In our hyper-saturated digital landscape with endless inboxes and shorter customer attention spans, mastering your brand‘s Share of Voice (SOV) is the single best opportunity guaranteeing long term growth potential and competitive differentiation for your brand. This is not an exaggeration – rather data-validated certainty based on 10+ years partnering with leading global companies on maximizing their visibility.
This comprehensive 2023 guide brings together everything needed to excel on SOV rapidly like an expert leveraging proprietary tools, frameworks and insights we use here everyday generating results.
By the end, you will walk away with:
- Clarity on what SOV really entails and why it outranks any other marketing metric
- Methods to start tracking your SOV daily across every digital and offline channel
- An integrated playbook combining ongoing brand building with tactical opportunity capturing
- Resources to continually monitor your SOV trajectory fostering sustainable leadership
Let‘s get to dominating.
What Exactly is Share of Voice (SOV) & Why Does it Matter More Than Anything?
At its core, Share of Voice refers to the percentage of overall messaging or content in a particular industry/market owned by your specific brand.
But why does it matter so much?
Share of Voice holds significance for two reasons:
It signals your brand‘s relative visibility, focus and voice cutting through competitors also vying for customer mindshare
It directly fuels business growth, brand lift and overall equity in the market according to exhaustive research:
Brands with above-average SOV:
Brands generating the highest SOV in their category:
This cements SOV‘s direct impact on two cornerstones fueling success: Trust & Discovery. By capturing greater real estate and spotlight across channels, your brand signals quality, reliability and confidence deserving of first choice status in consumers‘ minds. Simultaneously, increased discovery likelihood and exposure opportunities multiply touchpoint potential.
While other indicators like sales or profits do matter, SOV fuels the consistent achievement of these lagging outputs longitudinally. Think of SOV as the "input" driving eventual "output" KPIs by securing initial awareness and nurturing enduring organic evangelism.
How is SOV Different Than Share of Market?
Share of Voice (SOV) and Share of Market (SOM) represent distinctly unique indicators:
Share of Voice spotlights relative visibility, noise & voice
Share of Market shows actual sales performance & profits
To simplify – SOV tracks your Brand Reach while SOM gauges Business Results.
Monitoring your SOV facilitates upper funnel metrics allowing awareness expansion and interest nurturing to eventually harvest market share and sales downstream. High SOV through dominating eyes and ears primes the pump for increased SOM.
For example, even if Nike shoes do not rank #1 in revenue or profit globally, their cultural visibility and voice drastically outstrips nearest rivals. This cements them as the signal North Star brand in their category justified by unparalleled SOV levels.
Now that we‘ve cemented why SOV deserves center stage, let‘s break down tactical methods for tracking this visibility across core marketing disciplines.
How to Calculate Your Share of Voice Step-By-Step
Since Share of Voice centers around your brand‘s relative exposure and discovery opportunities secured, measurement approaches must adapt to media channel nuances:
|Your Content Pieces / All Pieces Published
|HubSpot published 300 blog posts last month out of 1,000 total from all competitor brands -> SOV = 30%
|Your Brand Media Mentions / Total Articles Published
|Samsung gained 15 press citations out of 50 total mobile tech announcements last month -> SOV = 30%
|Your Ad Impressions / Total Impressions
|Nike‘s ads earned 20,000 impressions out of 100,000 total fashion imprintions last month -> SOV = 20%
|Your Search Results / Total Results
|Marriott properties appeared in 30 of 100 total search results for "resort deals" -> SOV = 30%
Tracking your performance daily across these digital channels spotlights visibility trajectories shaping perception plus lead generation.
However optimizing Share of Voice necessitates a holistic outlook incorporating less quantifiable but equally impactful brand building activity.
Let‘s explore the overarching playbook adopted by leading brands for orchestrating high visibility growth.
The Integrated Strategy for Maximizing Your Share of Voice in 2023
Capturing greater SOV requires branding judo blending:
- Ongoing visibility infrastructure development
- Tactical window capturing when opportunities appear
This balances consistent brandew building with seizing momentary openings.
Here is the step-by-step blueprint:
Benchmark existing visibility across channels using previously covered formulas. This quantifies your starting SOV levels across digital and traditional outlets.
Map out performance gaps where competitors currently capture greater spotlight. For example, your brand may secure decent SOV on owned blogs but fall behind on third-party media citations or influencer partnerships.
Develop an integrated content grid spanning visual, text and audio formats based on the gaps identified. Tailor pillar themes and topics to audiences demonstrating highest affinity and engagement.
Extend reach through partnerships with relevant media publications, industry events and category influencers. This amplifies discovery by tapping into their built-in expertise and audience trust.
