What is Share of Voice?
Share of Voice (SOV) is a marketing metric that shows how much visibility (in a percentage) your brand has compared to your competitors.
Traditionally, it was used in paid advertising to indicate share of advertising space. However, it has evolved to represent different forms of brand awareness SEO, social media, and even content marketing. In SEO, share of voice is used to measure your visibility for specific keywords and the clicks it receives.
Essentially, it illustrates your popularity, awareness and place within your in your given industry. So, the higher your SOV the more authority, visibility and popularity you have.
How Is Share Of Voice Calculated?
SOV = Your brand’s metrics / Total market metrics x 100
- PPC: The formula will measure ad visibility and impression share (the number of times an ad could have shown up and how may time is actually has)
- SEO: This measures organic search visibility and how it compares to your competitors.
- Social Media: This is used to measure how often your brand is measured in social media.
- Media: This measures mentions on blogs and websites, and how it is compared to your competitors. It is a great way to uncover which channels to focus on.
Why Is Share Of Voice Important?
By measuring your visibility, you can identify the challenges your brand might face, assess how you’re performing against the competition, and pinpoint areas for improvement. When you know where you stand, it becomes easier to develop a clear strategy for growth moving forward.
Beyond competitive analysis, SOV is valuable for several other reasons:
- Public Relations: Monitoring your SOV can help you assess the impact of your PR efforts, revealing how well your messaging is resonating with your target audience.
- Consumer Insights: SOV offers insights into user behaviours, opinions and preferences that can inform your marketing strategies.
- Campaign Tracking: SOV is helpful in evaluating the effectiveness of specific campaigns, identifying which tactics drive the most visibility and engagement.
How To Increase Share Of Voice
Like any marketing strategy, increasing share of voice involves creating campaigns for your audience. While it is important to communicate your voice and values, your content and messaging should be relevant and provide value that users want to engage with and share. Ensure your content offers insights and information that establishes your brand or website as leaders.
Almost everyone is on social media these days, so it’s a guarantee that your audience is there too. Leveraging social platforms and engaging with your audience is key to expanding your reach and boosting your share of voice.
Lastly, take the time to ensure your website is fully optimised and your content targets relevant keywords. This improves your search engine rankings, making it easier for potential customers to find you.
