Advertising on Instagram can be a great way to reach new customers and grow your business. But how do you know if your Instagram ads are working? In this blog post, we’ll share tips on measuring your Instagram advertising results so you can make sure you’re getting the most bang for your buck.
Check Your Engagement Rate
One of the best ways to measure your Instagram advertising results is to look at your engagement rate. Your engagement rate is the percentage of people who see your ad and take action, such as clicking on a link or liking, commenting, or sharing your post. To calculate your engagement rate, take the number of people who engaged with your ad and divide it by the number of people who saw it.
For example, 100 people saw your ad, and 10 liked it. Your engagement rate would be 10%. To get an accurate measure of your engagement rate, ensure you’re only looking at ads that have been running for at least a week. This will give you a good idea of how well your ad performs over time.
Compare Your Click-Through Rate (CTR)
Another metric you can use to measure your Instagram advertising results is your click-through rate (CTR). CTR measures the percentage of people who see your ad and click on a link. To calculate your CTR, take the number of clicks on your ad divided by the number of impressions (times your ad was shown).
For example, say 1000 people saw your ad, and 50 people clicked on a link in the ad. Your CTR would be 5%. A high CTR indicates that people are interested in your offering and are more likely to purchase from you. A low CTR could mean that your ad is irrelevant to its audience or not well-designed.
Look at Your Conversion Rate
In addition to CTR, another important metric to look at is conversion rate. Conversion rate measures the percentage of people who see your ad and take action, such as making a purchase or signing up for a newsletter. To calculate your conversion rate, take the number of conversions (actions taken) divided by the number of impressions (times shown). For example, if 100 people see your ad and 5 people purchase something from your website, your conversion rate would be 5%. A high conversion rate means that people respond positively to your ad and are more likely to become customers or clients.
Use Google Analytics to Measure your Instagram Advertising
If you’re running ads to drive traffic to your website, you should also use Google Analytics to track results. Google Analytics is a free tool that allows you to see how much traffic your website receives from different sources, including social media sites like Instagram. Once you’ve set up Google Analytics tracking for your website, you’ll be able to see how many website visitors come from each of your ads and what actions they take once they’re on your site. This information can be precious in determining which ads are performing well and which need to be tweaked or scrapped altogether.
Talk to Your Customers
Last but not least, don’t forget to talk to YOUR CUSTOMERS! They are the best information source for understanding whether or not an advertisement successfully achieves its goal. Ask them how they found out about you and what made them purchase from you instead of another company offering similar products or services. Their feedback will give you valuable insights into whether or not Instagram advertising is working for YOUR business specifically.
These are just a few ways to measure whether Instagram advertising is working for YOUR business specifically. Doing this gives you a better idea of whether to continue investing in Instagram ads.
If you don’t have the time (or interest) to create and run Instagram or Facebook ads that will increase your brand’s awareness, think about working with a digital marketing agency! Preferably, one with lots of experience building brand awareness and increasing sales through running digital ads that match the brand of companies in your industry–not every advertising agency or website developer will have this expertise, so it’s essential to do your homework!
Send us a message today to see how the Pink Shark Marketing team can help you set up successful Instagram Advertising, Facebook Advertising, and even Google Advertising campaigns specifically tailored to your target customer in any industry or locale. We also offer services for building a Shopify website, increasing brand awareness online, and more!