SOV (Share of Voice)

What does SOV mean? 

SOV stands for Share of Voice and is a measure of your brand’s visibility as compared to that of competitors. It showcases your dominance of a marketing channel and your overall market position. However, the concept of share of voice is vastly different from market share. While SOV measures the percentage of times your brand is seen or heard on a platform, market share indicates the percentage of sales your brand conquers. Market share is important from a revenue perspective, but SOV is vital for brand awareness. 

To measure share of voice, you will need to find your share of website traffic/clicks/mentions/ad clicks or any other metric you value as a brand. Here's a straightforward formula to compute SOV: 

Now, you understand the meaning of SOV, let’s uncover strategies to boost your SOV and authority in the marketplace. 

How to boost your SOV 

To increase your share of voice, a multichannel approach to marketing can do wonders: 

• Accelerate your social media marketing. Optimize your social media accounts, follow a posting schedule and keep your audience engaged. 
• Prioritize SEO (search engine optimization). Improve your website architecture, mobile experience and loading speed, plus publish search engine-friendly content. 
• Formulate a robust advertising strategy. Segment your audience, targeting the right ads to the right segment at the right time for maximum reach. 
• Double down on content marketing. Build a content calendar and develop all kinds of content (blogs, videos and webinars) that appeal to your audience. 

With this multi-pronged approach, amp up your PR, email marketing and customer feedback management to achieve a higher SOV.