Follower growth rate is a metric used to measure the rate at which an individual or organization gains followers on social media platforms over a specific time period. It is expressed as a percentage and provides insight into the effectiveness of social media strategies and campaigns. A higher growth rate indicates a more successful engagement with the audience and potential for increased influence or brand awareness.
The formula to calculate the Follower Growth Rate (GR) is:
\[ GR = \left( \frac{FF - IF}{IF} \right) \times \left( \frac{365}{TP} \right) \times 100 \]
Where:
Let's say the initial number of followers (IF) is 1000, the final number of followers (FF) is 1500, and the time period (TP) is 30 days. Using the formula:
\[ GR = \left( \frac{1500 - 1000}{1000} \right) \times \left( \frac{365}{30} \right) \times 100 \approx 608.33\% \]
So, the Follower Growth Rate (GR) is approximately 608.33% over 30 days.