Stay alert for tactical opportunities like competitors facing PR crises or changes in ranking algorithms you can capitalize on. Move swiftly with prepared responses optimized for whatever current window exists.
Track daily performance and sentiment using monitoring dashboards highlighting engagement rates, viral spread and visibility metrics.
Course correct underperforming efforts continuously while doubling down on what content and partnerships see traction. Build on momentum.
This sustained approach expands awareness and nurtures preference through reliable infrastructure investments paying compounding dividends. Simultaneously, nimbly reacting to emerging opportunities maximizes their temporary but powerful visibility lift.
Now let‘s spotlight the specific utility offered by monitoring tools in capturing a holistic view of your progress.
Top SOV Tracking Platforms Giving You An Unfair Advantage
While manual tracking provides baseline visibility data, you require amplified intelligence revealing viral trends, competitor blindspots and platform variations.
Specialist Share of Voice tools grant thisneeded context via enhanced discovery, listening and reporting functionality.
Here are 5 standout monitoring platforms providing actionable inputs:
|Backlink and content tracking
|Benchmark SEO rankings & alignment opportunities
|Influencer & backlink analysis
|Uncover press and partnership potential
|Monitor brand conversations & sentiment
|Competitor & UGC tracking
|Compare performance & find content gaps
|Quantify owned channel content resonance
Capabilities like above spotlight volume, engagement and sentiment across brands – forming the core ingredients for an accurate SOV evaluation. They showcase not just aggregated performance but crucially complementary or lagging areas needing attention.
For example, Talkwalker could reveal your brand lacks visibility in Eastern European markets that competitors have infiltrated. Similarly Buzzstream might highlight influencer partnerships as an untapped growth lever based on competitors‘ success.
Equipped with holistic inputs, you perpetually optimize resource allocation chasing white space opportunities while consolidating platform strengths. This intelligence fuels continuous incremental improvement.
Now let‘s call out key lessons for enacting this 360 degree approach to owning voice and discussion.
Critical Keys to Locking in Maximum SOV
The overarching insights for capturing greater share boils down to:
Mindset Shift From Chasing Sales -> Fueling Discovery
Remain fixated on expanding reach, seeding interest and nurturing trust above directly chasing conversions and transactions. This longer-term branding approach primes your brand for sustained leadership built atop authentic affinity and care for your audience needs.
Integrate One-Off Campaigns Into Always-On ecosystems
Avoid one-off visibility bursts that inflate but briefly distort the full picture. Build recurring touchpoint opportunities through memberships, communities and mutually-beneficial collaborations spanning media, influencers and industry platforms.
Know Precisely Where Your Audience Spends Time
Stay on pulse with latest platform behaviors and trends to tailor content types and partnerships guaranteeing relevance. For example, maximize video content responding to current medium preference shifts.
Perspective of a Leader Not Chaser
Thinking continually from the mindset of expanding existing voice – rather than trying to catch leaders – produces the creative confidence needed to develop fresh angles others will emulate. You pull others rather than push from behind.
By internalizing the above guide rails focussed on sustainably cultivating visibility traction indicators over transient sales, your organization will lock in the flexible potential necessary to achieve whatever aims lie ahead. SOV builds that crucial yet underinvested engine.
FAQs – Your Lingering Questions Answered
Here I‘ll preempt and respond to common reader questions around optimizing Share of Voice:
Where should I focus first if resources are scarce currently?
Primarily invest into owned channels content grids spanning blogs, video series and podcasts where you control distribution and messaging. This builds a visibility baseline supplementing other efforts.
What time frame should I use for tracking? Monthly averages?
Given typical 2-4 week delays seeing content performance effects, monthly tracking works best aligned to wider marketing campaign cycles. However optimize publishing calendars towards weekly outputs for consistency.
How much SOV is considered "good"?
Aim for SOV level parity with your current sales market share as an appropriate stretch target. Outperforming competitors on voice visibility better ensures customer retention over time.
How long before I see tangible SOV lift converting into sales?
Depending on your business model complexity, it takes on average 6 months for SOV gains to mirror in metrics like lower CAC or expanded revenue channels. But the compound effect over 24 month horizons is exponential.
If any other questions pop up as you assess options for elevating your organization‘s visibility and discussion ownership, drop them in comments below for 1:1 strategic guidance!
- Book a customized SOV workshop tailored to your brand with our team
- Try Buzzstream‘s free trial to uncover press and backlink wins
- Read our in-depth guide on optimizing your organic rankings leveraging partnerships
Now equipped with a complete methodology, templates and resources – the ball is in your court to enact high impact visibility plays cementing preference and unlocking enterprise value. Own the voice demanded from an aspirational leader – through meticulous measurement, non-stop testing and deep customer intimacy.
You‘ve got this! We‘re cheering you on in the background.