Market competition isn’t just about sales or revenue you and Greenland Email List your competitors are also fighting over the minds of consumers Greenland Email List . That’s what Share of Mind, which measures the share of brand recall in the market, is all about . A Share of Mind survey asks consumers: which brands come to mind when talking about soda? And in pharmacies? What about content marketing? The most remembered brands have a greater Share Greenland Email List of Mind, with the most mentioned in the first position being the top of mind in the market. Having a good Share of Mind means that you have a recognized brand in the market, which can cut corners when making a purchase: when the consumer needs a solution, your brand will be remembered before Greenland Email List the competition. Share of Heart The best thing for a brand is not just to be remembered, but also to be loved by consumers. Share of Heart, then, is about this: the slice of consumers’ affective engagement with brands .
This metric measures consumers’ emotional connection to your brand. In a Share of Heart survey, Greenland Email List consumers basically say which brand they like best. This feeling can be defined by your satisfaction in a shopping experience, but also by subjective factors, Greenland Email List such as your affinity with the company’s values and mission. When your brand is loved by people, it achieves a high degree of loyalty and engagement. Customers rarely go to the competition, because they are not affected by a lower price or faster delivery, for example. In addition, they become staunch Greenland Email List advocates and promoters of the brand because they want to contribute to its success.
How to calculate SOV
To measure your brand’s voice share Greenland Email List , you need to know what your visibility in the media is and what your brands’ total visibility is. The calculation consists of the relationship between these two variables. The basic formula is as follows: Share of Voice Greenland Email List Brand Visibility / Total Market Visibility In traditional marketing, this calculation was based on the brands’ advertising spend. But it wasn’t always possible to know what competitors were investing in ads, so the metric was inaccurate. Today, Digital Marketing provides ways to calculate Share Greenland Email List of Voice more accurately and with other indicators, such as impressions, mentions and clicks. Now, let’s see how you can calculate your brand’s Share of Voice across different media: PPC, social media and SEO. Share of Voice in PPC PPC (pay-per-click) are campaigns where the advertiser pays only when users click on the ad. This type of campaign is offered by Google Ads , a platform that allows you to create ads for Google, YouTube Greenland Email List , Google Shopping, apps and partner sites. Therefore, calculating Share of Voice in PPC means measuring the display of your brand and competitors on these channels.
Share of Voice on social media
In social media, measuring Share of Voice means capturing the voice of consumers Greenland Email List , in other words, what they say about your brand. For this you will need the help of social media monitoring tools such as Scup , Mention or Brand watch . In these tools, you must configure Greenland Email List the monitoring of mentions to your brand , your products or relevant keywords of your business on the main platforms, such as Facebook, Instagram, Twitter and LinkedIn. To measure Share of Voice, you also need to monitor mentions of your competitors. Thus, you can compare and Greenland Email List identify the percentage of brand visibility on social media. See an example: Share of Voice from restaurants Source: Bran watch Depending on the platform, you can also capture other information about the audience, such as the feeling related to the mentions (positive, neutral, negative) and the profile Greenland Email List of the users (gender, interests, profession, etc.). And all this can be compared to competitors. Notice how the Share of Voice perspective here is different: You’re not measuring how much you invest in advertising or how much it appears on Google — the intention is to know the results of your efforts in the eyes of the consumer. With this insight, you know what your audience thinks about your brand and can optimize your marketing accordingly.