Digitalization has changed the landscape of how businesses interact with their existing and target customers. It is very difficult to keep an audience engaged if the content is not well prepared. It is the digital marketing strategy that will determine if the target audience is attracted to your business. This is where engagement rate plays an important role.
The engagement rate is a parameter that is used to determine whether the target audience is engaging with your content as much as you had planned for while preparing your digital marketing strategy. Even though there could be several other ways to measure the success of your digital marketing strategy, still customer engagement has always been considered a key parameter to determine the cost-benefit analysis of your marketing campaign.
There are many ways of engagement rate calculation, out of which we will cover the most commonly used ones. First, let us understand the basic method to perform the engagement rate calculation. The engagement rate is calculated by dividing the total number of engagements by the total followers and expressing this number in the form of a percentage (by multiplying with 100).
Engagement Rate = (Total # of Engagements / Total Followers) x 100
Here, total engagement is the summation of all the customer interactions and will vary based on the measurement followed by the specific platform on which you are running your campaign. The total followers’ figure is the total follower count of your social account on the specified platform. Now, let us look into how some factors can be used to tweak this formula and make it more beneficial for you.
In this method, divide the engagement you recorded per post by the reach acquired through that post.
In this method, divide the engagement you recorded per post by the follower count of your page.
In this method, divide the engagement recorded per video post by the total views of the video content.
In this method, divide the engagement you recorded per post by the impression count of your post.
In this method, divide the engagement you recorded in a day by the follower count of your page.
With an ever-increasing competition resulting in competitive pricing and the best product delivery schedule, customers are swayed by the overall experience they have while interacting with a brand. Here are some tips you can try out to use engagement rates to deliver the best experience to your targeted audience.
When you engage properly with your target audience, you ensure that your brand is visible to them and even a wider population. When your audience is happy by engaging with your content, they automatically recommend your brand to the people they know. This way not only does your audience base grow organically, but also your brand is recognized by your audience as a credible business. Clearly, you can understand that audience engagement is key to build excellent customer rapport and increase their affinity towards your brand.
Since engagement is a defining parameter of your marketing campaign, hence it is essential that you can correctly measure this parameter. This is where the engagement rate plays a pivotal role. It will inform you if your content is accepted by your targeted customers. Unless you get your target audience to engage with your content and spread positivity about your brand, you will not be able to convert them and generate business from them.
