Share of Voice: Why It Matters for Your Brand

Think: why is it crucial for brands to measure Share of Voice (SOV) in a highly competitive environment? Simply because this is the best way to understand how visible your brand is to your target audience. SOV always was a key element of a successful brand strategy, as this data helps brands secure a larger market share. Let’s dive into the details. 

What Is the Share of Voice and How Is It Measured?

Share of Voice is defined as a metric that measures a brand’s presence and visibility in the market compared to its competitors. It represents the percentage of all industry advertising or mentions within a specific category that belongs to one brand. SOV can be tracked across various channels, including social media, digital advertising, print and TV, and is often used as an indicator of brand awareness and market dominance. To measure it advertisers need to keep track of different metrics such as the number of mentions, logos in video content, ad impressions and clicks.

With SOV we can basically count coverage and accurately answer the following question: how many times was your business mentioned in the media? Using Zoom as an example, if we wanted to measure their Share of Voice, we might look at the last 30 days and ask: “How many times was Zoom mentioned in the media?”. Let's say that number is 50. And then if we were to look at their competitors and wonder about GoToMeeting or WebEx or BlueJeans or others, how many times were they mentioned in the media? Then you would total it up, divide by the subtotals, and you would get a percentage of Share of Voice. This might result in SOV figures of 20%, 25%, or even 50%. However that is a very basic approach of looking at Share of Voice because it lacks context. 

Take your media list, maybe your top 50 or top 100, and measure your Share of Voice against just that list. Not only does it eliminate the spam, but it shows you a more accurate representation of how relevant your brand is positioned within the media that matters the most. 

Common Formula for Measuring Share of Voice:

Share of Voice = (Brand Mentions or Spend ÷ Total Industry Mentions or Spend) × 100

It probably seems complicated to handle SOV metrics manually, but let us remind you of one of the perks of living in 2024: AI Marketing Platforms like Entyx execute SOV calculation and media metrics checks automatically. So forget about calculating metrics manually - all the data collection and AI driven analysis are always on us!

Why SOV Matters for Brand’s Success

High Share of Voice (SOV) plays a strategically important role for a brand's success in a competitive business environment. When a brand actively invests in its marketing activities, it can lead to increased brand visibility. That should ultimately lead to an increase in sales and brand’s overall market share - this is a well-known rule called “Excess Share of Voice”. But keep in mind, it's not just enough to throw media money at your audience to increase your Share of Voice. What you're saying in your marketing campaigns is still crucial for your marketing success. After all, it isn't exactly useful to have the highest Share of Voice if your message doesn't appeal to your target customer.

The importance of SOV lies in the effect that advertisers see after all their strategic moves. A classic and classy example of when a brand successfully applied SOV is Coca-Cola, as this brand has one of the highest SOV indicators in the world. It holds the title thanks to large-scale ad campaigns, constant investments in ads, sponsorship of major world-class events such as the Olympic Games, and active presence on all marketing platforms. All these steps help it stay close to its target audience. Should we mention that Coca-Cola’s campaigns (the ones dedicated to winter holidays) became an iconic part of the holiday spirit? Do you hear it?

That is how Coca-Cola established an eternal connection with all of us. 

But let’s talk about another giant on the market - Nike. This brand increases its SOV through collaborations with famous sportsmen, like Michael Jordan, and massive campaigns, like iconic motivation “Just Do It”. This way Nike stays ahead of competitors and fortifies its positioning as a symbol of power, inspiration, and high quality. 

Using SOV as a marketing tool allows brands to not only strengthen their brand awareness but also increase customer loyalty, thus improving their market position and ensuring long-term marketing success.

How Entyx Helps Brands Boost Share of Voice

The Entyx platform features AI-powered analytics that significantly ease and speed up the SOV measuring process. Our tools increase SOV by making your ads more efficient and remarkable. Among them are:

•  Video & Audio AI Analysis: This feature automatically analyzes video and audio content, recognizing logos, tracking keywords, and assessing audience sentiment. These insights allow you to fine-tune your advertising campaigns, ensuring maximum audience engagement.
• Ad Banners: Place and manage automated advertising banners across various streaming channels on Twitch. Analyze banner display performance in real-time, optimize placement, and increase brand visibility. This system allows for precise targeting and maximizes the impact of your banner ads.
• Gamification: Our interactive ad formats, like Catch the Drop, increase engagement levels and boost media share.

Turning Share of Voice into Market Advantage

Brand success literally depends on how well you, as a brand representative, or owner, or marketer track and prioritize the SOV.

Share of Voice is a powerful tool for brands to better assess their competitive positioning, measure the effectiveness of their campaigns, and identify areas to increase visibility or improve engagement. SOV is typically calculated as a percentage. For example, if a brand has 30% of all mentions or ad spend in its industry, its Share of Voice would be 30%.

Entyx’s AI-driven tools help brands gain valuable insights into their target audience and ad performance, enabling them to optimize their collaborations, engage more effectively with their audiences, and increase their brand visibility in so many ways. Let’s make a deal: you test our platform, and we’ll bring you success. Go for it.