Is the share of voice the major KPI to measure brand’s online presence?
What is the Share of voice?
Share of voice (SOV) is considered as a unit to scale your advertising share compared to competitors. Nevertheless, with most marketing budgets now invested for visibility on channels like social and search, we can consider it as a presence indicator of your brand on the market.
Market share and SOV are very related. The SOV will often be equal to the market share of your brand.
However, the investment that you make on communication won’t necessarily increase your SOV. It’s about tracking key indicators of the market such as advertising types and promotional activity of your competitors in order to emphasize your marketing’s investment effort.
How to measure your SOV?
One of the ways to track it is provided by Google Ads, but it will never be more accurate than third-party tools.
Impression share (IS) is the percentage of times your ads were shown, out of the total impressions it could have received based on your targeting.
This metric is very important and useful for marketing teams, however it needs to be contrasted with your ads targeting.
Other aspects also need to be controlled on a more global level, and also compared to other brand’s strategies.
Why is the share of voice so important to your business?
The impact of the content, as well as his diversity are key indicators that are defining the interaction between consumers and your brand.
Therefore, the quality of the content you are producing will determine the interest of consumers and lead them to know better your products and your targeted audience to buy your products.
If you want to stay ahead of your competitors, what is important to know is: how people reacted to this content compared to the one of your competitors.
Your SOV will give you an overview of your brand’s awareness, and it will guide your marketing decisions, allowing you to determine and improve marketing investments and ROI.
6 tips to improve your share of voice
If your company is growing, you don’t only want to maintain your share of voice, but also to increase it, and even though it could be more difficult than the past, numerous ways to do it still exist.
- Try to use other content format
Yes there is a huge quantity of banners on all the e-retailers web pages, and even though there is more and more different contents in order to promote your products online, try to spot the one that highlights your products and offers. - Use other marketing channels
I heard that there was a time where people did not receive 300 emails a day, I hardly believe it but… when mailboxes did not exist, you would have had more share of voice than now, but if you try Facebook messenger, you could have a bigger one. - Tell better stories
Have you listened to debates on how stories made contents alive?
It is true! It is another key factor of content marketing , it used to work because it was not advertising, because it really rewarded people for their attention, as good as a storytelling would. - Partnerships with influencers
Do you want more people to talk about your brand and contents ?
Try to offer influencers (not necessarily the biggest) partnerships, in order to make your content or brand more reliable. The SOV is often a key indicator for an influence marketing program. - Get insights on the content that is performing and which is not
Not every content works, some are not useful.Some parts of it sometimes go down, but also we can get very good exposure.
Therefore, if you want your content to improve your share of voice, the use of third party tools in order to measure the effectiveness of your campaigns is a must. - Invest in the content promotion
In many ways, the share of voice is the ultimate promotion content measure. The content purpose is to be “read” or “consumed” (or interact with) and the promotion content is spread in order for it to target the “ideal audience”.
The share of voice measures the proportion of your audience who sees and speaks about your content and how your content marketing program is efficient compared to your competitors.
How to measure your share of voice?
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