How to Measure Share of Voice & Increase Market Share?

May 2, 2023 | Digital Marketing

If you are in the digital marketing field, you are expected to be aware of the term share of voice (SOV). However, many digital marketers have a faint idea about SOV marketing. A few of them also consider the online share of voice as just another PR metric.

Well, are you one of them?

Are you one of them GIF

Not to worry, by the time you finish this article, you will clearly understand all about share of voice advertising.

Share of voice refers to the amount of exposure your brand or product receives compared to your competitors. SOV marketing determines your brand’s online visibility and success in the digital marketplace.

Sounds serious, right? It is, indeed.

One of the critical factors that influence SOV marketing is SEO. Search engine optimization is vital in improving your brand’s online presence and share of voice marketing.

Then how to improve your share of voice SEO?

By optimizing your website content with relevant keywords and creating high-quality backlinks, you can improve your share of voice SEO.

What is Share of Voice?

What is share of voice

Share of voice is a measurement that shows the proportion of times your brand is mentioned online compared to your competitors. 

Online share of voice reflects how often your brand appears online and how well its content resonates with your audience, encompassing brand awareness and customer engagement.

Earlier, the share of voice advertising only considered a brand’s advertising activities or its share of the total advertising market. 

However, with present social listening techniques, online share of voice can now accurately represent all online visibility, including user feedback and pay-per-click (PPC) advertising. 

How to Calculate Share of Voice?

How to calculate share of voice

You can calculate your brand’s share of voice by implementing simple arithmetic. If you divide your brand’s organic search traffic by the market’s total organic search traffic and multiply the result by 100, you will get the percentage value of your organic share of voice.

Have you got the simple arithmetic, or, still need clarification?

Okay, let us put the same in the form of a simple formula to understand better,

Your brand’s organic share of voice = (Amount of organic search traffic your brand receives / The market’s total organic search traffic) x 100

Suppose you are targeting the keyword “men’s sports eyewear” and want to calculate your brand’s organic share of voice using the above formula.

Let’s assume,

The monthly organic search volume of your brand for that keyword = 10,000

The monthly average organic search volume in the market for that keyword = 100,000

Then your brand’s organic share of voice = 10,000/100,000 x 100 % = 10%

Why is SOV Marketing Essential For Your Brand?

If you are still in a dilemma about the importance of share of voice advertising, you must know that share of voice and share of market have a directly proportional relation.

SOV v/s SOM

For example, if you have a 10% share of voice for a targeted keyword, then your market share shall also be 10% in most cases.

However, you must plan to achieve an online share of voice greater than the value of your market share. That extra share of voice (eSOV) becomes the long-term factor in increasing your market share in the future.

Now, do not start thinking that achieving the equilibrium between your share of voice marketing and share of the market, as shown in the above graph, is an overnight game. 

Take for granted that no such magic is going to happen.

No magic GIF

Then what does that ‘long-term’ mean?

Well, you can rationally expect to achieve annual growth of 0.7% in your share of the market against ten eSOV percentage points.

How to Increase Share of Voice?

Now that you understand the proper meaning and importance of share of voice advertising for your brand, you must know how to increase your share of voice.

After all, who does not enjoy popularity and sales?

Popularity GIF

Following are the essential methods to increase your share of voice marketing,

Increase Your Brand Visibility and Traffic

Brand visibility

Brand visibility means how frequently users find your brand while searching for a keyword phrase. The more visible your brand is, the more people will know about it. That, in turn, shall increase the share of voice marketing of your brand.

Though the amount of traffic on your website is an SEO metric, it helps measuring share of voice of your brand in your industry. Website traffic is estimated by the number of online interactions generated for your business for a set of keywords. 

However, it is essential to remember that not all of your targeted keywords increase your brand’s visibility equally. 

One of your web pages may yield a high search volume for a keyword every month but rank on the second page of search engine results. Chances are remote that searchers will visit that page frequently. As a result, it won’t help you much in increasing your share of voice.

Then how to resolve this issue?

The answer is to perform in-depth keyword research using a reliable tool to target keyword groups with moderate and high visibility. 

Using RankWatch Keyword Research can make this task a cakewalk. The tool provides long-tail keywords, phrase keywords, along with their search volume and other metrics like CPC and competition.

RankWatch keyword research

Increase Your Reach

Increase your reach

If your product or brand has an extensive reach, it will allow more users to interact with it. That will increase your brand’s share of voice and growth. 

So, now you will be curious to know how to achieve that, right??

Here you go; the following are the two most effective ways to increase your coverage,

Building Quality Backlinks

Building quality backlinks to your website content can never go out of style. 

You can contact leading authors in your industry and request them to publish or link back your content to their web pages, listicles, round-ups or reviews. 

