Facebook’s analytics suite will be gaining two new features over the coming months, both of which are currently in the beta site. Both of these will be accessible via the Facebook Analytics dashboard.
Currently, Instagram Insights are available to show how users engage with branded content. The new feature will delve deeper to include information not included in Insights, such as:
- Improved engagement metrics, including retention rates and lifetime value of users who interact with your Instagram content
- Segment creation of engaged audiences to see where they overlap, enabling you to improve targeting
This is an important update for Instagram as it has hit over one billion users and become a key platform for brands. These analytics tools can help these brands to understand how their content is contributing towards their objectives and to generate more revenue.
Facebook Page Analytics
Facebook is also getting access to new analytics metrics. These include:
- More valuable events (actions people take on your page), including Post Impression, Page follow/unfollow, Page like/unlike, and more
- Create new audience segments by combining this with the data that is already available
- Improved ability to track conversions and the path to purchase, and compare audience demographics by channel and activity
Facebook’s aims with this update is to show businesses exactly how their purchasing funnel is working in order to increase confidence in the platform as a revenue stream and to encourage more investment.
These betas will be rolling out in the next couple of months, so keep an eye out for them. You will be notified on your Facebook Analytics dashboard and receive an email alert when your data becomes available.
If you don’t use Facebook Analytics yet, request access and familiarise yourself with your dashboard in the meantime. If you have a Facebook pixel you’ll be able to see data in there.