Instagram is proving to be one of the primary platforms for brands. With it's video and image editing functionality it allows and encourages creativity, something that brands such as Oreo and Starbucks continue to push the boundaries and set new standards for other brands.
Being creative and executing innovative ideas means nothing though, if you can't prove it's success. New platforms are merely toys these days without the Insights tools for brands to prove their success and secure future funding for creative social media campaigns. It took Facebook around 4 years to launch Facebook Insights, and Twitter around 6 years before they quietly rolled out Twitter Analytics. Now it's Instagram's turn. Over the next few months, they will be rolling out a set of new tools to help brands assess the effectiveness of their paid and organic content.
These tools will provide data for the following three areas:
This will show brands how effectively they are improving their brand awareness through reach, impressions and engagement.
Shows data on the performance of paid campaigns (reach, impressions and frequency) for each individual advert.
Allows brand teams to create, review and collaborate on ad creative for new campaigns.
These new updates will ensure that brands can access real-time insights on their campaign content and make live amends to optimise the performance. This feature is only currently available to existing Instagram advertisers, with a view to rolling out to other select brands in the coming months.
It is not clear yet as to whether this feature will be made available to the general public (non-advertisers on the platform), as per Twitter Analytics, but it will be interesting to see how brands use it to their advantage to improve the performance of their creative campaigns.
More info on the update can be found on the Instagram for Business Blog.