In today’s highly competitive business environment, having a good social strategy is paramount for your business. LinkedIn, officially launched in May 2003, is the world’s largest professional network with more than 562 million users spreading over 200 countries and territories around the world. In 2018, LinkedIn still remains the most influential social media platform for business marketing. All of this emphasises the importance of running digital marketing campaigns on LinkedIn. This is particularly true if the B2B market is your primary targeting market.
It goes without saying that engagement plays an essential role in digital marketing campaigns. Why is engagement rate important? Because it tells you how well individuals interact with your LinkedIn content. Engagement rate is an indicator of whether individuals find your content interesting, resonant, and worth interacting with.
How do we calculate LinkedIn engagement rate? Interestingly, marketers and businesses may calculate LinkedIn engagement rate in different ways. Before we dive into the various ways of calculating LinkedIn engagement rate, let’s first look at what some of the most commonly used digital marketing terms mean.
· Engagement - Any measurable interactions with your posted social content such as shares, comments, likes, and clicks
· Clicks - The total number of times a piece of content has been clicked on or watched
· Shares - The total number of times a piece of content has been shared
· Likes - The total number of times a piece of content has been liked
· Comments - The total number of comments a piece of content has received
· Follows - The total number of new followers acquired via a piece of content
· Impressions - The total number of times a piece of content has been viewed
· Total Engagement = clicks/plays + shares + likes + comments + follows
Now that you have a general understanding of these commonly used social media marketing terms, let’s talk about the different types of measurement methods for LinkedIn engagement rate, as well as their pros and cons.
1) Engagement Rate = Total Engagements/Followers
Followers are those individuals whom your post could potentially be directly exposed to. This type of calculation measures engagement on a per follower basis.
Pros: Easy to calculate; follower base quality assessment.
Cons: Non-follower engagement is not taken into account at all.
2) Engagement Rate = Total Engagements/Reaches
Reaches refer to the number of individuals that you post is exposed to. This type of calculation measures engagement on a per individual basis.
Pros: Post quality assessment
Cons: Impression frequency is not taken into consideration
3) Engagement Rate = Total Engagements/Impressions
Impressions refer to the number of times your content is viewed/displayed. This type of calculation measures engagement on a per view/display basis.
Pros: Useful metric for measuring cost per thousand (CPM)
Cons: Variable frequency can lead to inconsistent results (impression = reach x frequency).
Okay. We have covered 3 types of LinkedIn engagement rate measurement method. Let’s discuss what a good LinkedIn engagement rate actually is.
- For the follower-based measurement method, a 2% LinkedIn engagement rate that’s is considered good, and anything above 2% is great. If your posts continuously have a lower than 2% engagement rate, chances are your follower base is not particularly active and your followers aren’t engaged with your content. You should work out a strategy to re-energise your content and engage with your followers again.
- For the reach- and impression-based measurement method, a 2% LinkedIn engagement rate is also considered good, and an above 2% engagement rate means you are doing great. This is because promoted content is usually tailored to a unique group of audience. You can select the targeting criteria before promoting the content. If your posts have a lower than 2% engagement rate on average, you may need to rework your targeting criteria as you could be targeting the wrong audience. Also, it’s possible that the content you created is just not as engaging as you thought it would be.
To sum up, there are different types of measurement methods to calculate LinkedIn engagement rate. It’s crucial for businesses and marketers to choose campaign KPIs that best align with their goals and objectives. It’s time for you to start putting more effort into deciding on how the campaign results can be categorised and used to improve your future campaign performance.