Engagement Rate on Social Media: What Does it Mean
When it comes to social media communication, engagement rate means everything! The ability to measure audience engagement levels can be an instant game-changer in the high-stakes world of business. Being in the know, so to speak, enables you to gauge customer buy-in and respond in a proactive manner.
Ideally, the right metrics should indicate what you need to start doing or stop doing in terms of online content and marketing strategy. But before we dive into the rules of engagement, let’s take a minute to define Engagement Rate and how it specifically relates to social media communication.
What Does Engagement Rate Mean?
Engagement rate can best be defined as a mathematical equation used to determine how engaged people are with brand content. It, therefore, stands to reason that high engagement rates indicate a successful marketing strategy, while low engagement rates signal the need for change.
There are different methods of tracking this data across various digital platforms, but the most common formula used in social media is to divide the sum of standard metrics (likes/comments/shares) by the total number of followers and then multiply that number by 100. The results tell a compelling story about your brand and its impact on followers. Read more about How to Calculate Your Engagement Rate Effectively.
Did you know that the global population spends approximately 13 million hours a day on social media?! Just imagine what this collective figure could mean in regard to potential customers and brand reach. Engagement rate was born on social media and is now an essential tool for measuring growth and stagnation. Have a look at the reasons why tracking social media engagement rate is so important to brand success. Let’s run through them together:
1. Social Media Engagement Rate Allows you to “See and Be Seen”
Are you getting noticed by the movers and shakers? Social media exposure creates an opportunity for your brand to become a trendsetter.
2. Offers Crucial Feedback
Does brand content provide enough value to your followers? Social media engagement rate is a prime indicator of whether you are meeting the needs of your audience.
3. Provides Direction for Marketing Campaigns
How is your brand performing online? By tracking Engagement Rate, you will soon discover if your marketing campaign is effective and adjust your strategy as needed.
Social media engagement rate may not answer every question you have about the overall success of your brand, but it does yield valuable insight into how much online content is being consumed and appreciated by followers. These numbers provide a baseline for future marketing goals. Looking for more tools and strategies to grow your business in today’s shifting landscape?
Futureproof can help transform your business operations and equip you with the brand, marketing, and sales tools and strategies necessary to adapt to an ever-evolving market. We take a holistic, cross-functional approach to deliver tailored solutions for your business. Partner with Futureproof today!