Share of voice (SOV) is a critical metric for businesses looking to evaluate their presence and impact in various digital channels, including social media, pay-per-click (PPC) advertising, search engine optimisation (SEO), and public relations (PR). Measuring share of voice can provide valuable insights into how a business is performing relative to its competitors and help identify opportunities to improve engagement and drive revenue growth.
The aim of this article is to explore the concept of share of voice, its significance, and effective techniques for measuring it in social media, PPC, SEO, and PR.
What is the share of voice?
Share of voice is a metric used to calculate the percentage of a particular brand's exposure compared to the overall direction of its competitors in a given market or industry. In other words, the share of voice measures a brand's presence in the market and compares it to the company of its competitors.
There are several ways to measure the share of voice in digital channels, including social media, PPC, SEO, and PR. Each channel has its unique set of metrics and methods for measuring SOV.
For instance, in social media, the share of voice is calculated by monitoring and analysing the number of mentions, engagements, and conversations related to a particular brand compared to its competitors. This metric helps brands understand their position in the market, identify potential influencers and brand ambassadors, and improve their social media strategies.
Why is share of voice important?
Measuring the share of voice is essential because it helps businesses understand their market position relative to their competitors. In addition, it provides insights into how much exposure a brand receives and whether it is keeping up with its competitors.
For example, a business with a high share of voice in social media may reach more potential customers and generate more engagement than its competitors. Conversely, a company with a low share of voice may need to adjust its social media strategy to improve its visibility and engagement.
Measuring share of voice in social media
Social media is a crucial channel for businesses to connect with customers and build brand awareness. Measuring the share of voice in social media can help companies understand their market position and identify opportunities to improve engagement.
To measure the share of voice in social media, you can use social media listening tools to monitor and analyse mentions of your brand and your competitors' brands. You can then calculate your share of voice by dividing the number of mentions of your brand by the total number of mentions of all brands in your market or industry.
Measuring share of voice in PPC
Pay-per-click advertising is a popular digital marketing channel that allows businesses to reach potential customers through targeted ads. Measuring the share of voice in PPC can help companies to understand how much exposure they are receiving relative to their competitors.
To measure the share of voice in PPC, you can use tools like Google Ads or Bing Ads to compare your impression share (the number of times your ads are shown) to the impression share of your competitors. You can then calculate your share of voice by dividing your impression share by the total impression share of all advertisers in your market or industry.
Measuring share of voice in SEO
Search engine optimisation is the process of optimising a website to rank higher in organic search engine results pages (SERPs). Measuring the share of voice in SEO can help businesses understand their visibility in search results compared to their competitors.
To measure the share of voice in SEO, you can use tools like Ahrefs or Semrush to analyse your website's rankings and compare them to your competitors' rankings. You can then calculate your share of voice by dividing the number of keywords your website ranks for by the total number of keywords that all websites in your market or industry rank for.
Measuring share of voice in PR
Public relations is the practice of managing a business's reputation and relationships with the media and other stakeholders. Measuring the share of voice in PR can help companies understand their media visibility compared to their competitors.
To measure the share of voice in PR, you can use tools like Meltwater or Cision to monitor and analyse media coverage of your brand and your competitors' brands. You can then calculate the percentage of media coverage your brand has received compared to your competitors' brands. This can help you understand your brand's influence in the industry and how much attention you get from the media.
Why measuring share of voice is crucial for understanding your brand's market position
The share of voice is an important metric that can help you measure your brand's performance and influence in various channels, including social media, PPC, SEO, and PR. Using the right tools and techniques, you can track and analyse your brand's share of voice and identify opportunities to improve your marketing strategies.
In social media, measuring the share of voice can help you identify your brand's position in the market, monitor conversations and engagement around your brand, and identify potential influencers and brand ambassadors. In PPC, measuring the share of voice can help you understand how well your ads are performing compared to your competitors' ads and identify areas for improvement. In SEO, measuring the share of voice can help you identify the keywords your competitors are ranking for and help you optimise your content to rank higher in search results. Finally, in PR, measuring the share of voice can help you understand how much media coverage your brand is receiving and how it compares to your competitors' coverage.
Share of voice is a valuable metric that can help you make data-driven decisions and improve your marketing strategies. Whether you are focused on social media, PPC, SEO, or PR, measuring your brand's share of voice can help you stay ahead of the competition and achieve your marketing goals.
