In other words, what exactly is a “share of voice”?

Share of Voice refers to the ratio of how often your brand is mentioned to that of your rivals’ on a certain topic or platform. It’s a measure of how widely people are exposed to and influenced by your brand, and it correlates strongly with market share. One strategy to boost your brand Share of Voice is to pay close attention to the conversations that already exist online regarding your industry and your products.

How probable is it that your business-to-business (B2B) brand will be referenced when someone initiates a discussion about your sector online? Companies having a large Share of Voice may be able to say “straight instantly, every time.” Assuming “eventually, we hope,” further effort is required.

Understanding the Role of Share of Voice Metrics in Social Media

Share of Voice may be easily computed as a percentage using a standard method. To begin, pick a subject or medium and tally up all the mentions of your brand and your rivals’. After that, multiply your percentage by the ratio of your mentions to the overall number of mentions (yours plus your competitors’). Your percentage of the vote is the final tally.

Why Your Opinion Matters in the Digital Age

It’s reasonable to assume that more people talking about a brand means that brand is more well-known and respected if that brand has a high Share of Voice. Having the higher share comes with many other benefits, though. There’s more to it than just having a larger part of the conversation to shape it in a positive direction for your business.

Understanding your industry and business through the eyes of the customers you’re attempting to attract is an essential part of measuring your Share of Voice. As an added bonus, it can shed light on how the competition operates.

Seven Strategies to Raise Your Social Media Profile

Here are seven actions you can do today to increase your Share of Voice and start reaping the rewards of being heard in online forums and communities.

First, Always Strive to Maintain a Regular Schedule of Activity

There is a time and a place for quiet reflection, but it is not while you are attempting to increase your Share of Voice. Social media debates change rapidly, so active participation is essential to establishing and maintaining a prominent voice inside the discourse.

Brands that are accessible and active in the marketplace tend to retain their customers. A social media calendar can help you stay on track, but don’t rely on it alone. Being quick on your feet and adaptable is rewarded in the social media world.

Develop Content That People Want To Share

Anybody with a social media account may pick from countless options for how to spend their time and energy. If you’re not offering your audience something new, exciting, or engaging, don’t expect them to interact with your material or promote your company.

In a significant way, your content’s structure matters. New customers may be attracted to a firm with the use of videos, and the correct audiences will like memes and infographics. It’s important to use narrative elements when presenting a large amount of boring research and facts to keep the message engaging. Employee advocacy initiatives are an effective method of connecting with consumers while maintaining a unified message, as audiences will always find real people more intriguing than faceless businesses.

Third, initiate dialogue.

The person who makes the plans generally gets to speak the longest. For the most part, having a bigger Share of Voice means that you are the one who starts and drives the discourse. Keep your eyes peeled for openings; don’t barge into ongoing conversations.

Real-time marketing may be a powerful conversation starter. By reacting in real time (RTM) to noteworthy or viral events, you can include your brand into the narrative while simultaneously engaging your target audience. A pleasant surprise. The advantages of RTM coincide with the goals of maximising one’s Share of Voice.

Relationship-building with customers is a key step in every successful business.

Brands’ ability to dominate conversations and attract attention through their content may have a significant impact on their share of voice. Keep in mind that the end aim is to boost unpaid mentions from your existing and potential clientele.

When a customer takes the time to interact with your business, whether to express their gratitude, ask a question, or voice their displeasure, you should take note. Demonstrate that you are paying attention. The best reaction is a considered one. It’s a great way to keep people interested and coming back for more discussions.

Method #5: Work Together for Victory

Certain groups tend to be more sceptical of brands than others. By forming strategic alliances with well-respected figures in the target audience’s sector or field, you may boost your reputation and lower barriers to entry, increasing the likelihood that they will choose to connect with you.

Your Share of Voice may be increased by placing strategically placed advertisements. To get the most organic buzz out of your sponsored content, use your segmented data to aim it towards certain demographics.

Conclusion

Success on social media is difficult to achieve. Even when platforms change and trends emerge and go, it’s important to monitor your progress in the real world. Share of Voice is a simple indicator that provides a direct snapshot of your current status. It can help you better understand your audience so you can better serve them in the future.