The old age myth of believing that follower count is the superior metric to calculate social media success is officially debunked. It is called a vanity metric for a reason, after all. Then how can you showcase your value as a creator to brands? Well, it is all about engagement now and we are here to give you a quick rundown on this new metric.
What Is Engagement?
First things first, what is Engagement? Social media engagement is the number of likes, comments, shares, and saves your social media posts generate. The goal of this metric is to see how engaged your audience is no matter the size.
This metric is not only important to let brands you are working with see that your audience is hooked but also to put you in front of a new audience. Social media platforms’ algorithms are reliant on engagement. If the algorithm sees that people are reacting and interacting with your content, then the chance is you are being recommended to a new audience and will get more reach.
Nano-influencers and micro-influencers have a better chance to engage their audience than macro-influencers. Engagement is all about building connections with your audience which is the forte of smaller creators. Building a strong connection with your audience requires quality content, a reliable brand persona, and consistency.
The first two elements depend on you. However, here is a cheat sheet, use social media management tools like Nuelink to help with the consistency.
How Can You Calculate Your Engagement rate?
There are a few methods to calculate engagement rates. There is an engagement rate by reach, engagement rate by post, engagement rate by impressions, daily engagement rate, and engagement rate by views. Each method has its uses, but today we will cover the most common method, engagement rate by reach.
You can calculate your engagement rate yourself by using this formula.
ERR = total engagements per post / reach per post X 100
Or better yet, use an engagement rate calculator. There are few tools on the market both free and paid, but we like using HypeAuditor, inBeat, and Phlanx. All you have to do is put your social media handle and voila you have your engagement rate.
What Is a Good Engagement Rate?
If you are new to the engagement rate game, then the number your engagement rate calculator yields is just a random number. Like everything else in life, not everyone agrees on what is a good engagement rate but here is the industry standard.
Less than 1% = low ER
Between 1% and 3.5% = good ER
Between 3.5% and 6% = high ER
Above 6% = very high ER
If you fall under the first category, then restrategizing your social media marketing is in order. You will need to listen to what your audience has to say and adjust your content as you see fit. The second category is for those creators who are doing fine but there is still room for improvement. As for the last two categories, keep doing what you are already doing since it is obviously working for you.
Understanding engagement rates are very important for both creators and brands looking to sponsor influencers. As a content creator, having the numbers to prove that your audience is engaged will help you immensely to negotiate good pay.
As for brands, you must know if it is worth your while, and money, to sponsor certain content creators. After all, social media is just media without engagement.