Are you a marketing professional and don't know which indicator to use to measure and quantify your work?
So that this doesn't keep you up at night, we'll explain a metric that will allow you to determine the level of participation of your company or brand in the market. Of course, we're referring to Share of Voice (SOV).
Share of Voice is a KPI that represents the market share or guatemala email list 490124 contact leads percentage that your company has of the total investment made in your business sector in terms of advertising , promotion, marketing, among others.
With the fervent digital revolution in which we currently find ourselves, this definition acquires a lot of application value, since the Internet represents the best tool to advertise your company or brand.
This can be done either through the use of social networks , SEO techniques , Inbound Marketing , organic searches, advertising campaigns, etc.
Without a doubt, this is a technique you should explore and we will tell you what it is all about. Let's get started!
What is the Share of Voice (SOV) calculation formula?
Knowing that Share of Voice is a metric that determines your brand's market share compared to the competition, it is clear that calculating it requires a mathematical formula.
This is the generic calculation:
Your brand's advertising value / Market's advertising value = SOV
Now, the SOV can be adapted to different environments.
In what contexts does Share of Voice apply?
Share of Voice is a fairly extensive technique that can be used as an indicator in various contexts. Learn about 2 of them.
1. Social networks
The calculation of SOV as a social media metric seeks to collect all customer mentions where your brand appears in a specific online social structure such as Twitter .
Let's say that in September a trending topic about the global crisis emerged with 2,000 tweets and your brand was mentioned in 1,000, that is, this gives us a Share of Voice of 50% on this social network.
In this way, you will be evaluating how well-known your brand is, how and how much people talk about it when compared to your competition.
