December 14, 2023
If you thought you didn’t need to add anymore work to your busy schedule, you’d be wrong! Instagram Reels have become a powerful tool for realtors to charm their audience, showcase properties, and nurture audience engagement.
To effectively grow with social media, understanding key metrics are essential. Which is why you’re here! My goal is to provide you with a trusted compass, guiding realtors through the intricacies of tracking reels key performance indicators (or KPIs) like engagement, reach, and conversion on Instagram Reels.
Be sure to take notes 🙂
Likes and Comments:
Likes and comments are the foundation of engagement metrics for tracking Reels. Social Likes represent the number of users who appreciate your content, while comments indicate a deeper level of interaction.
High numbers in these areas are SOLID indicators of your audience showing interest and can help you gauge the success of your Reels in capturing attention and sparking conversations with your viewers.
Shares and Saves:
Shares and saves are metrics that go beyond simple interactions. When viewers share your Reels, they’re low-key endorsing your content to their own followers, expanding your reach.
Saves, on the other hand, indicate that viewers found your Reels valuable or inspiring enough to bookmark for future viewing. These metrics are important as they demonstrate not only engagement but also a want or need to revisit or share your content, which can be especially powerful in a real estate context.
Engagement rate is a CRUCIAL metric that encompasses the overall effectiveness of your Reels in building REAL interactions. It’s calculated by collecting likes, comments, shares, and saves, divided by the total number of impressions or views.
Reels Engagement Rate:
Total (Likes + Comments + Shares + Saves) / Total (Impressions + Views) x 100 = Engagement Rate
A high engagement rate indicates that your Reels are resonating with your audience, while a low rate may indicate you should make an adjustment with your content strategy. Understanding and optimizing this rate is REQUIRED for realtors looking to maximize the impact of their Reels.
As you do your research with understanding engagement rates, you may come across another formula that may look similar. I want to clear the confusion… The formula above focuses on engagement related to the total number of views on reels. This equation is more focused on the engagement per reel and can be useful for evaluating how engaging your content is to viewers who come across it – including people who may NOT be following you.
The following formula calculates the engagement rate based on the total number of your followers. This equation can give you an understanding of how engaged your audience is based on your follower count. This one is really useful for understanding how well your content resonates with your EXISTING audience.
Followers Engagement Rate:
Total (Likes + Comments + Shares + Saves) / Total # of Followers x 100 = Engagement Rate
Both formulas have their merits, and the choice depends on your specific objectives and the context you want to analyze. You can choose the one that aligns better with your goals and the insights you want to gain from your Instagram Reels analytics.
I dive more in depth in my 2023 Guide to Reels below!
Impressions represent the total number of times your Reel has been displayed on a user’s screen. This metric is crucial for understanding the visibility of your content. A high number of impressions indicates that your Reel is being seen by a significant portion of your audience.
However, it’s important to note that impressions alone do NOT measure engagement – they SHOW how often your content is shown but not how well it performs once seen. This can be seen as a vanity number but it’s a great starting point with knowing what content is “sticky”.
Unique Accounts Reached:
Unique Accounts Reached measures the number of different user accounts that have viewed your Reel. It’s an important metric for realtors because it signifies the ability to attract new audiences.
Reaching a broader, unique audience can help expand your network and attract potential clients who may not have been exposed to your content previously. It’s a key indicator of your Reel’s ability to draw attention beyond your current follower base.
Virality (vi·ral·i·ty) potential is all about the likelihood of your Reel going viral. *I think that was a given. While no formula can guarantee virality, certain metrics like shares and saves can provide valuable insights. A Reel with a high number of shares suggests that viewers are excited enough to share it with their followers, potentially amplifying its reach drastically..
Speaking along the same lines, a substantial number of saves implies that viewers find your content valuable and worth revisiting. Tracking reels can give you an indication of the viral potential of your Reels, helping you fine-tune your content strategy for max impact.
Click-throughs to Property Listings:
Tracking the number of people who visit a property listing after watching a Reel is key for realtors. It indicates how effective your Reel is at driving potential buyers to take the next step in their home-buying journey.
To measure this, you can use tools like Instagram’s built-in Insights to see how many users visited the link in your profile, which ideally leads to your property listings. The higher the click-through rate, the more successful your Reel is at converting viewers into potential clients.
Inquiries and DMs:
Direct engagement through messages, inquiries, and direct messages (DMs) is a wonderful sign of interest and intent! When viewers reach out to you with questions about a property or express interest in your services, it’s a clear indication that your Reel has resonated with them. Encouraging these kinds of interactions is key to nurturing leads and building relationships.
NOTE: Be quick and helpful in your responses to ensure you don’t miss out on potential clients. The faster you can serve their needs, the more trust and credibility you build.
The conversion rate is an important metric that captures the effectiveness of your Reel in driving specific actions like visiting property listings or sending inquiries. To calculate the conversion rate, divide the number of desired actions (e.g., clicks to property listings or inquiries) by the total number of Reel views and then multiply by 100 to get a percentage.
(Total Actions / Total Reel Views) x 100 = Conversion Rate %
This percentage reflects how well your Reel is at converting viewers into engaged leads. Tracking reels and improving this rate is vital for optimizing your Reel content and achieving your real estate goals. For frame of reference, rates between 2%–5% is average, 6%–9% is above average, and anything 10% and up is REMARKABLE.
Does this all REALLY matter? YES!
In a perfect world, everyone who sees your account would become instant clients and you would be rolling in cash. Until that happens, tracking reels key metrics like engagement, reach, and conversion will be your best friend in utilizing Instagram Reels for your real estate marketing efforts.
Don’t forget to implement these strategies and consistently monitor your Reels’ performance. These metrics offer valuable insights into the effectiveness of your Reels, enabling you to refine your content strategy, connect with potential clients, and ultimately achieve your business objectives.
So, my friend, it’s time to roll out those Reels, keep an eye on those metrics, and watch your real estate marketing efforts flourish. Get started today and unlock the full potential of Instagram Reels for your real estate business!
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