Knowing your engagement rate helps you know if you are doing well or need a change of strategy. There are 3 ways to calculate your instagram engagement rate
1. Divide your total number of likes and comments by your total number of followers, and then multiply by 100 to give you a percentage.
That is, Engagement rate = (likes+comments) / followers × 100
This method is appropriate when you want to compare your page to that of your competitor or when you want to engage the services of an influencer, it's best to use this method to calculate the influencer's engagement rate.
2. Divide your total likes and comments by your impressions, and then multiply by 100 to get a percentage.
Engagement rate = (likes + comments) / impression x 100
This method takes into account the total number of people who saw your post, whether or not they engaged on it as long as they say it, Instagram adds it to your impression.
3. The 3rd method includes not just likes and comments but also the number of times your posts were saved.
Engagement rate = (likes + comments + saved) / impressions x 100
The upside of calculating your engagement rate is to know whether or not your audience like your content