What Does Share of Voice Mean in Digital Marketing?

When multiple companies compete for dominance in a given segment of the market, they don’t just compete for customers. Good companies know that success comes when they perform and dominant in every aspect of running a business. Thus, from having a good company culture to hiring well and marketing the products well, all these different parts together contribute to one company doing well and dominating its segment.

The performance of a company in different aspects of running a business is measured with the help of KPIs. Knowledge performance indicators or KPIs are metrics used to measure how a business is doing. In digital marketing, one KPI used extensively is share of voice.

In this article, we will discuss what share of voice refers to in the context of digital marketing.

What is Share of Voice?

For marketers who have been in the field for a long time, share of voice wouldn’t seem like a new term. Just as companies measure their market share by the number of customers they have, share of voice is used to measure the marketing presence and visibility a brand has compared to competitors.
In the old days, share of voice was used to measure the share of advertising a company had in mediums like newspaper, radio, and television.

In digital marketing, a metric like share of voice is very powerful as it can be calculated with greater accuracy and precision.

Why is Measuring Share of Voice Important?

A company, in order to be at the top of its own market segment, has to dominate its competitors in every field possible. Selling more products than competitors is the ultimate goal, but to reach that level, a company has to do a lot of things better than its rivals. This means hiring better, having a better culture, occupying more marketing space, and so on.

Share of voice helps indicate the level of dominance a company has when comparing marketing space.

In Conclusion

Many metrics are used by marketing professionals to measure a range of different things during a campaign. The role of these metrics is to help marketers understand their own campaign in a better light. There is a universal push in all fields of work for more data to make sure that any work done by a professional actually delivers results. In this article, we discuss one such metric, share of voice, its role in digital marketing, and how it can be measured. 

About the Author- Sheila Basant is a well-known digital marketing analyst with seven years of experience in analyzing campaign data and KPIs. She is well-versed in data science and has worked as an analyst for top digital marketing institute like DelhiCourses.in. The place is widely regarded as the best place for an affordable digital marketing training in Delhi.  

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