Measuring the right metrics in social media marketing is very important. Brand marketers already know a lot about competition analysis wherein they see how their industry competitors are performing. The practice of measuring a brand’s Share of Voice is not new but not many know its significance in digital marketing.
In this blog, we will learn all about Share of Voice or SOV as it is fondly referred to. Some common questions about Share of Voice are-
- What is Share of Voice?
- How to measure Share of Voice?
- What data does Share of Voice provide?
- Why is Share of Voice important?
What is Share of Voice?
Share of Voice is a concept that is a part of competition analysis. Brands and businesses compare their industry rivals to see where they stand but with Share of Voice, you will be able to analyse the conversations around your brand. This analysis will help you measure how your brand is being perceived on different social media platforms as compared to the competitors. SOV will help you understand your online visibility as compared to your competitors.
The aim of this metric is to help you gauge your brand’s position in the industry as compared to the competitors.
Why measure Share of Voice?
Share of Voice in marketing has always been there but its importance is felt now more than ever because of the cutthroat competition on social media. Every brand/business has competitors but to simply compare the number of likes, comments, and shares is not enough. Share of Voice gives you deeper insights into whether your marketing strategies are being consumed by the users effectively.
Moreover, it will also bring to the surface flaws and weaknesses of your strategies in comparison to your competitors. This is why this metric is all the more important now.
Measuring the SOV will tell you whether your brand goals and objectives are achievable with a particular strategy. Furthermore, it will help you figure out what is getting your competitors the desired results.
It is crucial to measure Share of Voice because it tells you a lot about your audience too which is the crux of every marketing strategy. Brand marketers will come to know what kind of audience is talking about their brand and whether their target audience is responding to the campaigns as predicted.
Measuring Share of Voice is not enough, one needs to analyse it deeply to get to the root. In the next section, we will learn how to measure this metric.
How to measure Share of Voice?
Now that we know what is SOV, let’s see how to measure this useful metric. There are several Share of Voice tools in the market that are dedicated to this feature. Most competition tracking tools offer a Share of Voice solution. Measuring Share of Voice on the Unbox Social tool is extremely easy and effortless. The tool also has graphs to help you understand and decode the SOV results better.
Step 1- Login with your credentials on the Unbox Social tool
Step 2- Enter the Competition Tracking solution
Step 3- Create your Competitors bucket list
Step 4- Check the Overview section for the Share of Voice metric
In just four steps, you will be able to get the Share of Voice for your brand.
Share of Voice, in general terms, can also mean to identify the voice of the audience. Make sure you keep a check on the mentions, tags, and comments to know more about real-time SOV.
Now that we know how to measure SOV for social media, let’s look at what data you will be able to retrieve from this metric.
What data does Share of Voice provide?
1. Brand’s position in the industry
With the help of SOV, you will be able to see your brand’s position in the industry. Moreover, it will tell you where your brand stands in comparison to the competitors. This will help you figure out your future brand goals and objectives.
2. Helps you understand what the audience feels about your brand
The Share of Voice tells you about the interactions your content has received in comparison to your posts. The same aspects get compared with other brands. This will tell you which brands are receiving the highest number of interactions and what is their post consistency.
Analysing these aspects will give you a clear picture of where your brand is lacking.
3. Tells you who is leading in the niche
When you compare your brand with your industry competitors, SOV tells you which brand is fetching the highest interactions and who is posting the maximum. With the help of these minute details, you will be able to frame better social media strategies.
4. Gives you an account of how your content is being perceived
The Share of Voice feature compares the number of posts and the interactions received. If you are posting frequently and still not receiving desired interactions, that means you need to rework your content strategies. Likewise, if you have a few posts and more interactions, it simply means your strategy is right on point.
The above-mentioned points can be the backbone of your social media strategies because it tells you what the audience feels about your brand.
Well, before you sign off, here are some tips to improve your brand’s Share of Voice.
Tips to Improve Your Brand’s Share of Voice
1. Focus on content creation
To improve your brand’s SOV, it is important to focus on curating unique and engaging content. This is the only way to get interactions. Make sure you are always updating your content strategy and keeping a close eye on social media trends. Moreover, it is also important to include the new features of social media platforms like Instagram Reels, YouTube Shorts, and Twitter Fleets.
2. Conduct keyword analysis regularly
To make your content game strong, keywords are extremely important. See to it that you conduct regular keyword research and analysis. This will also help in increasing brand reach. Moreover, if you are aware of the trending keywords it will act as a base foundation to curate content.
3. Experiment with content formats
There are several social media platforms that offer multiple content curation features. Make sure you don’t stick to one single format. This will not only make your content strategy monotonous but will also diversify your content presentation. Having variation in content also increases the possibility of increasing brand awareness and engagement thereby improving SOV.
4. Create posts that are relatable and shareable
Social media posts need to be relatable only then will they get some kind of interaction. See to it that your brand forms a bond with the audience with posts that are shareable and provide some value.
5. Create content that tells more about your industry as a whole
Brands often post only about their products and services and this can be a bit monotonous in the long run. Try and post something about your niche as a whole because that will also give you an upper hand among your competitors.
Hope this blog helps you with Share of Voice. Want to learn more about social media marketing? Read the blogs below-