Add Share of Voice to Your List of Marketing Measures
Are you familiar with the importance of Share of Voice (SOV)? Consistent, accurate measurement of SOV provides valuable insights for leaders on the business environment – but if you fail to measure share of voice accurately, you may not get the full picture.
To start, what is share of voice? HBI PR & Marcom explains that the Share of Voice definition is a marketing measure that describes how much consumer conversation surrounds your brand versus your competitors. Online, this includes organic search, PPC (pay per click) and social media.
HBI PR & Marcom outline what you can learn from share of voice metrics, as well as several specific measurement methods on their blog:
Ways to Measure Share of Voice
Measuring SOV with specific keywords provides context for how consumers discuss a brand and their competitors. For example, an automaker may research the keyword “security” to identify what car models make customers feel secure. Additional relevant keywords may include style, reliability and cost.
How can these results help measure your success towards goals? Keyword searches are particularly useful for assessing product awareness. Furthermore, keyword searches can also recognize if and how the public perception of the product has changed.
Location-based Share of Voice
SOV filtered by location identifies which regional markets are most familiar with the brand. This information can make location-based social media content more relevant and help identify market trends.
Comparison of Impressions and Reach
Share of voice typically assesses the percentage of mentions of a brand across posts. This measurement does not show how many individual users are talking about the brand, however, or how many followers users have. Because of this, businesses should compare potential impressions and reach. To clarify, potential reach measures how many people have the potential to see the post mentioning the brand, whereas impressions measure the actual number of views that occurred.
Brands can measure share of voice from brand identification metrics, hashtags and linked posts as well. Learn how to measure SOV for those elements on HBI PR & Marcom blog post.
HBI PR & Marcom have over 30 years of experience and specialize in communications around technology products making them specialized in communications around technology-related topics for over 30 years. They have extensive experience in traditional PR, social media, marketing and seminars and have worked with a huge scope of companies ranging from start-ups to global groups and local SMBs. Some of the world’s best-known brands entrust their communications to HBI’s expertise. The agency strives to introduce and establish emerging companies selling innovative products or services in the German-speaking market. Today they support customers from the whole area of technology – business-to-business, consumer electronics and industrial IT. They also have clients in other sectors, such as consulting, hospitality, healthcare, engineering as well as transportation.