This August, Instagram announced a new suite of business tools for effective brand marketing. As per their announcement, these tools will help brands better understand the performance of their paid and organic content on the popular photo sharing site. If the brands have more insight into how people engage with or respond to their photos and videos, they can develop more creative ideas to increase their brand awareness and reach.
The official blog post says that the tools provide value to brands in primarily three areas such as:
- Account Insights – This enables businesses to understand how they are increasing brand awareness on Instagram through impressions, reach and engagement.
- Ad Insights – It shows the performance of paid campaigns with brand analytics including impressions, reach, frequency, likes and comments for each individual ad delivered to the targeted audience.
- Ad Staging – This allows brand advertisers and their creative teams to preview, save and collaborate on ad creative for upcoming campaigns.
These new tools will not only help brand marketers monitor their posts and campaigns, but also enable them to better understand the best time of day when a photo or video can be posted on Instagram for effective marketing. The company also says they have worked closely with their advertising partners to ensure that the tools meet their needs. These tools are being made available to all Instagram advertisers so that their feedbacks will help to improve the product before rolling it out to additional brands later this year.
In the opinion of industry experts, the following are the major takeaways for brand marketers from this announcement.
- Though the brands have been using Instagram for social media marketing (SMM), they are having difficulty in creating campaigns, managing campaigns and measuring results. Marketers will soon have business tools, similar to Facebook Insights that track brand analytics, which will make this site a powerful platform for SMM with an effective Instagram marketing strategy.
- According to a 2014 Forrester study, the Instagram posts of top brands generated a per-follower engagement rate of 4.21% compared to Facebook (.07%) and Twitter (.03%). This means Instagram already has a high engagement rate among brands and with the new tools marketers can increase this rate.
- The brand analytics with new tools will help marketers create visual content that appeal to the audience more and thereby ensure improved visual marketing.