Brand marketers keep a close watch on how many followers they manage to gain over a period of time. Similarly, brand managers are keen to know how many likes their brand content gets. These are surely some important metrics to keep a track of but there is more to measuring the social media performance of a brand than just likes, follows, and shares.
Competition tracking is a crucial aspect of social media marketing. In competition tracking and analysis, you can compare how your industry competitors are performing on social media as compared to your brand.
Share of Voice or SOV is one of the most crucial metrics to track in competition tracking and analysis. Often brand marketers ignore this metric and lose sight of some credible in-depth data.
Share of Voice analysis can give you useful insights on how your brand is performing in comparison to the industry rivals.
In this blog, we will give you tips on how to boost your brand’s Share of Voice on social media.
(Those who are well aware of this metric can skip to the crux of the blog while others can take a look at the sections below for a better understanding of Share Of Voice)
What is Share of Voice?
Share of Voice in marketing enjoys great significance. This particular metric tells you the position of your brand on social media as compared to your industry competitors. Share of Voice in totality is not restricted to just social media, it can also include several SEO aspects that determine a brand’s position digitally.
However, in this blog, we will only focus on Share of Voice in social media marketing.
Measuring SOV also tells you how much of the brand conversations are dominated by your brand as compared to the competitors. This will help you measure whether you need to work on your brand’s online voice.
Why is Share of Voice important?
The importance of Share of Voice lies in its insights that tell you where your brand needs to work on and what is your brand’s current position amongst the competitors. The metric reveals the challenges you must resolve in order to achieve a set brand position in the market.
This data can help you frame effective strategies that are in tune with what you want to achieve for your brand.
Share of Voice analysis is necessary to reveal how well your competitors are leveraging social media and what’s their standing in the industry.
Now that we have a basic understanding of why SOV should be a part of your analysis framework, let’s see how you can improve this metric for your brand.
How to Boost Your Brand’s Share of Voice?
1. Focus heavily on your social media content strategy
In order to start a conversation about your brand on social media, it is first important to create content that’s worth talking about. Make sure your social media content strategy is strong enough to compete with your rivals. The content you create for your brand must be shareable. Additionally, see to it that the posts you put encourage the audience to engage with your content. This can be a game-changer for your Share of Voice.
2. Be consistent on social media
Staying consistent and relevant on social media can work wonders for your SOV score. Make sure you keep consistency on the social media platforms you are active on. This does not mean you keep posting randomly all day. Check the best time to post on social media analytics tools and figure out what kind of content your audience engages with the most. Once you have the required data, schedule your content smartly to get the maximum benefit out of it.
3. Add a subordinate to your social media marketing plan
Adding another marketing element to your social media strategy can help you boost Share of Voice to a greater level. Simply relying on social media might give you a roadblock if all your competitors are implementing several other marketing strategies. Make sure you support your social media marketing plans with email marketing, paid ads, and other such techniques. This will help you broaden your brand reach and will impact your SOV score positively.
4. Collaborate with influencers to market your brand
Social media has opened several avenues to put forth your brand in front of the audience. Influencer marketing can accelerate the brand reach massively which can help in increasing the SOV score too. Brands can team up with social media influencers to encourage a conversation around the brand. This will also help you reach your target audience.
5. Be prompt to answer your customers on social media
Social media is no longer just a channel for communication and marketing. These channels are now also a platform for users to convey how they feel about a particular brand, product or service. Make sure you don’t ignore customer grievances or comments on social media because this can lead to negative public sentiment. Answer their doubts and take their compliments and complaints seriously!
How to Measure Share of Voice?
The best way to measure Share of Voice is to rely on a competition tracking tool like Unbox Social. This tool has a dedicated solution for tracking competitors which also includes Share of Voice.
Unbox Social allows you to compare 10 brands in one go and gives you in-depth data for the same which includes Share of Voice as a part of the reports!
Hope this blog will give you some ideas on planning your content strategy to increase Share of Voice! Check out the blogs below for more information on competition tracking and analysis.