Module 6

ANALYTICS
INSTAGRAM ANALYTICS

Congratulations on successfully setting up and operating the content engine

and ensuring a consistent upload of high-quality content on Instagram.
However, the process does not conclude here. After uploading content, it
becomes crucial to track its performance to gauge viewer responses. Analyzing
data from previous content not only aids in understanding viewer reactions but
also generates ideas for future content. This module provides insights into the
types of data to examine, when to do so, and where to find it.

Role of Instagram Data & Analytics

Instagram data and analytics is crucial to evaluate the performance of your

account, understand your audience and optimise content strategy and
monetisation.

Helps you understand audience behaviours and preferences and what they
like or dislike.

Helps in defining and measuring success. For example, data helps you
decide what works if you create content in 2 different niches or experiment
with different formats in the same niche.

Helps you take the right decisions with respect to content strategy.
Key Metrics To Track on Instagram -

Reach: Reach refers to the number of unique accounts that have seen
your content.

Likes: Likes refers to the number of unique accounts that have liked
your content.

Comments: Comments refer to the number of comments by an

individual account.

Shares: Shares refers to the number of shares by an individual account.

Saves: Saves refers to how often a unique account saves your content
for future consumption.

Sum of engagement: Sum of Engagement measures the total level of

interaction your content receives from your audience.
Sum of Engagement = Likes + Comments + Shares + Saves

Engagement to Reach (EtR) ratio: EtR refers to the sum of engagement

per hundred unique accounts reached on Instagram.
EtR = (Sum of Engagement / Reach)*100

Subscribers to Reach (StR) ratio: StR refers to the number of followers

gained per hundred unique accounts reached on Instagram.
StR = (Number of followers gained (say on a given post) / Reach
(on the post)) *100

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How to Analyse?

Why is tracking Instagram metrics important?

Helps you validate content decisions.

Helps you improve your content strategy.

Helps you assume a hypothesis and experiment to validate your

hypothesis. Double down on things that work while eliminating or
reducing those that don’t.

How to correlate these metrics and reach?

The correlation coefficient (‘r’) defines the strength between one metric
(independent variable) to another (dependent variable).

Ranges between -1 (no correlation) to +1 (strong correlation)

Define your North Star Metric (for Brand Warikoo, it’s “reach”) and
optimise.

The North Star Metric is a key performance indicator that serves as a

primary measure of success for a business

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The CORREL function returns the correlation coefficient of two cell ranges
(or metrics)

CORREL (array1, array2)

The CORREL function syntax has the following arguments:

array1 Required. A range of cell values.

array2 Required. A second range of cell values.

Let’s understand this using an example:

Here is an Excel sheet of the 24-hour performance of 40 reels from the

Warikoo Instagram channel. Here are the steps to follow to analyze the data:

Figure 1: Instagram 24-Hour Data

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Using the correl function in Excel, for Figure 1, we find the correlation
between the likes and followers for 10 data sets.

We arrive at 0.83, which is close to +1 on a scale of -1 to +1; this means

that there is a solid correlation between likes and reach.

Likes and reach are directly proportional; that is, when likes increase,
reach increases.

In row 684, we see a reach of 336,451 for a quote poster with just 70
comments.

Thus, we conclude that likes and shares should be our primary focus,
followed by saves and comments.

High shares mean your content is shareable, and more people share so
others watch.

High saves mean your content is valuable enough to be saved for future
reference.

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Choosing the right engagement metric to prioritise-

There is a relatively high level of certainty that the coefficient of correlation

for the Instagram algorithm is more or less the same.
In the order of priority, likes are most important, then shares, saves and
comments.

“Like for more such videos”

“Send this to someone who needs to see this”
“Save this for the future”

Where to extract these metrics from?

Instagram backed on your phone.

In the above figure: click on “view insights” right above the like button after
24 hours of going LIVE.

All metrics you need are visible here. The reach is 181,080, likes are 5576,
shares 527, saves 769 and comments 61.

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As you see in Figure 1,
this is done for every single post after 24 hours.

Figure 2: 24-Hour Instagram Data & Takeaways

Now, let’s understand why this is important.

Weekly Data Collection & Analysis Summary

Helps us understand changes, if any.

