15 Oct Jargon Buster – Engagement Rate.
Jargon Buster – Engagement Rate.
From YMG – The Award-Winning Digital Marketing Agency in Chelmsford, Essex.
There are so many words and phrases out there. How are we supposed to remember them all? Like ‘stone the crow’. Do you know what that means?
It’s thought that this phrase is a term of expression. Used when someone was surprised. “I’m late for work? Stone the crow! I thought it was Saturday!” is an example of how the phrase may be used.
Another phrase you may not know is the term ‘engagement rate’. Lucky for you, engagement rate is the phrase getting Jargon Buster treatment today. We’re going to explain what it means, who it affects, why you should care, and how it can be affected.
What Is Engagement Rate?
There’s no need to think too hard on this one. It’s exactly as it sounds.
When created content is posted or published, it becomes exposed to your audience. Naturally, you’ll want your audience to engage with this content. This is achieved mainly through:
Viewing your content does count as engaging, however, it’s very hard to include this with your engagement rate. For example, social media sites may tell you that your post has been seen by 50 people. But how many of them scrolled right pass? Does that count as a view? Probably not. Therefore, it’s only worth counting those listed above.
Your engagement rate is the volume of your audience that has engaged with the content. From this value, you’re able to determine if your content is interesting and helpful to your audience, or if they’re largely ignoring it.
Why Should I Care About My Engagement Rate?
Put yourself in the shoes of a potential customer. Theoretically, not physically. After all, they probably need those shoes.
You’re looking for a business like yours. And it’s becoming more common nowadays for people to search for businesses via social media. So, they find two accounts. One is yours, and one is your competitors. Your page posts content that gets little to no likes, comments, or shares. It’s a wasteland. There’s no interaction between the business and its audience.
Your competitor’s social media page, however, is the complete opposite. The audience like and share posts, comment, and the business themselves are interacting with the audience as a result. Some posts have over 100 likes.
Out of these two businesses, which are you more likely to think are helpful and trustworthy?
Not only this but engaging with your audience (and having a high engagement rate) will build trust. Trust will bloom into sales, and maybe even brand evangelists.
What is My Engagement Rate?
The best way to look at your engagement rate is by using a percentage. So, to calculate the engagement rate on a specific post, use this formula:[Number of engagements divided by the reach of your post] multiplied by 100.
To make this easier to explain, I’ll use an example from my twitter account.
On the surface, it looks as though this tweet simply has 3 Likes. But, by clicking the Analytics button circled in the image, you’ll get a detailed look at your engagements.
Here you can see that this tweet reached an impressive 185 people. The total number of engagements is 36. So, if we apply our formula to these numbers, we can figure out the percentage.[36 / 185] x 185 = 19.459*
This means that my tweet achieved an engagement rate of 19.4% (we tend to round down around here. It’s safer that way).
However, that’s the engagement rate for just a single post. Your average engagement rate is what you should be focusing on, as you may have one successful post among dozens. To calculate your average engagement rate, you must first calculate the engagement rates for the posts you wish to see the average of. This may be because they’re of a similar subject, or they’re part of a series of posts.
Once you have calculated the various percentages, simply add them together, then divide the answer by the number of values there are. Let’s imagine we have posts with engagement rates of 2%, 1%, 19%, 4%, and 7%. Let’s use the formula to calculate the average engagement rate of these posts.
2 + 1 + 19 + 4 + 7 = 33
Seeing as there are 5 posts in this group, we divide the total by 5.
33 / 5 = 6.6
This means that, although one post did very well with an engagement rate of 19.4%, our average engagement rate is 6.6%.
Use these formulas to calculate your engagement rate on your social media pages. It’s worth making note of these and saving this information somewhere useful. This way you can see what type of content your audience finds engaging, and what type they respond to less.
Every social media page allows the owner of the page to see insights to some degree. Facebook pages have a tab that allows the user to see an in-depth analysis of the page’s engagement.
How Can I Improve My Engagement Rate?
The best way to improve your engagement rate is to post relevant, helpful, and genuine content. Content that your target audience will enjoy.
You must remember that your social media pages are not there to simply promote your business. They are a means of interacting with your audience, collecting feedback, answering questions, building an audience, and more. If you insist on only self-promotion on your social media pages, you’ll never grow your audience. This will also often result in a low engagement rate.
If you wish to improve your engagement rate further, consider providing your business with a social media management service.
Engagement rates are something that many business owners neglect. They believe that simply having a social media page is enough and that their business will benefit from it. This is, sadly, not the case.
Ensuring your page is helpful and appealing to your target audience will allow your page to grow, positively affecting your business in different ways.
For more information about engagement rates, or to speak to a professional on how to improve yours, get in contact.
Thanks for reading, and we’ll see you on the next Jargon Buster.
And yes, I changed the name and links on the pictures provided from my personal twitter. As much as I love you all, I didn’t want an influx of followers to my personal account. Sorry.
YMG are an award-winning and full-service digital marketing agency based in Chelmsford, Essex, and home of the Jargon Buster series, helping business owners to understand the technical terms of digital marketing.