What is engagement rate?
Engagement rate actually shows how much shoppers interact with store products. Factors that influence engagement include shoppers' actions to checkout, adding multiple items, adding to the basket, and more. In the digital era, engagement rate is actually a formula that measures the interaction your stores receive relative to reach, your competitors, or the industry at large.
- On social media, the audience can include interactions in the form of comments, likes, and shares.
- For e-commerce stores, engagement rate translates into actual clicks by visitors, time spent on your products page or store, or something purchased.
Konigle has many seller tools that help your store to grow more and by using these tools, you may also increase the engagement rate.
How to improve the engagement rate?
Product: Creating a good quality product is crucial to improving the engagement of your store.
Media: Providing good-quality Images and videos is one of the most engaging content types as evidenced by high shoppers' engagement rates.
FAQ: Answering the shopper's questions provides a good user experience and establishes better relationships with customers.
Deals: Offer the best deals for shoppers to stay on the page and check for more items to purchase.
Experiment, Track, and Analyze: For improving the engagement rate need to experiment with new things, track, analyze, and implement such things in your store.
Engagement rate formula
The engagement rate formula is slightly different between websites, apps, and social media platforms, but it’s actually quite easy.
Website/ store = Engage visitors / Total visitors *100
Before applying the formula, you must fix “engaged visitors” and determine the representative tactics.
Advantages of the Engagement Rate
The engagement rate provides more accurate data on product page performance than simply looking at individual absolute measures such as the number of visitors, proceed to buy, add-on basket, etc
With this, you actually know about which things to be improved in your store to get more conversions. The engagement rate helps you to track the behavior of each shopper.
It also represents customer satisfaction toward the store and can inspire your retention marketing.
What is a good engagement rate for an eCommerce store?
Good engagement rates are depending on the various platforms and store types. Various Marchant measures engagement rates differently because they define them differently. So, you can’t just compare numbers, as the average depends on multiple factors of each store.
But as per the record, On average, B2B stores reach above 63%, and B2C stores see an average of 71%.
To know better what is a good engagement rate for your store, you need to benchmark your eCommerce store against competitors in your sector.