How to Increase Your Share of Voice on Social Media.

Learn what is share of voice on social media and how to use it to improve your marketing results.
Roza Tsvetkova
January 14, 2022 - 5 min. read

The social media marketing arena has been challenging, with many brands fighting against each other to win their audience’s attention.

But how do you know if your business can be heard loud and clear on social media? There is a special metric that can help you with that and it’s called share of voice (SOV).

In this blog post, we are going to take you on an insightful journey to learn:

  • What is share of voice on social media?
  • Why is share of voice important?
  • How to measure share of voice on social media?
  • 3 tips on how to increase your SOV.

Let’s dive into it!

What is share of voice (SOV) on social media?

Share of voice is your compass to determine where your brand stands when competing for market share on social media. It can help you understand how you perform compared to your competitors and whose voice your audience is mostly listening to. 

Share of voice is where social listening and competitor analysis meet. And it can elevate your social media strategy and analytics to the next level. 

Are your products and services represented in relevant conversations? 

How engaging is your brand compared to the other brands in your industry? 

Share of voice will help you answer all these questions and stay on top of your marketing performance. It will also enable you to identify the state of your brand awareness and customer engagement.

Share of voice started as a term used when discussing media spending comparisons, but as the digital marketing world grew, it now covers online visibility in general. This is achieved by analyzing mentions on social media and traffic for keywords. 

Here is an example of some of the insights you can get when tracking your share of voice. It is a comparison between restaurants in the UK on how they perform on social media when it comes to volume of posts and market share for social engagement.

How to Increase Your Share of Voice on Social Media.

The data is extracted by Falcon’s Benchmark tool.

Share of your voice can be monitored and analyzed easily with the help of social media marketing tools like Falcon’s Benchmark.

Why is share of voice important on social?

Let’s look at the main reasons why you need to implement SOV in your social media strategy.

  • Understand your audience.

Monitoring your share of voice will help you better grasp what your target community is saying about your brand or a certain topic on social media. 

By tracking keywords, you can not only find out where you stand across those conversations, but also get insights into what your audience’s interests and behavior on social are. SOV helps you understand consumer opinions, needs, and desires better.

  • Research the competition.

With SOV, you can get to know your competition’s strengths and weaknesses. You can look closely into their campaigns’ feedback and learn or get inspired on any improvements you can consider in your social media strategy.

  • Benchmark against the competition.

SOV gives you the big picture of where your brand stands in the market when it comes to social. The data can also help you understand why one chooses your brand over the others. 

Maybe your customer service is better than your competitors,’ or you have provided excellent product packaging. SOV will help you get some insights on this.

If we look at the example with the restaurants in the UK, one of the insights SOV provides is comparing the average engagement on social. 

This metric can show your market share on social media.

How to Increase Your Share of Voice on Social Media.

Average engagement measured via Falcon’s Benchmark tool.

  • Discover new products or market opportunities.

Monitoring SOV can spark some inspiration on new products or relevant markets. While listening to the conversation on social media, you can find special trends or niche opportunities for your brand.

  • Find content gems.

SOV gives you a map to unlock great content for your audience. So keep an eye on it regularly, and you may find untapped opportunities to engage your community or attract new leads.

How to measure share of voice on social media?

There are two approaches you can consider when measuring your share of voice on social:

  • Use a formula and a sharp analytics eye.

One of the ways to make sure you are getting good insights on SOV is to use the following formula and calculate your performance on a regular basis.

Your brand metrics / total market metrics = Share of Voice

You can also apply this formula across all your marketing channels. Just remember that it may require adjustment depending on the channel’s functionalities and limitations.

  • Utilize the power of specialized tools.

There is another solution for generating great results with SOV and saving time and money on researching it. You can always rely on tools like Falcon’s Benchmark to do the magic for your business.

It can easily help you measure and visualize SOV in graphics so you can take the right marketing decisions.

3 tips on how to increase your share of voice on social.

Now that you know how to gather the data you need on SOV,  it’s time to put it into practice and make sure your overall marketing results improve.

Here are some practical tips to activate your share of voice on social media.

Tip 1: Be active and consistent on social media.

It all starts with knowing your audience. SOV can be a great way to improve that knowledge but the vicious circle is that you need to first actively publish content, communicate with your audience, and only then apply your SOV insights to your social media strategy.

Make sure you also test the best timing for your brand to post on social media. 

Tip 2: Engage and show the human side of your brand.

Social media is called social for a reason. People come there to interact with other humans and they expect the same from brands. 

In order to increase your SOV, you need to make sure you provide good and timely customer service to your community. This can be challenging so consider tools like Falcon to enable you with a one-stop social media inbox.

Here is an insightful read on how you can improve your social media customer care via one-on-one messenger communication.

Tip 3: Create content that your community will love.

Content is in the heart of your social media strategy. Make sure you read the signs coming from your SOV metrics and implement them into a relevant content strategy.

Use engaging content formats to let your customers shine through and show their ideas and feedback. Here is some inspiration for you on how to create good user-generated content.

Don’t forget to consider involving creators and influencers that resonate with your brand’s message on social media. Here is an interesting read if you want to know how to make a decision about potential influencers and what metrics to follow.

That’s a wrap!

Make sure your brand voice is heard on social media. 

Take a leap and start tracking your share of voice and benchmark against the competition.

Let us know if you need help and contact us for a personalized demo.