Share of Voice (SOV)
Share of Voice is a term used to measure your brand’s dominance over the rest of its competitors. It defines the visibility of your brand in the market. You can identify how much market your brand owns. Share of Voice generally provides information on your brand’s share of paid advertising in an open market. You can also include digital marketing and advertising metrics to analyse your SOV.
It is essential for businesses to know their SOV to get an insight into their market reputation and customer response and can get ready for future challenges. You can calculate your brand’s SOV by using the formula: Your brand metric / Total market metric x 100
Let us say your brand is listed in 60 articles on social media, whereas your competitor is mentioned in 40 articles; you can perceive that your brand has a 60 percent share of voice.
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