Now that you’ve determined how to calculate your brand’s social media interaction rate…
…it’s time to analyze the data.
This is when my data-loving heart goes all a-flutter. I live for moments like these, continually refreshing the screen after a new post in order to see real-time results.
A quick recap:
Previously, we took a look at how a social media interaction rate is calculated. In a nutshell (but make sure you read our other post for all the really good bits):
Interaction Rate = (Likes + Shares + Comments + Clicks) / Impressions
Why do you care? Insights from the platforms themselves tell you follower count, individual post performance, demographic information, even engagement rate (which is not the same as interaction rate! Go read my other post.) But when it comes to comparing platforms to each other in terms of effectiveness, you need an equalizing metric to ensure you’re comparing apples to apples. Rather than apples to plums. (Oranges are tired of being in the spotlight).
Enter your Interaction Rate. It accounts for all the various actions your followers can take with regards to your content. Likes, shares, video views, retweets. The specific actions vary according to platform but the absolute of an action is a follower engaging with a brand.
As I’m sure you’ve heard before, you can have all the followers in the world but they’re as useful as a trampoline with broken springs if they don’t do anything. Please don’t mentally think of your followers as trampoline springs.
Is Twitter more active than Facebook? Is LinkedIn? Where should you spend your time? Your money? An Interaction Rate will help inform the answers to these questions. Do not ignore any platform based on the Interaction Rate. But if Twitter is your most active platform compared to LinkedIn, but it has the smallest audience, perhaps it needs a bit of nurturing.
Brand A Interaction Rates: Twitter v. LinkedIn
In addition to comparing the level of activity across platforms, your Interaction Rate allows you to track trends. Did a recent campaign help boost chatter? Are your followers becoming more engaged as you grow, staying steady? More often than not, brands see an adverse effect with growth — Interaction Rates tend to lower. Normally, this is not a huge worry as, more often than not, a small percentage of a larger number is better than a large percentage of small number. I’ve said this before! In my other post.
In a nutshell:
Once you determine your Interaction Rates, use them to:
- Draw activity comparisons across platforms
- Identify trends
- Inform content and campaign strategy
Then you dig even further — because sometimes, an engaged platform does not mean a channel inherently drives business value. Dun dun duuuuuunn. A topic for another day.