What does engagement rate (really) mean?
Statistical analysis is key to a successful social media strategy. Among the various indicators that can be monitored, one seems inescapable: engagement rate.
Different formulas for the calculation of engagement rate
Theoretically, engagement rate is the ratio between the number of interactions made by a population and the size of that population.
In practice, there are several formulas:
- The average engagement rate per post is defined, for a given post p, as the ratio between the sum of interactions i generated by the post and the number of users U who saw the post:
T (p) = [Σ (i) / U] x 100
- The overall average engagement rate is defined, for a given profile P (page, account, profile) over a given period of time t (day, week, month, quarter, year), as the ratio between the sum of generated interactions i and the profile’s total number of subscribers A:
T (P) = [Σ (i) / A] x 100
The real meaning of engagement rate
Engagement rate measures several things:
- How engaging is the content published on social media: do the teasers, titles, and images adequately encourage the audience to consume the offered content?
- The intrinsic quality of the published content and its relevance to the target: once consumed, does the content itself generate interactions?
- The dynamism of the brand’s audience: are the subscribers receptive to the published content?
On the other hand, engagement rate does not directly measure:
- Virality of the content: this information is obtained by measuring the reach.
- The ROI of the content: this information comes from the calculation of the different conversion rates for each implemented tunnel.
Engagement rate is a key measurement in a social media strategy and just as important in a content marketing campaign; it makes it possible to measure the adequacy of the published content to the target audience. This is crucial information for the brand.