The internet is a noisy place.
At any given moment of any given day, a mere 60 seconds worth of activity online can generate a whole heck of a lot of chatter. Around 3 million Facebook posts, 500 hours of YouTube video uploads and 3.8 million Google searches to be exact. As you can see, there’s no shortage of things to be said.
With this in mind, content marketers are often left wondering what portion of that conversation brands can call their own. We want to understand where we’re talked about, what’s said and who has the potential to outrank us in popularity (if they don’t already).
We want to calculate our share of voice (SOV).
What is Share of Voice?
For a process that can seem relatively complex, let’s keep the definition of share of voice relatively simple. Moz does a nice job of this by defining it along the lines of the following equation:
Brand advertising ($ or #) / Total market advertising ($ or #) = Share of voice
How to Measure Share of Voice for Social Media
In regard to social media, share of voice aims to quantify the noise your brand makes on all relevant channels and audience activity (i.e. shares, mentions, etc.). This is then compared to your competitors in order to establish an owned percentage.
On a very basic level, measuring share of voice for social media can be done manually, in conjunction with a mention monitoring tool. For all platforms that you promote content through, track the number of mentions made of your brand over a specified time frame. You’ll then want to do the same for your competitors, remaining mindful of all pertinent keywords.
Once you have a tally of mentions across the board—keeping your pool of competition relatively small—it’s time for a bit of math.
- Take the total number of mentions (yours plus your competitors) over the specified time frame and divide it by 100. This will define what 1 percent of the total voice for your particular group measures out to be.
- Separate out your brand’s total number of mentions and divide it by the number calculated in the previous step. You can then do the same for each of your competitors.
How to Measure Share of Voice for SEO
The goal is to determine how well your brand ranks for a subset of relevant keywords, under the assumption that the higher your SERP position is, the more clicks (i.e. traffic, eyeballs, etc.) you’re likely to win over those below you.
Measuring share of voice for SEO tends to be a bit more involved than the social media share of voice equation outlined above.
To start, narrow down a list of three to five keywords that fall within a common theme (i.e. focused on a specific product or service). You’ll then proceed with the following steps:
- Create a spreadsheet to record the rankings of your brand in relation to the defined keywords.
- Search each of the keywords in non-incognito window on Google.
- Scan the first ten (and no more than twenty) organic results.
- From those results, record all the positions that you rank for on the spreadsheet.
- Calculating share of voice will then require measuring all noted ranks in relation to click-through rate (CTR) averages. In the spreadsheet, translate every rank recorded to its relative CTR.
- For each keyword, add the CTR numbers together and say hello to your final SOV number. And if you only ranked once for a page, no addition required!
- Repeat the same process for each of your competitors.
So, you can calculate share of voice using the information above OR you can let PowerPost do the work. Our PowerIQ dashboard keeps SOV top of mind and top of dashboard. Learn more here.