Social Media Monthly
by Jackson Phipps
Breaking: This month in social media we cover the upcoming addition of analytics to Instagram and Facebook updates. Read on to learn more about what’s new in the world of social.
Read Time: 2 minutes, 20 seconds
At a Glance
- As we proceed into the heart of the holiday season, businesses of all sizes and industries are focused on making a year-end marketing push to capitalize on the busiest month in retail. Instagram is making it easier than ever for businesses to promote news and deals by rolling out an ad format that will work similarly to Facebook’s Boost option.
- While Facebook’s analytics platform is effective in providing comprehensive campaign information, Instagram has lagged behind – until now. Facebook, who owns the photo-sharing app, announced it will be rolling out Instagram account analytics that will give marketers more data than what is currently available on Instagram Insights.
While some marketers prefer getting in the weeds and exploring all the targeting, budgeting, and scheduling options available, there’s something to be said for easy ways to spread awareness. Instagram will soon be implementing a boost feature that allows businesses to put money behind their posts. This will provide a low-cost, effective option for SMBs who are looking to ease their way into the world of digital marketing without risking major marketing dollars. In addition to posts, businesses will be able to promote stories, including ones that include a link to the business’s profile or website, to a targeted audience by location or by using the full set of ad targeting options that Instagram provides.
With the new marketing options rolling out, the importance of measuring data accurately and effectively is at a premium. Facebook is in the process of introducing two new additions to its analytics suite. Instagram analytics and advanced analytics for Facebook pages will be rolling out over the course of the next few months and will be available through the Facebook Analytics dashboard, a familiar place for many advertisers. While Instagram offers some surface-level data already, the new account analytics will give users more comprehensive data. There will be more detailed and highly valuable engagement metrics such as retention rates and a lifetime value metric attributed to users who interact with your content. Additionally, the platform will also give marketers the ability to create segments around engaged audiences and see the overlap among users who have downloaded a brand’s app, visited its website, or engaged with content on its Facebook page. This should mean more accurate targeting and a more engaged audience across Instagram and Facebook in 2019.
As businesses and agencies work to prepare strategies for the holidays and beyond, we can use the latest news from Facebook as an indication that the industry is demanding higher quality data sets. Moving forward, as advertisers become armed with the most relevant information about their audience, we should see energy focused on delivering the right content to a more targeted group, resulting in a mutually beneficial relationship between brand, platform, and consumer.