The Importance of Share of Voice in the Marketplace | Inbound Marketing Expert


 

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Share your voiceShare of Voice (SOV) is a term used in the marketing and advertising industry sector to assign a numerical factor to just how much impact a brand or product makes in a segment over a defined period. SOV measurement is not limited to the field of marketing; political research groups often estimate SOV to monitor the media reach of ideological parties in media outlets such as radio, television and the Internet. In this sense, SOV can be considered a combination of the market share a brand holds and the buzz that surrounds it during a period of time.

When it comes to Search Engine Optimization (SEO) and online marketing, SOV is the percentage that advertising of a site, product or service holds in particular markets at certain times. For example, if a single Google AdWords piece of advertising is clicked by every other visitor to a specific web page over a 24 hour period, the SOV in that situation can be estimated at 50 percent. If a pizza shop offers an online coupon in a landing page in exchange for the visitor agreeing to subscribe to a mailing list, and 250 out of 1,000 visitors provide their email address, the SOV is 25 percent.

Measuring SOV is a crucial component of a solid social media marketing strategy. SEO and online marketing professionals are used to digging into website analytics to track the success of their campaigns, but social media marketing requires a different set of metrics. SOV is a reliable factor to measure for professionals who turn to online social networks to market their brands. Business enterprises with significant online presences are increasingly paying attention to SOV at a time when Internet users prefer social networks over search engines.

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