What is a Good Engagement Rate for Your Influencer Marketing Campaigns?

Understanding how well your influencer marketing campaigns are performing is key to success, and one of the most important metrics to track is your engagement rate.

Wondering what that is, and more importantly, how to improve yours? Let’s dive in!

What is Engagement Rate?

In simple terms, engagement rate measures how much your audience interacts with your content, including likes, comments, and shares. To calculate it, divide the number of interactions by the total number of impressions, then multiply by 100.

Engagement Rate = (Total Engagements / Total Followers or Impressions) x 100

A good engagement rate can vary, but typically:

• 3% or higher is considered good.
• 6% or higher is excellent.

Why It Matters:

• Indicates how well content resonates with the audience.
• Helps compare content performance across campaigns.
• Tracks the effectiveness of influencers over time.

What Affects Your Engagement Rate?

Several factors influence engagement, including:

• Content Quality: High-quality, relevant posts perform better.
• Posting Frequency & Time: Regular posting at the right times boosts visibility.
• Hashtags: Using the right hashtags expands your reach.
• Platform: Platforms like Instagram and TikTok offer more engagement opportunities than YouTube.

Important Considerations:

• Don’t rely solely on engagement rates to gauge success. Include metrics like reach, impressions, click-through rates, and conversions.
• For influencer selection, assess content quality, audience demographics, and alignment with brand values.

How to Calculate Engagement Rate: 6 Formulas

1. Engagement Rate by Reach (ERR): Most Common

ERR measures the percentage of people who interact with your content after seeing it.

Formula:

ERR = Total engagements on a post / Reach of that post x 100        

To calculate the average for multiple posts:

Average ERR = Total ERR / Number of posts        

Example:

• Post 1 (3.4%) + Post 2 (3.5%) / 2 = 3.45%

Pros:

• Accurate measure when reach fluctuates.
• Accounts for non-followers seeing your content.

Cons:

• Reach can fluctuate, making it less stable.
• Low reach can inflate ERR disproportionately.

2. Engagement Rate by Post (ER Post): Best for Specific Posts

This formula uses followers instead of reach, making comparisons more consistent.

Formula:

ER Post = Total engagements on a post / Total followers x 100        

To calculate the average:

Average ER Post = Total ER Post / Number of posts        

Example:

• Post 1 (4.0%) + Post 2 (3.0%) / 2 = 3.5%

Pros:

• Stable metric for post-by-post comparison.

Cons:

• Doesn’t account for viral reach.
• Engagement rate decreases as followers grow.

3. Engagement Rate by Impressions (ER Impressions): Best for Paid Content

This metric calculates engagement relative to the number of impressions (total views).

Formula:

ER Impressions = Total engagements on a post / Total impressions x 100        

To calculate the average:

Average ER Impressions = Total ER Impressions / Number of posts        

Pros:

• Ideal for measuring paid campaigns.

Cons:

• Lower engagement rates compared to ERR or ER Post.
• Impressions can fluctuate.

4. Daily Engagement Rate (Daily ER): Best for Long-term Analysis

This formula evaluates overall daily interactions across your account.

Formula:

Daily ER = Total engagements in a day / Total followers x 100        

To calculate the average over multiple days:

Average Daily ER = Total engagements for X days / (X x Followers) x 100        

Example:

• 100 engagements in 10 days with 400 followers: 100 / (10 x 400) x 100 = 2.5%

Pros:

• Captures engagement on older posts.
• Tracks long-term audience behavior.

Cons:

• Doesn’t differentiate between unique and repeat interactions.
• Engagement can vary with post frequency.

5. Engagement Rate by Views (ER Views): Best for Video

Ideal for tracking video performance relative to views.

Formula:

ER Views = Total engagements on video post / Total video views x 100        

To calculate the average:

Average ER Views = Total ER Views / Number of posts        

Pros:

• Great for video-focused campaigns.

Cons:

• View counts include repeat views, which may not correspond to multiple engagements.

6. Cost Per Engagement (CPE): Best for Influencer Marketing or Paid Campaigns

CPE measures the cost-effectiveness of your engagement efforts.

Formula:

CPE = Total amount spent / Total engagements        

Pros:

• Useful for analyzing ROI in influencer campaigns or paid ads.

Cons:

• Ensure consistent definitions of "engagement" across platforms.

Common Engagement Metrics

1. Social Media Engagement Rate: Measures interactions (likes, comments, shares) relative to followers or impressions.
2. Email Engagement Rate: Tracks open rates, click-through rates, and shares via CRM tools.
3. Website Engagement Rate: Evaluates page views, time spent on site, and form interactions.
4. Video Engagement Rate: Assesses views, likes, comments, and shares on video platforms like YouTube.
5. Engagement Rate per Follower: Detects social media influencer fraud by comparing interactions directly to follower counts.

How to Improve Your Engagement Rate:

Here are some tips to boost your engagement:

1. Improve Content Quality: Ensure your posts are visually appealing and resonate with your audience.
2. Post Regularly: Build a loyal following by posting consistently at times when your audience is most active.
3. Engage with Your Audience: Respond to comments, ask questions, and interact with your followers to build a community.
4. Use the Right Hashtags: Tools can help you find the best hashtags to increase your reach.
5. Hire the Right Influencers: Micro and nano influencers can have higher engagement rates than larger influencers.
6. Run Contests & Giveaways: Motivate your audience to engage and attract new followers.
7. Analyze Your Performance: Regularly track your engagement metrics and adjust your strategies.
8. Understand What Works for Your Brand: Identify what engagement rate is good for your campaign, and focus on content that resonates with your audience.

How to Use Engagement Rates in Your Strategy

1. Set Clear Goals: Define whether you aim for brand awareness, traffic, leads, or loyalty.
2. Choose Relevant Metrics: Align metrics with your objectives.
3. Track Trends: Monitor engagement over time to identify patterns.
4. Analyze Post Performance: Learn from high-performing content.
5. Engage Actively: Respond to and initiate conversations with your audience.
6. Experiment: Test different content formats and posting times.

Pro Tip: While engagement is important, consider other metrics like brand sentiment and customer satisfaction to assess the overall success of your social media strategy.

Final Thoughts:

By improving content quality, posting consistently, and engaging with your followers, you can significantly increase your engagement rate. Keep an eye on your performance, optimize your strategies, and work with influencers who align with your brand.

Want to dive deeper into tracking your engagement? Reach out to me Bhawna@theletsinfluence.com to help you kickstart your Influencer campaign or DM me here!