Measuring Instagram Results for Business
Let's finish where we started last week. We were talking about social media, we were talking about Instagram, we were talking about the proper use of it, and maybe sometimes improper use of it.
Well, I wanna wrap up with the discussion I had with Michael last week on business strategy with Instagram. And last week, we talked about tactics and strategy and execution. And hopefully we don't have to rehash that. If you wanna go back and listen to the first part of that conversation it's up on the WFN1.com website. I wanna talk... I wanna wrap it up now this week and talk about how do you measure the impact of what you're doing, 'cause obviously if we're up there, we're online, we're kicking around a bunch of dust online, you're paying people to do this stuff. At the end of the day, especially with my own site, even with marketing, especially with marketing, you've got to have a way to measure the results of what you're doing so you know if you're doing the right thing, if it's actually benefiting the business and pushing in the right direction.
But could they do it themselves? Or do they need an expert like you to help them monitor the impact of it?
Yeah, yeah. I would say you want someone dedicated that can learn it. None of this stuff, I hate to say this, you can do half of all your social media stuff for business without having somebody who is, quote unquote, an expert. I mean, if you're doing nothing now or if you're doing a poor job at what you're doing now, just having someone dedicated to it, that's passionate about it, that cares about what they're looking at, is gonna be a step in the right direction. I would love everybody to have access to an expert, of course. Right?
So I would say at least if you've got someone who is moving in a targeted direction and they understand the basics of marketing, 'cause a lot of stuff that we're doing online, it's not new from the standpoint of the same advertising and marketing we've been doing for decades, it's just we've got a different platform to do it. It's not TV, and radio, and billboards anymore, or it's still some of that. But even back in the day when you had print advertising and stuff like that, you still wanna have some kind of a metric about what the results were. If you had to sell, was like getting a bunch of leads from this magazine or from this TV show or whatever. So, on Instagram, in particular, the first thing I wanna mention, and this is pretty new for us, is in the recent past, it was fairly difficult to get stats out of Instagram. It was kind of a black box. You'd go in there...
I would... Their position would be, and it's the same position that Snapchat's in today, is that as soon as you start turning a platform like that over into a platform where folks who care about statistics want more and more analytics out of it, it loses it's flavor of the week for the folks that use it. So, you've got this conflict between folks go to an Instagram or go to a Snapchat or some of these other applications. In the first days of Facebook they'd go there and Twitter, because that's where they could go and just be themselves and socialize. As soon as people like me get in there and start messing it up and start shoving ads in front of their faces, then it's not fun anymore. And as marketers we've gotta be mature enough to kinda look at the wasteland of all the Myspace's, and the AOLs, and the Dogsters, and whatever the previous generation of social media accounts or platforms and own the fact that we ruined a lot of that stuff because we're marketers and that's what we do. So, we've got to be sensitive to coming up with marketing and advertising plans that consumers actually want to consume, number one.
So what we just described was the ability to make the thing cool and in and popular in lieu of actually having it work before you actually start looking at, we mentioned the analytics.
That's really what we're talking about. It's gotta be cool. People have to wanna use the platform. You have to create migration, you have to create adoption in lieu of just having a pure ad platform.
Revenue. Yeah, in lieu of revenue. And that's why you get a lot of this hocus-pocus with tech startups because they'll sit there and they'll burn through hundreds of thousands of dollars in cash, promising a pot of gold at the end of the rainbow. And they're always talking about, it's about attention. It's about eyeballs and all that kinda stuff. And you're hoping at the end of the day, that once you get that targeted audience and the audience is one that you wanna get access to, you can start integrating in, into it, either advertising or some kind of a revenue stream that's not gonna chase them all the way to the next thing. It's pretty hard to find those. Facebook is one that has been able to fairly, successfully do it. But, their younger audience has completely plateaued. Their younger audience is not growing anymore. Let me get really quickly...
Their younger audience is not growing?
No, it's not. I mean, they're getting... They're having birthdays, but the size of the audience is not growing. [chuckle] Okay? Was that clear for you? [chuckle] Okay, they're still having birthdays.
I guess it was, I...
This is not Benjamin Buttons. [chuckle]
Yeah, I was thinking, "Wow, man." That just kinda caught me off guard.
It's stunted. Yeah, it's stunted growth biologically. Yeah. Before I have to jump into next week on Instagram analytics, I don't know how much time I've got left, but let's try to hop in on some of these so that it's not a completely wasted segment. So, the big three things I'm looking for on Instagram that I can actually measure for a client are, number one, attention. You can look and see how many people view your content, how many people view your videos. That is a decent measurement of how interested people are in your content because stuff is gonna flow through their news feed fairly quickly if that first thing that they see, that first glimmer of kind of an image or a video that they see grabs their attention, and they click on it and do something, that's indicative of having content that is going to be well received by your audience. And if you don't have that, you don't get anything else after this. So first of all we're looking for attention. It's not an end goal, it's not gonna convert anything necessarily but it has to be there for you to get to the conversion.
Number two is gonna be, the next level, is gonna be engagement. Are people liking your stuff? Surely are they commenting on your stuff? And most importantly, are they sharing their stuff with friends? Again, a share and comment or a like, and this is the frustration with business owners and I totally get it, a share, a comment and a like do not put money in the bank for you. But if you don't have those, you're not gonna get to a point where you can get a conversion. If you're building a house, the plumbing and electricities doesn't cover your head and keep you warm necessarily, but if you don't have plumbing and electricity you're missing an integral part of a home that makes it comfortable and makes you wanna live in it. So, we have to grow from attention into engagement and then we have to move into action. The last and the most important part in the unicorn, especially in Instagram marketing is, once I've got people commenting and liking and sharing our content, can I then move them to action? Can I have them show up to a live event? Can I have them click on a link up in my bio to go and take advantage of a coupon, sign up for a newsletter, download a white paper or, oh my gosh, purchase something? Wouldn't that be nuts?
We could have you do that. You can actually buy something.
To actually have a social media account where somebody ends up at a sales funnel by pulling out a credit card, that's the main goal. But you don't jump from launching account to making sales. And so the challenge that you have as a business is taking the steps up this ladder to get to that point where you're converting and you don't get there unless you're measuring stuff. And on Instagram, it's much, much more limited than it is on other social media sites, but if you're paying attention to attention, like shares and comments, if those things are in line, then you should be able to mature and move on to the next phase which is how do we now convert these folks and help us pay for the parts and services that we have to offer them.
Exactly. Well, Giovanni, we have about 30 seconds or so left here. You mentioned something we've argued about before. Again, how do you get people to understand the long form that's associated with this and get them to be willing to take that step to do the long form to do it?
Yeah, I will tell you that in almost every situation, I don't have an answer you want. In almost every situation, I have a CEO or a C-level executive who's the champion of what I do for them that already has that mindset. They are someone that thinks about business in the medium and long term, anytime someone comes to me and wants to do viral, I just have to beg out because I am just like, "I don't create unicorns. I'm a slow and steady, wins the race kind of a marketer."