In a world where social media plays such a significant role in our daily lives, it is no surprise that more and more individuals are gravitating toward the virtual realm. We can’t say we blame them.
Consider social media as a new world, a different planet, where you must still pay for what you do. Sure, you still have to pay for ads and other things, but the engagement rate is the currency in a society like this.
This article will demonstrate to you what engagement rate is, why it’s essential, and how to calculate engagement rate. Read through this article!
What Is Engagement Rate And Why Is It Important?
A high engagement rate suggests that more people comment, like, share, and mention your brand and its content. A low engagement rate means that fewer people comment, like, share, and mention your brand and its content.
A high engagement rate indicates that your brand’s potential reach is substantially bigger. Instead of focusing on increasing the number of people who like your page, you should focus your efforts on increasing the number of people who connect with your content on Instagram, Facebook, etc.
How To Calculate Engagement Rate?
Do you know that you can calculate engagement rate? Here is the formula for calculating engagement rate:
Total engagement divided by total followers multiplied by 100 percent equals engagement rate. Hence, the formula for calculating the rate of engagement is as follows:
Engagement Rate = Total Engagement / Total Followers x 100%
What Is A Good Engagement Rate?
To establish whether your engagement rate is good or bad, you must compare it to something else. And you may begin by determining your final goal and measuring accordingly.
- How well your material performs over some time (benchmark against your engagement rate over time)
- It compares your performance to that of your competition (benchmark against your key competitors)
- Establish a baseline for your industry’s social media activity (benchmark against top industry players)
- Examine your performance across various social media sites. (compare to your personal social media profiles)
This would normally require hours of calculating or reporting. On the other hand, technology like Keyhole would calculate your engagement rate in real-time and seconds. You may also compare your profiles to each other and competitors and observe how your material has performed over time.
How To Check Engagement Rate?
These are the most prevalent formulas for calculating social media engagement rates.
Total engagements often comprise likes, favourites, responses, comments, shares, views, and retweets, including clicks, depending on the platform.
1. Rate Of Engagement Based On Reach (ERR)
This is the most frequent formula for calculating content engagement. ERR is a measure that evaluates how many people opted to interact with your content after viewing it.
Use the first formula to get the average rate for a single post and the second formula to find the average rate for a group of posts.
ERR = total engagements per post divided by reach per post multiplied by 100
To calculate the average, combine all of the ERRs from the posts you want to average together, then divide by the number of posts:
Total ERR / Total posts = Average ERR
In other terms, 3.45 percent = Post 1 (3.4 percent) + Post 2 (3.5 percent) / 2.
2. By Post Engagement Rate (ER post)
Technically, this algorithm calculates the number of times a post’s followers interact with it. In other words, it is comparable to ERR, except it informs you of the rate at which your followers engage with your content instead of reach.
This is how most social media influencers figure out their average engagement rate.
Total engagements on a post / total followers *100 = ER post
To find the average, combine all of the ER posts you wish to average together and divide by the number of posts:
Total ER by post / Total posts = Average ER by post
Example: 3.5 percent = Post 1 (4.0 percent) + Post 2 (3.0 percent) / 2
3. The Daily Rate Of Engagement (Daily ER)
Even because engagement rate by reach compares interaction to maximum exposure, it is still useful to know how frequently your followers interact with your account daily.
Daily ER =Total engagements in a day / total followers *100
Daily ER = Average Total engagements for X days / (X days *followers) *100
4. Views As A Measure Of Engagement (ER views)
If video is a major component of your marketing strategy, you will want to know how many people choose to interact with your films after they’ve been watched.
Total engagements on video post / Total video views *100 = ER view
Total ER views / Total posts = Average ER view
How To Increase Engagement Rate?
To enhance your engagement rate on Instagram and other social media platforms, you must do the following:
- Post regularly.
- Instead of preaching, tell stories.
- Create a powerful brand.
- Ensure that your feed is aesthetically consistent.
- Select the appropriate hashtags.
- Place a premium on user-generated content.
- Take a look at all of the different video formats available on Instagram.
- Use closed captions and Instagram video subtitles.
- Turn on Instagram Reels.
- Take use of Instagram’s augmented reality filters.
- Use Instagram’s video ad options to your advantage.
- Give animated gifs a chance.
- Increase website traffic by utilising Instagram traffic.
- To ‘win’ Instagram, use SEO.
- To develop brand legitimacy, collaborate with micro-influencers.
We hope we have helped you in giving an insight into what Engagement Rate is and how it’s an important metric to judge your social media efforts by. If you’re looking to increase your engagement rate, you could bring an experienced social media agency on board who’d work on improving your social media presence and the traction you receive!