Share of Voice (S.O.V.) is a marketing metric that measures your brand's visibility and presence within its market compared to its competitors. It's often expressed as a percentage and is a crucial indicator of brand awareness, competitive standing, and the effectiveness of marketing and advertising efforts. A higher S.O.V. generally suggests a stronger market position and greater influence.
There are various ways to calculate S.O.V., depending on the context (e.g., advertising spend, media mentions, social media engagement). This calculator focuses on media mentions or brand mentions, a common and straightforward approach.
How to Calculate S.O.V. (Based on Mentions)
The formula used in this calculator is:
S.O.V. (%) = (Your Brand Mentions / Total Brand Mentions in the Market) * 100
Where:
Your Brand Mentions: The number of times your brand was mentioned in relevant media, press, social media, or other specified channels over a given period.
Total Brand Mentions in the Market: The sum of your brand's mentions plus the mentions of all your key competitors in the same channels and period.
Total Brand Mentions in the Market = Your Brand Mentions + Total Competitor Mentions
Use Cases for S.O.V.
Competitive Analysis: Understand how your brand is performing against competitors in terms of visibility.
Marketing Effectiveness: Gauge if your marketing and PR campaigns are increasing your brand's presence.
Brand Health Monitoring: Track changes in your S.O.V. over time to identify trends and potential issues.
Budget Allocation: Inform decisions on where to invest marketing resources to gain more visibility.
Media Relations: Evaluate the success of PR outreach and media coverage.
Example Calculation:
Let's say over a month:
Your brand was mentioned 750 times.
Your main competitors were mentioned a combined total of 2,250 times.
First, calculate the Total Brand Mentions in the Market:
Total Mentions = Your Mentions + Competitor Mentions
Total Mentions = 750 + 2,250 = 3,000