Share of Voice (SOV) explained in marketing + free 🔢 calculator
Share of Voice (SOV) is an important metric in marketing that measures the ratio of a company’s or brand’s advertising presence compared to its competitors in a given market or industry. SOV is a crucial indicator to evaluate brand awareness, market share and competitive positioning. Discover even more KPI & marketing calculators here.
Meaning: Definition in marketing
The share of voice shows the percentage of advertising activity that a brand has compared to its competitors in a defined period or on a specific advertising platform. It can be measured at various levels, such as ad spend, share of ad impressions, or social media presence. A high SOV may indicate that a brand is well positioned and holds a significant market share, while a low SOV may indicate lower visibility and competitiveness.
Calculation: Calculate SOV
The calculation of Share of Voice depends on the metric you choose. Here are some common methods:
SOV based on advertising expenses
You take your brand’s ad spend and divide it by the total spend of all competitors, then multiply the result by 100 to express it as a percentage.
SOV based on advertising impressions
You take the number of ad impressions of your brand and divide it by the total number of ad impressions of all competitors, then multiply the result by 100 to express it as a percentage.
SOV based on social media presence
You take the number of social media posts your brand has and divide it by the total number of social media posts all competitors have, then multiply the result by 100 to express it as a percentage.
To illustrate, let’s say that in a given market, your brand and its top three competitors have 25%, 30%, 20%, and 25% of SOV based on advertising spend, respectively. Then your SOV is:
SOV = 25% / (25% + 30% + 20% + 25%) * 100 = 25%
SOV Calculator
Calculate your values here for free:
Calculator from Social Media One
Meaning of the SOV calculation
Share of Voice is an important indicator to understand the market presence and competitive positioning of a brand. A high SOV may indicate that the brand is well known in the target audience and holds a significant market share. A low SOV may indicate lower visibility and competitiveness, which may require a review and optimization of the marketing strategy.
Example: Optimization of the SOV
An electronics company wants to improve its SOV in online advertising to increase brand awareness. Currently, the SOV based on advertising spend is 15%, while the top three competitors hold 25%, 20% and 30% of the SOV respectively. The company decides to target advertising spend more effectively and use new advertising platforms to increase reach. As a result, SOV increases to 20%.
By optimizing the SOV, the electronics company can improve its visibility in the market and better reach potential customers.
KPI & Marketing Calculator Free
Want to realize the full potential of your marketing strategy? Our custom KPI calculators give you the power to quickly and easily calculate critical metrics. From customer acquisition to conversion rate, we have the tools you need to maximize the success of your marketing efforts. Discover how our calculators can help you optimize spend, increase efficiency, and boost audience engagement!
