Do you already know how to measure the ROI (return on investment) of your Instagram Stories with Google Analytics? Have you managed to detect if this tool helps you achieve the proposed goals according to the marketing plan?
Do you think that the time, effort, and money invested in creating the content that you upload to Instagram is worth it for its profitability?
In the following blog, we will discuss the topic ROI of your IG Stories with Google Analytics, to be aware if they are giving the expected results, or you should change the strategy.
Surely, you expect to get many conversions: Instagram is a fantastic social network to achieve it. But how to know its effectiveness in conversions?
What is ROI?
ROI allows us to determine the real return on our investment, whether in online advertising, banner campaigns, newsletter submissions, content writing for blogs, etc.
It is a real reference to measure whether it has been worth investing an amount of money in a specific campaign.
Why is it necessary to combine Instagram Insights and Google Analytics?
For those who are dedicated to social media marketing, it is necessary to be clear about the time and resources they invest in Instagram Stories, in addition to verifying if these publications are generating the planned results.
The social network has an analytical section where you can see relevant data and results such as the scope, engagement, and impressions of the publications, as well as additional information related to your audience.
All these data provide a lot of information about the effectiveness of the strategies and the contents in social networks, that is to say, the impact of your presence on the social network and the response to your publications can be measured but the action arrives there, because it is not possible to know what the user did click the link or a swipe up.
By using Instagram Insights, you can find out what the CTR (click-through rate) of your publications has been (the percentage of people who have visited the publication and clicked on the link).
This information is essential to realize if the post has been receptive and effective.
But do you have any idea what people did when they left your profile? Have they completed the purchase? Did they subscribe?
To know it, we must use Google Analytics. This tool allows us to see user activity when entering our website once you leave IG Stories.
The combination of Instagram Insights with Google Analytics gives you a broad view of your Stories, and you can effectively measure ROI.
To measure the scope and impact of your posts, you must use the insights from the social network and to measure the impact of your strategy, Google Analytics is used.
How to do it?
Analyze the performance of your Stories first with Instagram Insights.
Instagram Insights are statistics, you can see them directly in the app through your profile menu. This tool provides all the necessary information so that you have knowledge of the levels of user interaction with your Stories.
This information is valuable to monitor the engagement and scope obtained to assess or rethink the social media strategy. To know the statistics of Instagram Stories proceed in two ways:
Access statistics from your profile:
- Click on your profile menu button and select the «Statistics» option.
- Click on “Content” and then “Stories,” On this screen, you can check the latest Stories that you have uploaded with the number of impressions you have received.
If you want to modify the metric, click on “Impressions” and choose the KPI (key performance indicator) you want: progress, scope, answers, number of times shared, clicks on links, next story, previous…
You have the possibility to modify the number of days corresponding to the data.
Access the statistics from the same story you have published (whether active or not.)
By what has been observed before, you will have noticed that the statistics of the Stories from the profile does not provide many details about the effectiveness of them.
To get a more complete idea of how one has worked or is turning out on Instagram, enter it and follow these steps:
Swipe-up to access the statistics of this story and click on the icon on the left. There you can clearly see all the activities that the user has done on the particular story.
In the «Interactions» section, you can analyze data related to:
- Clicks on stickers.
- Profile visits.
In the «Suggestions» section, you can inquire about:
- Accounts reached.
- Navigation (back, next, next story, dropouts.)
To know the percentage of users who completed the Stories sequence, you must apply the following calculations:
Divide the total number of people who have viewed the last Story by the total number of people who have seen the first one, and multiply this figure by 100.
To exemplify the above, if 450 people watched your first one, but only 236 people watched your last one, the resulting percentage of completion is 52.4%. This percentage is low in relation to the expected. The idea is that the percentage is as high as possible: this means that the post has caught a lot of successful audiences.
Use Google Analytics to see what users have done once they have entered your landing page.
The time has come to analyze the impact of Stories on the general marketing strategy with Google Analytics.
To get started, log into your Google Analytics account, then:
- Open the menu.
- Click on “Acquisition,” and then “Social Media.”
In the «Overview» section, Google Analytics measures the general value of the references that your page receives from social networks; this is essential to measure the ROI.
However, this tool does not provide information about your expectations with your social networks, if you have not previously incorporated information about your goals. To do this, you must configure it in the administrator.
Once this step is finished, you will be able to see in the section “Social value,” the information on the objectives achieved thanks to the strategies of your social network profiles. If you open the “Conversions” menu integrated to “Social media,” you will see that you already have data there.
This option gives you an accurate view of social networks and their achievements based on the stipulated objectives.
How to know if an Instagram Story has achieved a conversion?
To determine if you have achieved a conversion, you must add the UTM (urchin traffic monitor) parameters in the links that you share in your Stories.
These codes are parameters that are included at the end of a URL so that you can see from Google Analytics the information about the channel and source from which the user has arrived at this landing.
In this way, you can know if the user who has converted has done so by clicking on your link that was in the profile, in the IG Story.
UTMs have 5 parameters that you can analyze:
To use these UTMs in a shared link in Instagram Story you can follow this strategy:
- Source: instagram.
- Medium: instagram_story.
- Name: promo_4_july.
- Content: landing_purchase.
You can place what you want in the parameters; the important thing is to be constant in all the URLs that you believe in having the analytics ordered.
The UTM parameters let you know which Story has given better results, but keep in mind that you should:
- Take an A / B test with a video story and a text-only story (you can add, for example, the TERM parameter with video and text).
- Offer an exclusive discount code for your followers (add discount_instagram_story as one of the parameters.)
- Test if the promos you communicate on Instagram Stories work better (convert more) one day of the week instead of another (add the date you publish as one of the parameters, for example in name or term).
To measure the results, that is, determine how many conversions you have achieved, you have to go to Google Analytics> Acquisition> Campaigns> All campaigns. Finally, you can see how your campaign is going in a single link.
Click on the name of the campaign you want to analyze to see the source / medium report. Then click on instagram / instagram_story.
With this information, you already know how many people have clicked on your link and how many people have converted.
So you can calculate the ROI of your Instagram Stories to be aware of the effectiveness of your strategies in this social network.
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