Competitor analysis of brand awareness
Talkwalker wrote a detailed post on the topic of Share of Voice, which we briefly summarize here. The blog defines the term this way: “In digital marketing, an organization’s Share of Voice or Voice Share (also commonly referred to by the acronym SOV) is usually defined as the proportion of conversations that are held about its brand, products or services on various channels (news sites, blogs, forums, social media, even offline sources) and in comparison to direct competitors.”
Thus, Share of Voice (SOV) is the modern form of competitive analysis, as it expresses how well-known a brand is on different marketing channels compared to its competitors. There is a second term used in addition to Share of Voice: Share of Topic. The difference is that SOV determines an overall comparison, while Share of Topic is a subcategory on a specific topic.
How do you increase a brand’s Share of Voice?
This is a classic PR challenge. Target groups need to be motivated to talk about the brand. Traditional online and offline media are just as suitable for this as social media, influencers and bloggers. Pure product messages are not enough. Media angles must be found that invite people to post and exchange opinions on the various marketing channels.
Here it becomes clear what the biggest difference is to brand communication in the past vs. today: In the past, communication was a one-way street from the brand (sender) to the potential customer (recipient). Today, the brand is in constant dialog with customers and followers of the brand who need to be inspired, and they in turn do so among themselves. This creates user-generated content and ultimately share of voice. This requires a significantly higher complexity of the brand campaign in order to steer the communication in a successful direction.