Did you know that having more Likes does not always mean that your Facebook campaign is doing well?
Other factors like your Page Tier, Page Engagement and Talking About This Rate are just as important, if not more so. While these buzzwords are commonly used by social media advocates, not many are aware of what they truly mean or how they are measured. With ihub Media’s iAnalytics tool, we will explain how your brand can gain a more accurate understanding of your social data, reach, penetration and overall engagement performance in order to generate real business revenue.
Since Facebook has irrevocably shaped the way brands are marketing themselves, it is not an exaggeration that most businesses are already on it. As your social media activities are distributed on your Facebook Page, Ads and Apps, it is significant to have a holistic and accurate overview of the health of your online marketing efforts.
There are several ways to measure the level of engagement for your Facebook Page. Let us begin by expounding some of the metrics we use:
• Likes Base: refers to total number of fans on your Page, at any given time.
• Talking About This (TAT): refers to number of unique people who have created a story about your Page in the last 7 days.
• Talking About This Rate (TAT Rate): Talking About This⁄Total Likes Base
• Social Actions: refers to total number of posts, post Likes, Comments and Shares.
• Page Engagement: Social Actions⁄Total Likes Base
Where to find your LikesBase and Talking About This statistics.
With these definitions in mind, the next question to ask is, What are the common mistakes when interpreting Facebook engagement metrics?
#1: Comparing brands across different Tiers
To gauge your placing in the social media arena, it is important to track your Engagement Rate and compare it with others within your tier. The tier system, which is part of iAnalytic’s strategic feature, separates the heavyweight fighters from the lightweight ones. iAnalytics assigns brands to a tier based on the total number of Likes on their Page. The higher the tier, the wider its Like base.
Brands should be cautious who they’re comparing themselves against, because a comparison that is made far across the different tiers will most likely generate inaccurate or irrelevant results and analysis. Most engagement formulas make use of the Total Likes Base as a divisor, so when you compare a Page that is out of their tier, you risk making an unfair comparison as shown in the example below:
G2000 Singapore, which is of a lower tier as compared to Charles & Keith, outperforms the larger Page despite having fewer Social Actions. Its Page Engagement stands at a high 0.27% as compared to Charles & Keith’s 0.15%.
Furthermore, G2000 Singapore’s TAT Rate is almost twice that of Charles & Keith, although both brands have comparable Talking About This scores. While the statistics may show that G2000 Singapore is the clear winner among the two competitors, it is an unequal match between the two since the size of their Likes Base differs considerably.
#2: Measuring Engagement using only Talking About This figures
Facebook provides Talking About This statistics for all Pages. More often than not, brands would conveniently use this figure as a measurement of their Page’s overall engagement levels. The Talking About This figure represents the number of people who have created stories about the Page in the last week.
Stories are created when users Like the Page; post on the Page Timeline; Like, Comment, or Share; answer a Page Question; RSVP to a Page Event; mention the Page; tag the Page photo; Check-in or Recommend a Page location. While all this measurement speaks volumes about the level of interaction between the brand and its fans, a more effective tool to evaluate Page engagement would be the Talking About This Rate.
More than just the TAT, the TAT Rate measures the Page’s overall performance in terms of Like recruitment and the frequency of user interaction against its Total Likes Base. With this, you get a fairer comparison between the brands.
Let’s take a look at the example below:
Both Lipice SG and Hada Labo SG have similar TAT Rates of about 2.3%. However, Hada Labo SG’s Talking About This score is almost 4 times greater than that of Lipice SG. Hada Labo SG, which is in Tier 2, has a larger Likes Base than Lipice SG, which is in Tier 1. This means that to achieve the same TAT Rate as Lipice SG, Hada Labo SG has to have a significantly larger Talking About This Figure.
As seen from this example, the TAT Rate is a more straightforward way to evaluate a Page’s recent overall engagement performance, as well as a more accurate measurement of engagement compared to the Talking About This score.
So which Facebook engagement metrics do you prefer to use? Let us know in the comments below.