Understanding the answers to these questions will help you identify opportunities to improve and set your brand apart. Which brand is dominating the conversations in your industry? How much share of voice do they have compared to yours? Where are the conversations happening? And what’s the sentiment around those conversations? Using SOV calculation, you can find out exactly where you stack up to the competition. Identifying their strengths and weaknesses will help you develop strategic ways to catch up or get ahead. Knowing your competitors is the key to setting your brand apart. For example, if you run a skincare line, there are people who’ve always wanted to use your products but would prefer fragrance-free versions of them Competitor research Moreover, you may even be able to identify opportunities to reach untapped audience segments. Or perhaps your competitors have a website that’s a lot more intuitive than yours and they offer better shipping options. For instance, maybe your products are more budget-friendly or your customer service is exceptional. With share of voice data, you may be able to identify exactly why people are choosing your brand over the competition or vice versa. Sprout Social’s social listening tools are one way to gain these insights from customer conversations. They look at what people are saying about a certain brand or topic and use that information to determine consumer opinions and preferences. Social media share of voice metrics extract insights from authentic conversations that are happening on social media.
There are plenty of areas where calculating your share of voice benefits your business: Audience insights It adds context to your performance data, allowing you to pinpoint opportunities for growth and improvement. Measuring your brand’s share of voice helps you see the bigger picture and where your brand fits into it.
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While SOV typically referred to a brand’s share of paid advertising in a competitive marketplace, it has a broader definition that can include various elements of digital marketing and advertising, including mentions on social media and traffic for certain keywords.īy knowing your SOV, your brand has a better understanding of the challenges and your current position in the market, giving you more insight into how to achieve growth and captivate users. The more market share you have, the greater popularity and authority you likely have among users and prospective customers. It acts as a gauge for your brand visibility and how much you dominate the conversation in your industry. Share of voice (SOV) is a measure of the market your brand owns compared to your competitors. How to increase your share of voice on social media.What you can measure with share of voice.In this post, we explore this metric in-depth and show you ways you can build up your share of voice on social media and other channels. It puts all of your other social media metrics into context so you can understand where your brand stands.ĭoes your brand come up in relevant conversations about the type of products you sell? Do people consider your company a leader in the industry? If not, you might have a problem with your brand’s share of voice. Share of voice (SOV) is a metric that illustrates your place in the market, making it a great place to start. Which metrics matter to you and which ones should you focus on? The sheer amount of performance data available often leaves marketers overwhelmed. As brands find new channels and avenues to promote their products, there’s no shortage of data to track and measure.
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