It can be so easy to get caught up in comparing your own social media following to your competitors. Whilst it’s important to keep an eye on competition, it’s even more important you understand the metrics.

Over the last few years influencer marketing has seen exponential growth, in fact;

With the desire to turn social media accounts into money making machines, there has been an enormous importance placed on follower counts. As a consequence some businesses have resorted to shortcuts, by buying fake followers, in an attempt to fast-track their ascent to social media stardom. Sounds super savvy right?!…

WRONG

Truth is social media doesn’t operate on a follower-count-first basis. Anyone can buy followers, but it takes more than mere numbers to become a true influencer. To influence, you must genuinely impact people’s thoughts, opinions, and actions. You need to become a thought leader within your niche and nurture an organic, engaged following.

The lack of genuine engagement is a telltale sign. Social media users are can often spot a fake.

Why is engagement important?

Social media engagement rates are important because they reflect how well your content is performing and how well you’re connecting with your audience. Whether you’re an individual looking to grow your personal brand or a business aiming to boost sales, monitoring and improving engagement rates should be a key part of your social media strategy.

Social media engagement rates are important for several reasons, both for your personal brand and business:

Building a connection with your audience: Engagement rates indicate that your content is resonating with your audience. When people like, comment, share, or otherwise interact with your posts, it shows that they are paying attention to what you have to say. This can help build a stronger connection between you and your followers.

Algorithm favourability: Social media platforms use complex algorithms to determine what content to show to users. Engagement is a key factor in these algorithms. Higher engagement rates can result in your content being shown to more people, increasing your reach.

Brand awareness: For businesses and organisations, engagement is crucial for building brand awareness. When people engage with your content, they are more likely to remember your brand and consider it when making purchasing decisions.

• Community building: Engagement fosters a sense of community among your followers. When people feel like they are part of a community, they are more likely to stay engaged with your content over the long term.
• Feedback and insights: Engagement provides valuable feedback on your content. Comments, in particular, can give you insights into what your audience likes, dislikes, and wants to see more of. This information can help you refine your social media strategy.
• Trust and credibility: High engagement rates can also contribute to building trust and credibility. When others see that your content is popular and well-received, they are more likely to trust your expertise and opinions.
• Conversions and sales: For businesses, social media engagement can directly impact sales. Engaged followers are more likely to click on links, visit your website, and make purchases.
• Competitive Analysis: Monitoring your engagement rates can help you benchmark your performance against competitors. It allows you to see how well you are doing compared to others in your industry or niche.
• Ad performance: If you run social media advertising campaigns, engagement rates can help you gauge the effectiveness of your ads. High engagement on an ad can indicate that it’s resonating with your target audience.
• Influence and partnerships: High engagement rates can make you more attractive to potential partners, sponsors, or influencers. Businesses often seek out individuals with engaged social media followings to help promote their products or services.

How to calculate engagement rates?

Calculating social media engagement rates involves measuring the interactions (likes, comments, follows and shares) in relation to the size of your audience. Here’s a basic formula for calculating engagement rate:

Engagement Rate (%) = [(Total Engagements / Total Followers or Reach) * 100]

Total engagements: Count the total number of engagements on your content. This includes likes, comments, shares, and any other relevant interactions depending on the platform (e.g., retweets on Twitter, pins on Pinterest, etc.).

Total followers or reach: Determine the total number of followers on the social media platform or the total reach of your content during the selected time frame. This is the potential audience your content could have reached.

Here’s an example:

Suppose you want to calculate the engagement rate for a specific Instagram post:

• Total Engagements (likes + comments + shares): 500
• Total Followers: 10,000

Engagement Rate (%) = [(500 / 10,000) * 100] = 5%

So, the engagement rate for that Instagram post is 5%.

Remember that engagement rates can vary widely depending on the platform, the type of content, and your audience size. It’s also important to track engagement rates over time to identify trends and measure the success of your social media strategy. Additionally, you can calculate engagement rates for specific types of engagements (e.g., likes only or comments only) if you want to dive deeper into your data and analyse specific aspects of your social media performance.

I wouldn’t worry too much on calculating this though as Meta Business Suite or most, if not all social media scheduling tools can provide you with your engagement rate. 

“Most social media marketing experts agree that a good engagement rate is between 1% to 5% — but the more followers you have, the harder it is to achieve.” Hootsuite 

…so if you’re ever wondering whether a follower count is genuine, take a look at how many likes your competitor is getting to see if it tallies with their follower count. If they have a sky high following and very low engagement, chances are either:

Their content doesn’t resonate with their audience 

They have fake followers 

Remember that true social media success hinges on your ability to connect, inspire, and engage with a real, interested audience. Becoming an influencer isn’t about the numbers on your profile; it’s about the impact you make on the hearts and minds of those who genuinely follow your journey. In the world of social media, authenticity and genuine engagement are the currencies that truly matter.

Contact us if you need a helping hand with your socials!