What is Share of Voice? The 'Fame' Metric You Need to Know

What is Share of Voice? How to Measure Your Brand's Fame

These days, brands that aim to succeed can no longer rely solely on advertising. Building brand awareness and owning media space are key to keeping a brand top of mind for customers. This is why "Share of Voice (SOV)" has become a key metric that marketers worldwide prioritize. If your brand is just a small voice drowned out by the larger competitors, it will be hard for customers to remember and choose you over other brands. Many brands, therefore, choose to collaborate with a specialized digital marketing agency to strategize and maximize their SOV effectively.

What is Share of Voice (SOV)?

Share of Voice (SOV) refers to the proportion of communication your brand has compared to competitors in the market. It calculates how much your brand is present or communicating with consumers through various channels compared to others in the same industry. This can be measured through several communication channels, such as:

• Paid Media: The percentage of your advertising budget spent on paid media compared to competitors in the same industry. Investment in these media channels reflects your brand's ability to reach consumers through paid platforms.
• Owned Media: The number of website visits or engagement on your brand’s social media, such as likes, shares, or comments on your posts. This engagement helps measure how your brand is interacting with and responding to customers.
• Earned Media: The number of articles, reviews, or mentions of your brand in the media or by consumers without any paid promotion. Mentions in the press or reviews from consumers contribute to building credibility and increasing brand recognition in the market.
• SEO (Search Engine Optimization) and Search Visibility: The share of visibility in search engine results, like Google, when people search for terms related to your brand or product. This measure shows how frequently your brand appears in search results compared to competitors in the same industry.

The Importance of Share of Voice

Measuring Share of Voice (SOV) is not just about gaining an overview of a brand's communication in the market but also holds significance in various aspects that can be applied to improve marketing strategies effectively. These include:

Assessing the Brand's Market Position

Calculating SOV helps a brand understand its position relative to competitors. A high SOV means that your brand has better communication and visibility in the market, which reflects the strength of the brand in terms of marketing and creating awareness among the target audience.

Reflecting Growth Opportunities

Studies have shown that brands with a higher SOV compared to their competitors tend to have greater growth potential in the market. A higher SOV allows brands to increase their market share (Share of Market, or SOM) at a faster rate.

Enabling More Accurate Marketing Strategy Planning

Having clear SOV data allows a brand to plan its marketing strategies more effectively. For instance, analyzing SOV can help a brand decide where to increase its advertising budget or how to adjust its SEO strategy to improve visibility in Google search results. Additionally, it can assist in deciding how to create content or campaigns that generate more engagement from the target audience.

How to Calculate Share of Voice

Share of Voice = (Brand Reach / Total Market Reach) × 100

For example, let’s assume Brand A (your brand) competes with Brands B and C in the same market, and you want to calculate the SOV for Brand A in this market.

Data used for calculation:

• Brand A Reach = 50,000 (e.g., website visits, mentions in media and ads)
• Brand B Reach = 40,000
• Brand C Reach = 30,000
• Total Market Reach = Brand A + Brand B + Brand C = 50,000 + 40,000 + 30,000 = 120,000

SOV Calculation:

Share of Voice = (50,000 / 120,000) × 100 = 41.67%

From this calculation, Brand A will have an SOV of 41.67%, meaning your brand has 41.67% of the communication and visibility in the market compared to the two competing brands. This SOV value helps you assess your brand’s position in the market and refine your marketing strategy accordingly.



How to Increase Share of Voice to Enhance Brand Recognition

Maximize advertising budget

Investing in advertising plays a crucial role in increasing SOV. Strategies like Programmatic Advertising or Targeted Ads help enhance efficiency by reaching specific target groups, reducing advertising costs, and maximizing results. This approach ensures that the brand appears in the right places and attracts more attention.

Create high-quality content that appeals to the target audience

Developing high-quality content that resonates with the target audience can significantly boost engagement and brand mentions. For example, creating engaging video content or utilizing influencer marketing to promote the brand can create a larger impact.

Leverage social media

Social media is a powerful tool for increasing SOV. Posting content that aligns with consumer interests, responding to inquiries, and interacting with followers help increase engagement and strengthen the connection between the brand and its audience.

Improve website ranking in search results using effective SEO techniques

SEO is another critical strategy to boost SOV. By optimizing website content and using keywords relevant to the target audience, a brand can increase its visibility and ranking in Google search results. Higher visibility leads to increased reach among the target audience.

Encourage earned media

Earned media, such as product reviews on blogs, customer experiences shared on social media, or word-of-mouth recommendations, helps create widespread awareness and builds trust in the brand. Encouraging positive mentions through the media or customer experiences can sustainably increase SOV.

Share of Voice is an important metric for marketing strategies as it helps brands understand their position in the market and serves as a guide to adjust strategies for increasing visibility and market share. Increasing SOV doesn't always mean spending more money, but rather using the right strategies to achieve effective results. This is why many brands choose to consult with an experienced digital marketing agency to plan the most cost-effective use of their budget and resources.