Make amends to what’s working and do more of that.
The content curation process remains fresh and data-backed while
being authentic.

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Tools we use at Brand Warikoo -

Instagram Studio: As per Figure 2 and Figure 3, we extract data from

insights section below the post after 24 hours of going LIVE.

[Link]: Helps to extract metrics from Instagram. With $20 per month
as a subscription fee, it provides insights and data, monitors
engagement and measures audience growth.

In above figure, we see the [Link] dashboard that helps us:

Collect data without having to collect data manually.

Change data as per the dates chosen.
Download data via CSV file.

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What to track?

Reels:

All metrics we have discussed.

Followers conversions: Tracking audience growth per reel allows us to
understand what type of reel content converts maximum audiences into
followers.
Example: A finance creator can talk about the “power of compounding” or “rate of
return of nifty fifty stocks against inflation”
We recommend sharing generic content on reels that appeal to a larger audience
since reels increase reach, and a generic topic may help conversions.
After you gather your niche, use static posts to share knowledge about specific
topics.

Static Posts:

All metrics we have discussed.

Example: Recently, we have started sharing many personal posts from Ankur’s
life via static posts.

What do you think is the reason?

The motive is to ensure you’re personalising this content to reflect YOU.
These are people that follow you for YOU. You’ve got to give them more about
yourself since they are the audience interested in you.

To conclude, reels reach non-followers more than followers, and static posts
(images and videos) reach more followers than non-followers.
Thus, the conclusive way to grow on Instagram is to post reels and to engage
with the audience is to share static posts via images, carousels and videos to
your current followers.
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GROWING ON INSTAGRAM

There are two ways of growing on Instagram:

Organic Approach: This is a slow approach where you post reels for reach,
static posts and stories for engagement.

In-organic Approach: This is a fast approach where you post regularly, but
you boost the posts by paying money and sharing the content formats
(reels, posts and stories) regularly to reach new and engage older
audiences.

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Process for Organic Reach

Reels every day for non-follower reach and follower conversion.

Posts (1) per day and stories (3-5) daily for engagement.
Collaboration with other creators, ideally in the same niche and follower
size.
Measure data to see which reels/posts are working better. Do more of
these.

Process for In-Organic Reach

Post reels every day for 3 months.

Pick the top-performing reel and boost it. You could also consider
converting it into a post/carousel and boosting that.
Select your target audience and boost the post with a maximum spend
of INR 100/day.
Do it for 6 weeks while continuing to post reels every day.
After 6 weeks, calculate spend/follower - should be between INR 1-2 per
follower. If this doesn’t happen, run the ad a bit longer or change your
target audience.
Select another best-performing post, and boost it by defining the
audience as automatic (not default).
And then let it run for forever.
If a new reel performs better than this one, change the ad to that.
Increase budget slowly (by Rs. 50/day) until comfortable

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How to boost posts?

Step 1: Click on “Boost post”

Step 2: Click on “More profile visits” since you want

to increase your reach.

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Step 3: Click on “Create your own” since you understand your target
audience, and you must specify that to train Instagram to reach people who
are your preferred audience.

Step 4: Specify your audience's interests, location and demography

that matches your target audience.

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Step 5: Set your daily budget (no more than INR 100) and set
it to “run this ad until I pause it”.

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MEET OUR GUEST: NEERU SONI

What changed after success on Instagram?

With regular content, the number of followers and engagement,

a trust factor builds almost automatically. This has enabled Neeru to charge
a comfortable price, without compromising on quality for her
music students.

How much is your ad spend per month and what is the follower
gain?

Neeru spends INR 5,000 per month on ads and gains 10,000 followers per
month, both via inorganic and organic reach.

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What would you advise new creators against?

Once you start posting, you have to post consistently while maintaining
quality content. Instagram is a trust engine, you cannot dilute your image by
being inconsistent and unreliable.

Few takeaways from Neeru:

Perform reels/posts that stand for your channel’s identity and will attract the
right target audience.
-Make sure your reels are high quality with good audio.

To summarize, Instagram data and analytics are crucial to evaluate the

performance of your account and understand your audience to make data-
driven content decisions to optimise for reach and follower conversion.

KEEP CREATING!

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