SHARE OF VOICE
Share of voice it’s a level of participation about a Company, user or Brand in a specific channel versus our competitors.
In marketing Online it’s very important to know what is the impact (repercussion) of our actions.
THE MOST IMPORANT ITEMS WE SHOULD KNOW ARE:
- If we are partaker
- If the users speak about us
- How they speak about us (in what way)
- How often they do it
- When they speak about us it’s in a positive or negative way?
STEPS TO MEASURE THE SHARE OF VOICE
- Define goals
- Choose indicators
- Choose tools
HOW WE CAN MEASURE OUR SHARE OF VOICE?
We have to measure the repercussion that we have with the Share of voice which basically is “the level of participation that a user has in a specific channel”. It’s a fundamental tool (metrics) because once we have measured that we will obtain the information about:
- How important we are
- What percentage of communication is about us?
- How much attention generate our content?
To be more specific than before, we could understand in marketing online that the share of voice show the percentage share of an advertiser in a market defined with a limited time.
TOOLS TO MEASSURE OUR SHARE OF VOCE
These are the principal tools to measure the number of conversations about us versus our competitors
- Social Mention
- Google Alerts
THE MOST IMPORTANT METRICS TO MEASSURE THE RESULTS
We have to know that the most important part it’s choose the right metrics to measure our actions and it’ll be the base of our success. The most common are:
- Feedback: Number of users they clicked “Me gusta” in our publications
- Number of followers in each social network
- Number of times people share our brand
- Number of mentions: number of times my brand ins named in different social network (tool: Social mention)
- Value of our post (tool: PostRank Analytics)
EXAMPLE ABOUT SHARE OF VOICE
If during the month of October on Twitter the conversation about Ginebra has been about 1.000 twits and our brand has been in 500 of them it means that we have a 50% percent of share of voice in Twitter.
SHARE OF VOICE SIMILAR TO MARKET SHARE
This example it’s easy to understand if we compare the share of voice with the Market Share where the item that we measure is the percentage of sales that we have from the whole market.
The unique difference is that in market share we want to know the magnitude of our sales relative to the market and in the share of voice we want to know the magnitude and repercussion of our communication in a specific channel.