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When implementing advertising campaigns on social media platforms, such as Facebook, Tiktok or Instagram…, interaction rate is an extremely important indicator. The manager of advertising communications activities will evaluate the success of the campaign based on engagement rate.
Why is this index so important, and is there only one general formula to calculate interaction rate? The answer will be in the article below.
Understand carefully about engagement rate
Engagement rate is a formula that measures the amount of user interaction with social media content that a brand or business shares.
The amount of interaction here is expressed through likes, shares, comments, saves, direct messages, mentions and many more actions depending on each social network. “Engagement” on social media often refers to active rather than passive actions (such as views or impressions).
There are many ways to measure engagement rates, and different calculations may better suit brands’ social media goals.
An example of Engagement rate on the Facebook platform
How important is engagement rate?
When running a campaign on any platform, the post must not only reach as many people as possible but also be interesting to the target audience.
Engagement Rate is an important indicator that shows whether a business or brand’s campaign is achieving good results or not. Your medium will not be considered effective if your audience is not interested and has no interaction with the content you create.
The audience’s engagement rate with produced content also indicates the level of influence they have on the audience. These two-way interactions are measured and displayed on the statistics table and reflect user interest in posts. From there, the vehicles will be comprehensively evaluated and where they should be improved or promoted to develop in the best direction.
Therefore, engagement rate is a “key” indicator for marketers in general and businesses and brands in particular. The higher the ratio, the more attractive the posted content will be and it will also help reduce advertising costs, increase sales and promote the brand more widely.
What engagement rate is good?
Engagement indicators will be calculated as good based on different platforms. For the Instagram platform, marketing experts agree that a good engagement rate is between 1% and 5%. The more followers you have, the more difficult it will be to achieve this index because your content will be dispersed to many audiences. Hootsuite reports an average Instagram engagement rate of 4.59% in 2020.
Average engagement rate on Instagram according to Hypeauditor.com
6 ways to calculate engagement rate for Social Media Manager
These are the most common formulas you need to calculate your social media engagement rate.
Total interactions typically represent a number of likes, favorites, reactions, comments, shares, views, retweets (for Twitter), and sometimes include clicks, depending on depends on the platform you are using.
Engagement rate by reach (ERR)
This is the most popular formula when it comes to calculating the engagement rate of content on media. ERR measures the percentage of people who chose to engage with content after viewing it.
Use the first formula for a single post and the second formula to calculate the average rate across multiple posts.
- Pros: Reach may be a better measure than number of followers, as not all followers will see all content posted. . In addition, in fact, non-followers can still access the post through shares, hashtags or other means.
- Cons: Reach can fluctuate for many reasons, which can become difficult to control. Too low a reach can lead to an unusually high engagement rate, so marketers will need to pay attention.
Engagement rate by posts (Engagement rate by post – ER post)
In theory, this formula measures how engaged followers are on a particular post. In other words, it’s similar to ERR but instead of reach, it gives marketers metrics about how quickly followers interact with content.
- Advantages: ERR is considered a more stable index than ERP because it measures based on followers. Therefore, if reach fluctuates too often, marketers should use this method to have a more accurate measure of the level of interaction after each post.
- Cons: As mentioned, while this may be a more solid indicator for tracking engagement on posts, it will not accurately update viral posts (popular content, causing storms). And, as the number of followers increases, the engagement rate may decrease a bit.
Engagement rate by impressions (Engagement rate by impressions – Impression ER)
Impressions are sometimes confused with Reach, but Impressions are the total number of views of content or advertising, often greater than Reach. Another base audience metric you can choose to measure engagement is impressions. While Reach measures the number of people who see content, impressions tracks how often that content appears.
- Pros: This formula can be useful if a brand is running paid content and needs to measure effectiveness based on impressions.
- Disadvantage: The interaction rate calculated with impressions must be lower than the ERR and ER metrics. Like Reach, Impressions can also be inconsistent and it is more effective to use this method in conjunction with ERR.
Daily engagement rate (Daily engagement rate – Daily ER)
This is a rate that identifies how often followers interact with a brand’s account on a daily basis.
- Advantages: Measures how often followers interact with a brand account on a daily basis, instead of counting engagement with a specific post.
- Disadvantages: There are still many errors in this measurement method. For example, the formula doesn’t take into account the fact that 10 interactions could be from one person, not 10 different accounts.
Engagement rate by views (Engagement rate based on views – ER views)
When applied to video content, brands can measure how many people choose to engage with your videos after watching them.
- Pros: If one of the goals of the video is to create engagement, this can be a good way to track.
- Cons: Views often include repeated views from a single user. And while that viewer may watch the video multiple times, they won’t necessarily engage multiple times.
Factored Engagement Rate
In a campaign or specifically a media post, the brand will have a certain level of priority for elements that interact with customers. For example, when the goal of campaign A is to achieve effective discussion on social networks, the brand will care about the effectiveness criterion “number of comments” rather than the number of likes, shares, reposts, etc. Here, comment is the factor that is allocated greater weight.
The engagement rate formula based on “comments as weight” will look like this:
This formula shows that the brand wants to evaluate the effectiveness of specific interactions by viewer comments. However, this formula is not recommended by social media experts, because it is easily misunderstood as engagement rate.
Metrics create an advantage for users in being able to measure and manage increases and decreases to help improve and optimize campaigns. Therefore, understanding and understanding the indicators will help brands and brands win on these platforms.
Brands can refer to how to “master” the above indicators with Onfluencer – Influencer Marketing platform based on artificial intelligence. The platform stands out with the ability to display reports and statistical indicators for all campaigns.
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Danh mục: Marketing