Three Ways to Measure Your Client's Share of Voice
Thanks to innovations in how we communicate, nearly every individual or organization has the means to share their message with the world. These changes have led to overcrowded channels of communication when it comes to getting your message out over your competition.
In terms of understanding how your organization measures up to the competition, measuring share of voice is one of the best ways to see where your communication strategy is working – and where it's not.
Share of voice (SOV) is the percentage of all content and conversations about your company, compared against those of your competitors. Depending on what type of content you are measuring, SOV usually encompasses paid and earned media coverage. SOV evaluations can be customized to focus on specific initiatives, including media relations, social media, and advertising, among others.
Knowing where you stand when evaluating your organization's position in the market should be measured on a quantitative, qualitative and tonal basis. When it comes to media relations, here is how you can approach measuring SOV:
1. Quantitative Measurement
When measuring SOV quantitatively, you are seeking to understand the overall numerical evaluation of how many times your organization appeared in the media.
This form of measurement is often done manually or through the use of media monitoring services. When measuring SOV, it's important to set parameters to ensure accurate numerical reporting.
2. Qualitative Measurement
SOV goes beyond the number of times your organization appeared in the media. It's also important to understand the quality of your media placements.
When measuring SOV for quality, you can score media placement in a number of ways. For example, you can score your and your competitor's placements by tier or by type. Outlining clear guidelines for scoring will ensure accurate results.
3. Tonal Measurement
In certain situations, it's valuable for your organization to understand the sentiment surrounding media placements. How is the media portraying the company?
Tonal measurement sheds light on how your organization is portrayed in media placements, whether that is positive, neutral or negative.
When compiling metrics, the amount of coverage garnered shouldn't be the only one that is measured. For any company or organization, it's important to look deeper into your overall communication results to get a pulse on how you measure up against the competition.
To learn more about how you can gauge share of voice for your organization and/or clients, visit aboutsage.com/connect.
Sage Communications is committed to investing in a variety of external sources to enrich the understanding of the industries we work in. From guest speakers to webinars, conferences and other learning opportunities, Fishbowl will bring you analysis of the behind-the-scenes experiences here at Sage.