What is Share of Voice (SOV)?
SOV is a key performance metric that measures a brand’s visibility and dominance in a specific market compared to its competitors. It represents the “share” of the conversation or advertising space your brand controls.
Formula & Example
A common formula is:
SOV = (Your Brand’s Visibility Metric / Total Market Visibility Metric) * 100
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Example: If your brand’s ads had 100,000 impressions in a month and the total impressions for all competitors in your category was 500,000, your SOV would be 20%.
“Who, When, and Where”
- Who tracks Share of Voice: This metric is crucial for brand managers, PR professionals, and senior digital marketers who are responsible for competitive analysis and brand health.
- When is it measured: SOV is typically measured at regular intervals (e.g., monthly or quarterly) to track a brand’s position in the market over time and to evaluate the impact of major campaigns.
- Where is it measured: It can be measured across multiple channels: on social media (tracking brand mentions), in SEO (tracking keyword rankings vs. competitors), and in PPC (tracking ad impression share).
Significance
SOV is a crucial indicator of brand awareness and competitive standing. A high SOV often correlates with higher market share. Monitoring it helps brands understand their position in the market and identify opportunities to grow their presence.
How to Improve SOV
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Increase investment in advertising (PPC) or PR.
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Improve SEO to rank for more high-value keywords.
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Create engaging social media campaigns to boost mentions.
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Analyze competitor gaps where they have a low SOV.