What Is Share of Voice? Definition of Share of Voice, Share of Voice Meaning and Concept
The share of voice measures the participation of a brand in a given channel taking into account a set time.
In times when the internet has revolutionized the world, and digital marketing has become essential for companies, it is necessary to have metrics on everything that brands achieve through digital platforms.
It is very important to know the degree of user participation, how they interact with a brand , and assess this data later to make improvements, strategy changes, and decision making.
Therefore, the share of voice offers important data regarding the relevance that a brand may have for users, and the percentage of participation of a company on a given platform.
For example, if there is a conversation about toothpastes on a certain social network, Twitter, and there are 1,000 tweets about it and a brand is mentioned in 500. It should be mentioned that it has obtained a share of voice of 50%.
In addition, other brands in the same sector can be analyzed in that established period of time to see the interaction they have had, if it is similar to that of a brand, inferior or superior.
Why is share of voice important?
These are the reasons why share of voice is important:
- It allows to obtain truthful data to know the repercussion that a brand has.
- The data is studied, and great advances can be achieved for a company since strategies can be modified, or new ones included, the competition assessed, and a message created according to what the public demands.
- The possibility of managing to direct the conversation of a brand on digital platforms, which is the objective after all of all companies. Thanks to this type of metric, it is possible to study how to achieve it and carry it out in practice.
Measurements on the internet are essential in any type of strategy. Of course, it is necessary to know the correct metrics, and choose those that will provide valuable information.
What is measured on the internet through metrics?
Here is what is typically measured for salient information:
- The level of participation and audiences. This data is one of the most required by companies in digital strategies, it should be noted, to add that not only participation is important, but also the fact of knowing the behavior and opinion of these users. Therefore, it is good to monitor the actions that are carried out to extract results that will be studied later.
- The conversion. It is something very characteristic of online stores , since initially a series of objectives and an action plan are established, and the conversion ratio will help to clarify if what is proposed is having the expected success.
- The results of advertising campaigns. The first thing is to establish the objectives, and then to know if they have been achieved. For example, do you want to get more clicks on a link? Improve the branding of a brand? More comments on a post? All this must be established initially, and once the campaign is over, assess whether it has been achieved thanks to the metrics related to this digital marketing option .