Share of Voice (SOV) is a metric that measures the presence of a brand or product in the marketplace.
In short, it measures how well a company or brand performs relative to its competitors.
SOV is an important metric to measure brand awareness. It shows how much of the conversation belongs to your brand compared to your competition.
So if you have a higher SOV, your company or brand dominates the market. But if you have a lower SOV, your company struggles to keep up with the competition.
Companies can use Share of Voice to:
- determine the effectiveness of marketing campaigns;
- track their progress and the brand’s success over time; and
- identify areas where they need to improve.
By keeping an eye on the SOV, businesses can stay ahead of the competition and ensure their products and services are seen by their target customers.
How to calculate SOV?
You usually calculate the percentage of all conversations related to a brand compared to the total conversations about all brands in the market.
Your brand metric / Total market metric x 100
Examples of metrics that you can calculate for SOV:
- Organic keywords
- Pay-per-click (PPC) keywords