Instagram has plenty of great benefits it provides companies that are trying to grow and achieve success in their marketing efforts.
There are several incorporated features inside the Instagram ad platform that allow companies to create strong campaigns, reach their consumers, track the performance of their promotional efforts, and generate insights.
However, one of the most important elements of marketing campaigns on Instagram is the performance metrics that companies choose to keep track of, as well as the insights they generate.
ROI Report
One of the most important metrics that companies have to keep track of for their marketing campaigns is the return on investment (ROI), which shows whether the investments that a business has been making in a promotional campaign are achieving its desired levels of success.
With the help of an ROI report, businesses can learn whether their ads are generating the right results, such as increasing sales, so they can optimize the ads that aren’t yet delivering the right performance.
There are several digital tools that companies can integrate with their Instagram ad campaigns that can help them track various performance metrics such as cost per result, adds to cart, purchases or cost per purchase, the amount spent, and many others.
By understanding all the different metrics available, companies can get a better sense of where potential consumers are at in their buying journey, how that journey is progressing, and even whether potential consumers are facing obstacles that motivate them to end or pause their buying journey.
Leads Generation Report
Although an ROI report is a great way for companies to keep track of their bottom lines, with a leads generation report companies can also keep track of the middle points of the buying journey.
That’s why businesses that use Instagram as part of their lead generation campaigns can benefit from this type of report. Lead generation reports help companies better understand the way potential customers are interacting with their websites and ad campaigns, and even whether they’re completing any micro transactions before they become customers.
Some of the essential metrics for lead generation reports that companies should be keeping an eye on include link clicks, CPC, CTR, leads completed, cost per lead, initiated checkouts, and conversion values.
With those metrics, companies can determine whether consumers are successfully starting or progressing through the buying journey, and optimize the journey for better results. To do that, they can create more lead generation campaigns or retargeting campaigns, or create different ad placements on the platform.
