Share of Voice

Share of Voice is sometimes referred to as share of market, meaning the space you own in your market compared to your competitors. Share of Voice calculates the efficiency of your marketing and reveals your visibility online.

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FAQ

What is Share of voice

Share of Voice is sometimes referred to as share of market, meaning the space you own in your market compared to your competitors. Specifically, SoV calculates the efficiency of your marketing and reveals your visibility online.

How to calculate your Share of Voice?

As digital marketing has grown, so too has the metrics we need to consider in order to determine a true SoV online.

The simplified equation for figuring out SoV is:

Your brand advertising / Total market advertising = Share of Voice

The good news is that with all the analytics tools now at our disposal, free and otherwise, we have a wealth of accurate data to work with.

Share of Voice

Measuring Share of Voice is a great way to understand how your marketing efforts are paying off. But you can also use this insight to improve your strategy and win more share!

In traditional marketing terms, share of voice is a metric to judge the percentage of brand or product mentions across ad formats like billboards, TV, and print ads. It was used to judge how effective your marketing has been. So, if you spend a certain amount on marketing, you expect to achieve a share of voice proportionate to that. In modern marketing, the application of this metric to offline advertising can be very imprecise, but it works very effectively in an online context. It’s possible to accurately measure the share of voice across social media, paid search, and organic search.

For SEO, share of voice – sometimes referred to as ‘share of search’ – is an incredibly useful metric which allows you to find out more about your target market, monitor your performance, and measure the impact of optimisation efforts.

Share of voice can help in a number of ways:

  • Market intelligence. Share of voice can tell you how much a target market is worth, and tell you which of your competitors have the greatest share of search visibility.
  • See how much share you have in the market. Share of voice allows you to see your own performance in your target market, and assess the areas where content is performing well, and where you can improve your share.
  • Monitor performance. Tracking your share of voice over time can be a useful metric for internal reporting, and can help alert you to possible issues to address – a drop in visibility may indicate negative performance due to an algorithm update.
  • Assess the impact of campaigns on search visibility. If you run marketing campaigns with the intention of driving search traffic, from content to TV ad campaigns, share of voice can be used to measure the impact.

Share of voice is a valuable metric which gives you some great insight into how your brand is performing. Using Pi, you can measure your own share of voice, assess your target markets, and competitor performance.