- 1. Engagement ration definition
- 2. Overview and development
- 3. Advantages
- 4. Disadvantages
- 5. Relevance to influencer marketing
- 6. Best practices
Table of contents
Engagement ration definition
Engagement ratio is an influencer marketing metric that marketers can track to determine what percentage of an influencer's audience interacts with their content. Likes, comments, retweets, and shares count as interactions. Most social media networks e.g. Instagram, Facebook, Twitter track this metric.
Brands can view engagement data in the social media's analytics section. When working with influencers, businesses need to ask the influencer to send screenshots of the important data. Depending on what data the social network tracks, brands may have to sometimes do additional calculations on their own to figure out engagement rate as well.
Overview and development
Social media analytics was developed in 2006, following in the footsteps of web analytics but for social media networks. Radian6 and Scout Labs were two of the first social media analytics companies. They provided customers with tools to measure and analyze their performance on social networks. In 2007, Klout entered the scene with a new way of analyzing performance. Their algorithm evaluates overall social media performance and reports it as one's "Klout score". Engagement is a factor they take into consideration.
Although there were third-party sites that aggregated Facebook analytics for users, Facebook introduced their own on-site analytics in 2010. Engagement ratio is one of the many metrics that Facebook tracks for businesses. Different from other analytics, Facebook also shows negative engagement data, such as unlikes, hide, and report as spam.
More recently, influencer management platforms are being established to help businesses manage relationships with influencers. Many influencer management agencies collaborate with the platform providers to include their tools for helping businesses analyze engagement data.
- Higher Engagement Ratio Sometimes Means a Higher ROI: Choosing influencers with high engagement rates sometimes results in a higher ROI. People who interact with a post in some way are more likely to become customers. Although not everyone who likes or shares the post will become a customer, some of them likely will.
- Clues as to How Well the Campaign Performed: If a brand's campaign has a lower engagement rate than the influencer's average, then it needs to figure out what may have gone wrong in their approach. On the other hand, if the campaign has a higher engagement rate than the influencer's average, the brand knows it was a hit. Marketers should consider what went right in the campaign to use that insight or tactic in future campaigns.
- Insight into a Brand's Most Engaged Audience: Engagement rate data can provide insight into a brand's most engaged audience if the analytical platform digs a bit deeper into the data. Some platforms show who interacts the most with the brand's posts. Businesses can find similarities among these people to get a better idea of the target markets they connect with.
- Sometimes Impression is Low: The downside of working with influencers who have high engagement ratios is they usually have a low reach/impression. Influencers with over 200,000 followers can have lower engagement rates despite the good reach. Brands can run calculations to determine which influencers are likely to generate the highest ROIs.
- Not Always Relevant: Marketers shouldn't allow engagement rates to dictate all of the decisions they make. Monitoring the wrong influencer marketing metric in a campaign can cause uninformed decisions. The goals of a campaign determine which key indicators to track. Engagement rate is not always a metric that needs to be tracked.
- Good Engagement Isn't Clear: What counts as a high engagement rate? How do you know if engagement is low? These are difficult questions to answer. The definition of a good engagement rate differs from platform to platform. Brands must know what the social network's average engagement rate is among users to have a better idea.
Relevance to influencer marketing
Engagement rate is one of the many key indicators brands need to know before getting into influencer marketing and influencer management. Despite the fact it has a few disadvantages, the engagement rate is a must-know in influence marketing. To analyze an influencer's success both within one's campaign and as an individual, brands need to use engagement data.
Engagement is also one of the most important factors to successful social media marketing that translates to increased sales. How can a brand increase sales if no one ever shares the post or clicks on the link? A brand wouldn't notice much difference in sales from social media and influence marketing if they don't know how to generate results and spur users to action.
Brands should check an influencer's engagement rate on each platform they use before coming to a final decision on where the campaign will take place. Some influencers may have a high engagement rate on Instagram but a low rate on Twitter. A simple way to calculate an influencer's engagement rate on a platform is to add all of the interactions (likes, comments, shares, reacts) and divide by the number of followers. then divide by the number of posts. To turn it into a percentage, marketers should multiply the result by 100. However, brands should also combine with other metrics such as like follower ratio, follower growth rate, earned media value, etc. to get the most accurate assessment of the quality of an influencer.
Lastly, a brand should receive assistance from an influencer marketing platform or agency rather than going at it alone. An influencer marketing agency has a deep understanding of which metrics should be tracked for what type of business goals and how to accurately analyze results.