Calibrating the Battery After Replacement

I recently replaced the battery in my mid-2012 11in MacBook Air. It does not appear to be holding a charge. For instance, the charging cable's green LED will indicate a full charge, but when I remove the cable, the battery percentage immediately drops to 95%-96%. The battery is also draining at about 1% every 2-3 minutes.

I calibrated the battery correctly - or so I think - after I replaced it. I've also let it drain completely multiple times before recharging.

Any suggestions?