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What Is Engagement Rate?
Understanding the effect of your influencer marketing initiatives is critical if you want to achieve long-term success and ROI for your business. One of the key indicators for assessing performance is the engagement rate. It shows us how successfully the audience interacts with influencer-created content. When broken down step by step, calculating the engagement rate may be simple. In this post, we'll guide you through the stages, including examples to aid you along the way.
Step 1: Decide On Your Engagement Metrics
First, we need to define the engagement metrics to be able to calculate accurate engagement rate. We will choose Instagram to illustrate this example.
Likes, comments, shares, and saves are common engagement metrics on Instagram. Depending on your marketing objectives, you might also consider clicks on links or the bio. (In another article, we'll discuss YouTube engagement rates, which are calculated based on factors such as view count, likes and dislikes, comments, shares, watch time, click-through rate, subscriber growth, audience retention, and frequency of viewer interactions - a whole new Universe to explore).
Step 2: Gather Data
Collect data on the engagement metrics you've chosen for a certain influencer's post. Let's take an example with an Instagram post:
Likes: 500
50 comments
30 shares
Saves: 25
Step 3: Calculate Total Engagement
Total engagement can be calculated by adding up all the engagement above mentioned metrics:
Total Engagement = Likes + Comments + Shares + Saves
Total Engagement = 500 + 50 + 30 + 25
Total Engagement = 605
Step 4: Calculate the Follower Count
You will also need the total number of followers. For this example let's say the influencer has 20,000 followers to date.
Step 5: And Now Calculate the Engagement Rate
Now let's calculate the engagement rate by applying the following formula below:
Engagement Rate (%) = (Total Engagement / Follower Count) * 100
Our example: Engagement Rate (%) = (605 / 20,000) * 100 Engagement Rate (%) = 3.03%
For faster calculations can also use our engagement rate calculator here:
Step 6: Interpret the Engagement Rate
The engagement rate in our scenario is 3.03%. This shows that each follower engaged with the content at this rate on average. It is important to understand the context in order to fully grasp this rate. The following are some general guidelines:
Engagement Rate | Interpretation |
Below 1-2% | Considered relatively low engagement rate. |
2-5% | Falls within a moderate range. |
Above 5% | Generally considered a high engagement rate. |
It's essential to keep in mind that these benchmarks are general guidelines. The ideal engagement rate might vary depending on industry, platform, and audience size. For influencer marketing campaigns, a higher engagement rate typically means a more responsive and interested audience.
To be able to figure out the effectiveness of your influencer marketing campaign, compare the engagement rates of various influencers and posts to evaluate your influencer marketing strategy. Examine which factors lead to higher performance and why. Using this data, you may fine-tune future campaigns for better results.
Engagement Rate Is Your Guiding Light
Understanding your impact is your compass to long-term success and thriving brand ROI in the ever-changing field of influencer marketing. The engagement rate is your guiding light, reflecting how well your audience dances to the music of the influencer's material.
While figuring out this rate may appear to be a two-step process, it opens up a world of possibilities. So, get ready, specify your metrics, collect your data, and start calculating! You'll manage your influencer marketing journey with elegance, humor, and data-driven accuracy, leaving a path of success and engagement in your wake. Have fun influencing!
Got questions or wanna collaborate? Hit me up at berenika@resonancecreativeco.com, and let's make some influencer magic happen!