instagram Analytics
These new additions will help your Instagram social marketing strategy measurement in the following ways:
- Discover whether people who comment on or like Instagram posts have higher retention rates.
- Compare the lifetime value of people who interact with your Instagram account to those who don’t.
- Create segments: e.g., all the people who commented on one of your posts—and analyze the value they bring to your business.
- Understand how your Instagram audience overlaps with the people downloading your app, visiting your website, or engaging with your Facebook Page.
Speaking of Facebook, the changes to Facebook Page analytics are just as robust.
According to Facebook, “…advanced Page analytics give you a broader view of the impact of your Page by including more valuable events (defined as actions people take on your Page), including Post Impression, Page follow/unfollow, Page like/unlike, and more…That means you can create new audience segments of people who engage in certain ways, track funnel conversion from social engagement to purchase, compare audience demographics by channel and activity, and more.”
Not Sure If You Have Access?
If you’re already using the Facebook Analytics dashboard, you’ll get an email in the coming months letting you know when these changes are available to you. They are still in beta, so much testing is still ongoing.
Not using Facebook analytics yet? Click here for the “how tos” of getting set up, then give these new measurement tactics a try.
Your social media content is definitely having an impact. But is its impact aligning with your social marketing strategy and projected business goals? That is the question all business owners should want measured, and answered.