What is a good share of voice?

What is a good share of voice?

There is a strong relationship between SOV and market share. If you have 17% SOV, you can also expect your market share to head towards 17%. That said, you should strive for a higher SOV than market share.

How do you calculate share of voice?

To calculate share of voice for the whole keyword set, multiply the CTR with the average monthly search volume (taken from Google Analytics) for each keyword. This will give you an estimate of how much traffic your brand can expect in the month for that keyword.

Why is share of voice important?

Basically, share of voice helps you understand how popular your brand is compared to all your competitors. While being an incredibly useful metric in itself, it’s been proven that a brand’s share of voice tends to correlate with its share of the market and revenue.

Is share of voice a metric?

Share of voice is a marketing metric that allows you to compare brand awareness on different marketing channels against your competitors. You can use this metric to measure how well your ads, social media mentions, or even website traffic compare to the competition.

What does share of voice mean in marketing?

In digital marketing, the share of voice of an organization (also commonly referred to under the acronym SOV) is usually defined as the share of conversations generated around their brand, products or services on different channels (news sites, blogs, forums, social media, even offline channels) in comparison to its direct competitors.

What does share of voice ( SOV ) mean?

Share of voice (SOV) is a measure of the market your brand owns compared to your competitors. It acts as a gauge for your brand visibility and how much you dominate the conversation in your industry. The more market share you have, the greater popularity and authority you likely have among users and prospective customers.

What to look for in share of voice?

On social, some brands look at share of voice as the amount of social media messages shared about your brand, in relation to all of your competitors. But you can also look at share of voice around a specific keyword or hashtag.

Which is the correct formula for share of voice?

The basic equation to use to calculate Share of Voice is: Your brand’s advertising / The total advertising in the market *100 = your Share of Voice So you can see how, as long as you have the right tools, you can actually figure this out.