Engagement Rate – A Metric You Can Count on

engagement rate a metric you can count on blogThe biggest difference between digital marketing and traditional marketing is tracking. With a traditional advertising campaign, like a billboard or newspaper ad, your marketing team can guess how many impressions the ad yielded based on the number of cars that drive by every day or the number of copies the newspaper sold. But there’s very little way to tell if an advertisement worked to bring in new customers unless those customers self-identify by mentioning it. Even if business ticks up after a campaign, it’s been difficult to attribute it to a specific campaign, until now. Thank you- Engagement Rate!

With digital marketing, you can track how your ad or post is doing in real-time. Not only can you tell how many potential customers have looked at the ad or post, but you can also see what action they took. This metric “engagement” gives you an excellent window into how your campaign is doing.

ACTIVE Network Target Marketer© tracks engagement data for your event’s marketing to help you figure out exactly how well you’re doing. It can measure your campaign’s success based on your goals, as well as how you stack up against competitors.

 

Introducing Our Two Types of Engagement Rates

There are two types of engagement data provided by Target Marketer: hard, quantitative data gleaned by click-through rates and soft, qualitative data provided by likes, comments, and shares. When you pay for an ad, social media sites and search engines use your engagement history to determine how to rank your ad. This rank ultimately places your ad in front of customers to grab their attention. The click-through-rate (CTR) is an important part of this because it determines how much you’re going to pay for the ad and ad placement. (You can read more about how sites determine your ad’s ranking in this article from Forbes.)

Monitoring your click-through-rate on paid advertisements can help you determine if your ad is working. If people aren’t clicking on the ad, you can retool it to increase its quality, or use data to determine if you’re not aiming at the right target demographic. If people are clicking on your ad, you know the ad is working; you can then track how long they spend on your website, and see if those clicks are converting into sales. This helps you understand whether or not the people visiting your site are ultimately buying your product or service and at what rate.

While soft engagement is measured in numbers the same way that click-through-rates are, the information those numbers provide says more about your brand’s reputation. If people are liking or sharing your posts on social media, that means they enjoy your message or at least find it relevant, amusing or useful. Of course, people may retweet or share a message on social media because they find it outrageous or insulting, just as often as they’ll share one they find important or delightful. You can use comments to understand the sentiment people have in sharing or liking your message, to know if what you posted is giving the impression you wanted, or if you need to work on damage control.

 

Talk Data to Me

You can track engagement with the following calculations:

Engagement Rate = (Likes + Comments + Shares + Clicks on a day)/(number of impressions or Reach)x 100

Conversion Rate = (Clicks)/(Registrations) x 100

As you can see, this measurement includes your existing fans and shows how engaged they are with your brand’s page. Posting quality messages frequently will help you keep this social engagement up and provide an understanding of how your fans feel about you, your product or your services.

Also, notice that there are two different engagement goals.

  1. Get people sharing and excited about what you have to say.
    2. Drive end of the funnel conversions.

Target Marketer takes the guesswork out of your engagement data by analyzing these numbers for you. It also tracks engagement across social, email and paid search channels, all in one reporting channel, so you don’t have to toggle between programs to measure effectiveness of your marketing campaigns. The program makes suggestions based on your engagement levels (both hard and soft metrics), helping you determine where to focus your future marketing efforts.

Knowing how engaged your customer base is with your marketing efforts can make the difference between a successful event and a dud. Measuring engagement and leveraging it to make your ads and posts count can save you time, money and effort in the long-run. Engagement is a metric you can certainly count on.