Social media accounts with larger followings are going to see more interactions on their posts. However, that doesn’t necessarily mean their content is better.
Engagement rate gives us an assessment of the quality of the content, independent from the number of followers an account has.
What is Engagement Rate?
Engagement rate is a metric used to assess the average number of interactions your social media content receives per follower.
Engagement rate is calculated as the total number of interactions your content receives divided by your total number of followers, multiplied by 100%.
In simpler terms, it’s a measure of how well your content performs independent of your follower count.
What counts as an interaction depends on the platform, but most often refers to likes, reactions, shares, and comments.
Why Should You Track Engagement Rate?
Because you’re factoring out the number of followers you have, your engagement rate provides an honest assessment of the quality of your content.
For example, if a brand has millions of followers, but only receives a few dozen interactions per post, it’s likely they’re not producing high quality content.
Contrast that with an account that only has a few thousand followers but gets tons of shares and comments every time. That would gain a high engagement rate.
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Engagement rate can also be indicative of a mismatch between the content you’re producing and your audience. If you have a low engagement rate, it’s possible that you’ve gained a large following that isn’t your target customer.
Or perhaps, you have been able to reach a following from brand recognition alone, but you’re not creating the content your audience wants.
How to Calculate Social Media Engagement Rate
Engagement rate is calculated as total engagement divided by total followers, multiplied by 100%.
The engagement rate formula is:
Engagement Rate = Total Engagement / Total Followers x 100%
In this case:
- Total Engagement = the sum of all interactions (shares, comments, reactions, etc.)
- Total Followers = the number of people who follow your account
For example, if Company A posted on Facebook to their 10,000 fans and received:
- 200 likes
- 100 comments
- 50 shares
This means that their total engagement would be 350 (200+100+50). Let’s plug this into the equation:
Company A’s Engagement Rate = 350 / 10,000 x 100% = 3.5%
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What Is Good Engagement Rate?
In order to determine if your engagement rate is good or bad, it must be benchmarked against something else. And you can start by asking yourself what is your end goal, and measure accordingly.
- How your content performs in a given time period (benchmark against your own engagement rate over time)
- Compares your performance against competitors (benchmark against your key competitors)
- Create a benchmark for your industry social media engagement performance (benchmark against top industry players)
- Compare your performance on different social media platforms. (benchmark against your own social media profiles)
Usually, this would take hours of calculating or reporting. However, a tool like Keyhole would calculate your engagement rate in real-time and within seconds. You can also see how your content has performed over time, as well as use “Comparisons” to stack your profiles against each other, and competitors.
This is one of the many ways in which Keyhole users can unlock powerful social media metrics, and save over 5 hours every week from manual reporting, calculating and benchmarking.
Want to learn how Keyhole can help you unlock valuable social media intelligence? Talk to our team today
Keyhole helps marketers make data-driven decisions while streamlining their social media management efforts. On top of campaign tracking, influencer marketing, and social listening, you can also schedule and publish your social media posts, all in one platform.