Facebook has launched a beta version to bolster its own site analytics capabilities. It has also rolled out Instagram analytics for marketers to test their ad efficacy. The phase-wise rollout will span many weeks and would be visible on the Facebook analytics dashboard.
Let’s take a look at what are the new features introduced with these two updates.
1 – Advanced analytics (Facebook Pages)
The current analytics concentrated on individual posts that were seen or acted upon by the users. However, the new features seek to go beyond post-level analytics and dig deeper into insights. The beta phase analytics page is designed to provide a broader level of data into KPIs including the different actions taken by users on the page.
Some of these actions consist of Post Impression, Page follow/unfollow, Page like/unlike, among others. By capturing these valuable events, marketers get a complete picture of what users did after they landed on the particular page. This empowers the page admin and allows decision makers to get richer insights.
The admins can now utilise the new analytics and blend it with the already existing data on the dashboard to carry out a lot of actions. These include the ability to build new audience segments, monitor the conversions happening from the page, and track the path followed in the buyer journey. The blend of new analytics with the existing dashboard can also help compare audience demographics by factors like activity and channel.
2 – Instagram analytics
Instagram analytics is a more significant improvement over the existing Instagram Insights. This gives a broader picture of how the users interact with a brand. Want to see how the new Instagram analytics is a step ahead of the existing analytics/insight reporting? Check out these two new instances that show the immense value add made by Instagram account analytics
- The marketers can track far more number of metrics needed to gauge the efficacy of the Instagram ad campaign. Some of the essential KPIs tracked include retention rates and lifetime value (LTV). Users who interact with your brand ads and content will be a part of the analytics reports.
- The admins will also be able to build new audience segments to target them better. Admins can also check out the overlap among users who have utilised various channels to interact with Instagram. These may include app installs, social media visits, or website visits.
What do these updates mean?
These updates denote Facebook’s attempt to help the marketers track their ad campaigns better. The social media giant also wants advertisers to use native tools within the analytics ecosystem in order to measure the value provided by the ads served on the social media platform. With 80% of Instagram users following a brand, it is the perfect time for Facebook to integrate high-performance analytics on the platform.
It will be some time before we see how the new features on Facebook analytics and Instagram analytics shape up the campaign efficacy of marketers. But the new additions do look to be a step in the right direction.