Engagement rate means the total engagements from the audience that a social media post received divided by the total number of impressions (views) on that post. This value is used to measure the success or failure of a content piece on social media based on an engagement metric such as likes or shares. The calculation formula for this metric is-
Engagement rate= (Number of engagements / Number of impressions) x 100
For example, a Facebook post that gets 10,000 views and 1,000 engagements has a 10% engagement rate.
Your engagement rate indicates how many people are connecting with your brand and how frequently they are connecting. So, a high engagement rate means more people like, share, comment and mention your content. This implies that you have a high reach, influence, and loyalty that eventually converts to more conversions and sales.