Applause Rate is the number of approval actions (e.g., likes, favorites) a post receives relative to your total number of followers.
When a follower likes or favourites one of your posts, she’s acknowledging that it’s valuable to her. Knowing what percentage of your audience finds value in the things you post can—and should—inform your content moving forward.
How to track it:
STEP 1: Add up the total approval actions a post received over the course of a reporting period.
STEP 2: Divide that number by your total followers and multiply by 100 to get your applause rate percentage.
Source: Hootsuite: https://blog.hootsuite.com/social-media-metrics/