Share of Voice
Competitor Benchmarking
Assess a brand's visibility relative to competitors and gain helpful strategic insights.
Audience Reach Analysis
Assess how effectively the brand engages the target audience on major social networks.
Market Positioning
Identify market standing and adjust brand messaging for marketing channels accordingly.
Content Impact Evaluation
Track content performance across channels to refine messaging across marketing efforts.
Why Share of Voice Is Important
Calculating Share of Voice (SOV) is critical to understanding how often a brand appears in its market compared to its competitors. It indicates how effectively the brand reaches its intended audience. By tracking social media mentions on major social media platforms and performing sentiment analysis, this KPI helps pinpoint areas where a brand leads or falls behind in market presence.
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How Share of Voice Relates To Other KPIs
Marketing metrics like Engagement Rate and Brand Awareness complement SOV to highlight how effectively a brand’s visibility connects with its audience. A strong SOV paired with a high Engagement Rate signals that a brand consistently captures attention. PPC share KPIs such as Cost per Acquisition (CPA) and Return on Ad Spend (ROAS) also complement SOV to reveal how well a brand turns its presence into valuable business outcomes.
When you measure Share of Voice alongside these marketing metrics, you help clients allocate budgets more strategically. You also help your agency optimize client marketing campaigns for maximum conversion potential and financial success.
Key Factors That Impact Share of Voice
Several elements influence SOV. Budget allocation is a primary driver since spending more on paid advertising increases brand visibility. Quality of content creation and publishing frequency also play a role. Brands that consistently produce high-quality, engaging content typically secure more frequent brand mentions on social media accounts. Competitor activity is another influencing factor. A brand’s relative market share may decrease when competitors enhance their marketing efforts.
KPIs are important to clients because they want to understand how much they are spending, what they are spending it on and most importantly, what is the return on their spend. They also want to be able to measure the progress of the marketing campaigns month over month.
How To Calculate Share of Voice
Calculate Share of Voice by dividing the brand's total mentions or impressions by the total across all competitors and multiplying by 100 to receive a percentage.
Share of Voice Formula Example
What Is a Good Share of Voice?
High SOV signals strong authority and brand recall, often translating into higher customer engagement and loyalty. It generally indicates that a brand commands a visible and competitive presence in its market.
While specific targets vary by industry, a benchmark of 25-30% SOV is often considered strong.
What Is a Bad Share of Voice?
A low SOV suggests a brand may struggle to capture attention compared to its competitors.
Typically, an SOV below 10% indicates limited visibility. This signals the need to adjust a digital marketing strategy to improve competitive positioning.
How To Set Share of Voice Benchmarks and Goals
Establish visibility targets for clients by analyzing historical data and industry standards. Reviewing past SOV provides a baseline, while industry averages offer reference points to match or exceed competitors. Aligning these benchmarks with business goals ensures that SOV objectives drive brand growth effectively.
Why Share of Voice Matters to Clients
For clients, SOV is a valuable indicator of how effectively their brand stands out in a crowded market. This metric reveals how often the brand appears on the same social media platforms as competitors, offering insight into its relative market power. Clients appreciate SOV as a tangible measure of their brand's growth and influence.
Why Share of Voice Matters to Agencies
As for your agency, using SOV demonstrates the success and impact of your marketing strategies. A high SOV affirms your agency’s ability to deliver value in a competitive environment. SOV is also a critical measure to help you refine current and future campaigns for engagement and conversion effectiveness.
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Best Practices When Analyzing and Reporting on Share of Voice
Conducting a detailed SOV analysis across various lenses strengthens campaign effectiveness and enhances competitive insights.
Ensure Data Accuracy
Confirm data sources and metrics consistency across social media and digital marketing platforms for reliable SOV measurement.
Analyze Over Time
Use social media monitoring tools to track SOV trends over time. This provides context on growth and highlights the impact of your campaigns.
Put in Context
Interpret trends and anomalies in SOV to identify areas of opportunity or concern. This allows for timely campaign adjustments.
Visualize Performance
Use clear visuals to help clients understand SOV results in the context of competitors. Visualizations make reports easier for clients to understand.
Align To Client Goals
Align SOV to specific client goals to reassure clients that all marketing efforts will translate into outcomes that clients value.
Include Actionable Recommendations
Include actionable recommendations within your SOV reports to guide clients on your next steps and make results more impactful.
KPIs allow us, as the agency, to demonstrate our value to the client. There are basic KPIs such as spend, clicks, impressions, ranking, etc., but the real KPIs every client wants to know are leads and/or sales. We like to include both in our monthly reports. Ultimately, what is their ROI from our efforts? When you can clearly demonstrate this month over month, it increases your retention rate and keeps clients paying you month after month.
Digital Marketing Dashboard Example
How To Improve Share of Voice
Below are three actionable tips to enhance SOV across marketing channels.
Focus on Content Quality
Focus on content creation that resonates with the target audience. Engaging, relevant content attracts organic social media mentions, increasing brand visibility naturally.
Monitor Competitor Activity
Stay informed on competitor marketing campaigns and social media presence. By adjusting strategies to outperform competitors in active channels, you help a brand strengthen its market share.
Leverage Influencers and Partnerships
Collaborate with influencers or complementary brands to expand reach. These partnerships help increase brand mentions, providing a quick SOV lift.
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