Understanding Social Media and engagement rates
Social media platform is home to millions of businesses and creators. Many budding businesses establish themselves on social media because its cost effective and has a higher reach. We see advertisements all over social media, be it Facebook, Instagram or any other platforms. Advertising on social media channels are cheaper and easier than the traditional methods of advertising. Driving engagement rate though social media has its own benefits, especially if its User-Generated-Content or UGC. User-Generated-Contents are 50% more trustworthy and 35% more memorable than any other form of paid media. Brands that understand the importance of engagement rates in advertising, have started using influencer marketing as their strategy. Using influencers for advertising, especially, nano-influencers, can have a huge impact on your brand. nano-influencers are more engaging and approachable.
Engagement rate is a metric used by marketeers to see how a specific campaign is performing. A measure of how people are interacting with the social media content and how involved they are with the contents you post. It could be liking a post, sharing a post or even commenting on a post.
When customers interact with a post, video, image or any sort of infographics, they are more likely to convert from potential customers to paying customers. Based on these factors you can experiment with different types of content that are more engaging.
Why is it so important?
In the recent years, organic reach on any platform has dropped drastically due to the frequency at which the contents are uploaded. It gets very challenging for brands to reach their potential customers. Using influencers, nano or micro has had a significant effect on brands that wanted to increase their brand visibility. Rather than having a single celebrity endorse your brand, you can have multiple nano-influencers, each with their unique content ideas to endorse your brand. Not only that, nano-influencers go out of their way to answer any questions related to your product. Take a look at our nano-influencer campaign that we run for Happyfresh.
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Micro and nano influencers make the approach more friendlier. Using influencers also increase the chances of your customers coming back to you. Customer retention as we know if not an easy goal. You can sell your product to your customers the first time but having them come back to you is still a challenge many brands face. The quality of the product is one thing, but your approach to sell is another, and you definitely have more control over the latter.
Some tips to increase Engagement rates on Social Media
- Leveraging User-Generate-Contents (UGC). Nano-Influencer marketing is a great solution as their contents are more trustworthy and authentic. Check out Brandface.io to learn more about this.
- Giveaways and competitions for social sharing. For example, a cosmetic brand can do a giveaway or an offer if you take a picture in one of their outlets and post it on Instagram. You can also run a competition where you followers can like or share your posts.
- Think of useful contents your followers might want to see. Posts about some useful tips, articles that could spark a conversation.
- Respond to each and every comment on your posts and on your pages.
Engagement rates in Advertising
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The importance of engagements rates in advertising is very similar to social media. It is important to calculate the engagement rate for advertising as well, this tells us if people are interested in our ads.This metric can be used similar to a feedback, if its not good, then we can change and experiment with what ever works for the brand.
Brands that work with Nano-Influencers see higher engagement rates at a lower budget. Instagram has become the most popular channel for a lot brands to run influencer marketing campaigns. Better engagement with nano-influencer due to trust, relevance and authenticism.
When it comes to campaigns, calculating engagement rates are accurate than looking at individual metric. Engagement rates are more comprehensive in terms of representation.
If their social media campaigns are thriving, then their engagement rate will be high and you can learn a lot from looking at and observing their page. On the other hand, if their campaigns are not doing well, then engagement rates will be low.
Calculating engagement rate for a campaign
Engagement Rate = Total engagement/ No of followers * 100
Total Engagements = The no: of likes, shares and comments (varies across platforms)
No: of followers = followers of a page/ Influencers (if its an influencer marketing campaign)
Nano- Influencer marketing is a great way to increase your engagement rates. Learn more about “How to find the right Nano-Influencer” for your brand.