Another essential thing to do is analyze your competitor’s backlinking strategy to know where they get their backlinks. You can also approach those websites to gather backlinks to your content.

RankWatch backlink analyzer tool can provide you with the most accurate results.

Rankwatch backlink analyzer

Create More Relevant Content

If you treat your content like a king, it will help you form your dynasty.

Content is king GIF

It is essential to create new content for your website regularly. The content should target the right sets of keywords, its quality must be top-notch and relevant to your target audience, and it should tick-off all the boxes of “good content.” 

Besides, you need to make sure that your content should satisfy searchers’ queries. So, is it sufficient to recruit an excellent content writer? Or do you need something more?

Both the answers are Yes.

Once the writer finishes the content, it must be tested using the right tool.

You should test your content using the SEO IQ feature offered by the RankWatch tool. 

The content editor of SEO IQ provides you with optimization ideas for your existing content. Adopting the suggestions and inserting those rich keywords shall ensure better-optimized content for search engines.

SEO IQ content optimization ideas

Increase and Track Your Traffic

Mentions play a vital role in measuring the share of voice. It includes social media traffic and all other mentions throughout the web.

You need to track all of them minutely. Having a bird’s eye view across all channels is essential. Achieving that manually is a hard nut to crack. Using RankWatch Analytics makes it easier to execute this mammoth task.

RankWatch Analytics

Once you finish tracking down your traffic, you must try to increase it across all the channels. You can request industry-leading authors and publishers to mention your brand positively in their web content, roundups, reviews, and listicles.

However, it is easier to approach authors who have already mentioned your brand in the past.

You can request your regular customers to post positive reviews about your brand on platforms like Google and Yelp. This cost-effective means is way more easily achievable too.

Responding to all your mentions across various platforms is of utmost importance. Especially the negative ones. They should be addressed without any delay and need to be resolved as early as possible. That will ensure customer satisfaction. Moreover, it will save you from getting them viral. 

You need to be responsive on all social media platforms and never forget to show your gratitude for all the favorable mentions your brand receives.

How to Measure Share of Voice?

Measuring share of voice manually can be a tedious task. Choosing the right tool is essential to measure the share of voice accurately.

Rankwatch helps you to achieve that by following the below steps,

  1. Log in to your paid or free (14-day trial) RankWatch account.
  2. The next step is to add a project.

    Adding a project in RankWatch
  3. After adding, you will get to see the overview dashboard of RankWatch. Select the “Ranking Overview” option from the left side menu.

    Ranking Overview feature in RankWatch Dashboard

  4. The tool allows you to select a specific period for which SEO KPI metrics like percentage and value of SOV, trend charts, and country-specific traffics can be found. You can perform a comparison of these data with a set of any previous data.

    Ranking Overview feature in RankWatch Dashboard

    Keyword distribution feature in RankWatch Dashboard

  5. In this way, you can understand your website’s present SOV scenario in-depth. The keyword distribution pie chart showing your website’s current position, ranking keywords, average ranking, total keywords tracked, and position-wise keywords ranking helps you to plan the right tactics for increasing your SOV.

Conclusion

Share of voice is not another PR metric that you can take lightly. SOV plays a critical role in creating your brand value. It determines the number of users who will find your product and brand. That, in turn, decides your growth.

Moreover, the share of voice possesses a directly proportional relation with share of market. You can estimate your market share by measuring your SOV accurately.

Building a solid backlink profile, creating high-quality content with targeted keywords, and optimizing your content using the right tool can significantly increase your share of voice.

You need to be alert and thoroughly active across all the channels on the web, including social media. You must address and properly handle all your brand mentions to ensure ultimate customer satisfaction.

After implementing all necessary steps to increase your share of voice, you need to check the outcome regularly. Using a reliable tool like RankWatch can make this task easier and more accurate. That will help you measure the improvements and also highlight the area you need to improve further.

Share Your Thoughts

Leave a comment


Notice: Undefined variable: commenter in /var/www/html/blog/wp-content/themes/rankwblog111/functions.php on line 1074

Notice: Undefined variable: commenter in /var/www/html/blog/wp-content/themes/rankwblog111/functions.php on line 1076

Notice: Undefined variable: commenter in /var/www/html/blog/wp-content/themes/rankwblog111/functions.php on line 1080

Notice: Undefined variable: commenter in /var/www/html/blog/wp-content/themes/rankwblog111/functions.php on line 1083

Your email address will not be published. Required fields are marked *

Read more articles

Want to stay on top of the latest search trends?

Get top insights and news from our search experts.

Loading

Try Rankwatch Today For FREE !

Start Your FREE 14 Days Trial

25,000+ Active customers in 25 countries use RankWatch as their primary SEO software