Engagement rate refers to a metric that tracks how actively your audience is engaged or involved with your content. The engagement can be in the form of likes, comments, shares, or clicks.
Engagement rate is an important metric for eCommerce brands as it helps analyze the effectiveness of your brand campaigns and demonstrates how successful your campaigns are.
The key metrics for measuring the engagement rate may vary according to the marketing channel you use to run your campaigns. For example
- Engagement on a website involves conversions, average time on page, average page views in one session, bounce rate, shares, etc.
- Engagement in email campaigns involves open rates and click-through rates
- Engagement on social media platforms involves likes, shares, comments, retweets, pins, etc.
- Engagement in a paid advertisement involves click-through rate, CPM (cost per thousand impressions), CPC (cost per click), ROAS (return on ad spend), etc.
The engagement rate helps the marketing teams assess their market penetration strategy and how interested their target audience is in their products or services.
Marketing teams can use the engagement rate to:
- Measure performance of their campaigns
- Target the right audience
- Optimize content creation strategies
- Increase conversion rates and revenue
- Find influencers and brand advocates
As companies are shifting their focus more towards customer experience over product features or pricing, the importance of engagement rate will only grow in the future.