For the brand value of a business to increase and be on a steady footing, the business must feature in prominent online discussions. It should be seen as the leader in the industry. So, how does a company find out if it has a decisive say and presence online?
It can do so by measuring its share of voice – the level of visibility a business has in comparison to its competitors. In simple terms, it measures how much hold you have over the market and if that makes you more or less popular than your competitors. The measurement is quantifiable in percentage to indicate the amount of advertising share a business has on a particular platform.
Let’s study the concept with an example.
Suppose you come across an article online. The webpage features four advertisements from four different brands. This means that each advertiser has a 25% voice share. Now, let’s suppose one of the advertisers jumps up to two ads on the page while the others remain the same. This will cause the voice share of that particular advertiser to double because he now has more advertising space on the same page.
Why it is important to track social shares of voice
Keeping track of their social voice share can help businesses with the following.
- Edging out the competition – One of the major advantages of measuring social voice shares is that it lets businesses understand where they stand. However, it also lets them know where their competitors stand currently. They can modify goals and business tactics likewise to edge other competitors.
- Drafting effective campaigns – By measuring share, businesses can understand which of their campaigns have been successful and which ones haven’t. They can use this information to draft future campaigns to hit the mark with their target audience without fail.
- Proper budgeting – A voice share can tell you which social media platform you’ve been more successful in than the others. For example, you may have a considerable following on Twitter, but you are underrepresented on Instagram. You can then analyze the reason behind this setback and study what makes your competitors overtake you on the platform you aren’t doing so well on.
- Effective customer engagement – Social voice shares can give you an incredible insight into topic analysis and customer sentiments. You can use this data to form your brand’s image, voice, and content plan. This kind of approach shows customers you value their opinions and will keep them hooked on your website.
Ways to boost share of voice on social media
Once businesses realize how important social shares of voice can be, the next step is to boost it. By following the significant steps below, brands can increase their social voice shares quickly.
Have an active social media presence
There are millions of people using social media around the world each day. If you make one Twitter post a day or one Instagram post a week, chances of people overlooking your business are high. Thereby, it is essential to be active across major social platforms on a consistent, daily basis. You can use a social media calendar to plan out content and other posts for the month.
Post content people would like to share
While good content is effective, it becomes more potent if the content is share-worthy. Churning out industry-related tips, FAQs, and other helpful information will cause readers to look at you as a reliable content source. When they share your posts, it will expand your share of voice online and boost brand awareness.
Choose audience engagement over broadcasting
Many businesses do not respond to customers who post comments on their content pieces. This can reflect poorly on these businesses as it indicates a certain amount of indifference on their part. It is always preferable to engage in meaningful conversation with your customers to boost your social shares of voice. For instance, responding politely even to rude customers can get people to talk positively about your brand.
Lead conversations in the industry
A business must start critical conversations on major social media platforms to cement its position as an industry leader. The point is to get people to notice a brand as a major thinker and not just another manufacturing unit. There are niche forums, chat applications, and popular media platforms that can help businesses start valuable conversations online.
A key thing to note here is that not all conversations about a brand may be positive. In such cases, while there may be more chatter, it may not be of much use to the company. So, when boosting and measuring social shares of voice, businesses should maintain a positive online presence.