Assessing the levels of engagement between corporations and consumers via social media is obviously an important business in this day and age, and the methods of doing so are perpetually in flux. Currently, Facebook's Engagement Rate is found by adding a page's 'Likes', 'Shares' and 'Comments' together, dividing that figure by the total amount of fans that page has and then multiplying by 100.
As Wisemetrics point out, this formula is flawed in that it finds how engaged a page's 'fans' are with its Facebook content; it ignores friends of fans and the further potential reach that active fans can provide. In short, it is biased towards the pages with the most fans and marginalises the assistance that fans provide companies when they interact.
The new metric given by Socialbakers.com adds another facet to the equation. Before dividing the total number of 'Likes', 'Shares' and Comments', one should first divide that figure by the number of wall posts made during the period one is measuring user engagement for. The formula can also be altered slightly to work for Twitter and Google+. On the other hand, Wisemetrics believes that, in addition to 'Likes, 'Shares' and 'Comments', we should also include photo views, video plays, link clicks, quotes when assessing user engagement.
They also suggest that page admins then divide that figure by the number of posts made within the selected time-frame; the resultant figure should be divided by the number of 'Users Reached' as opposed to just the number of fans a page has. Either way, after all that division, you should multiply it by 100 once more.
Both equations aim for more nuanced results than the metric previously settled upon and should be a great help in providing companies with less biased data.
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