Never trade trust for trust attention!

As a business owner, manager or marketer, you face many tough decisions as it relates to driving growth and return on investment. The Marketing playground especially in the online world, has become more crowded which means a noisy playground populated with my many brands fighting for the audience’s attention. In this fight for attention, are you paying attention to your ‘Share of Voice’ (SOV) or are you just shouting by posting?

Your ‘Share of Voice’ determines where your brand stands when competing for market share. It helps you understand how your brand is performing compared to your competitors and whose voice your audience is mostly listening to.

Sometimes it’s tempting to shift your budget away to shorter term initiatives as opposed to focusing on brand investment activities that result in increased share of voice, loyalty and credibility, however, according to Professor Byron Sharp, director of Ehrenberg-Bass Institute for Marketing Science at the University of South Australia and author of How Brands Grow, “A brand’s mental availability refers to the probability that a buyer will notice, recognize and/or think of a brand in buying situations. It depends on the quality and quantity of memory structures related to the brand.” That’s because Share of Voice doesn’t refer to the percentage of sales but to the percentage of discussion.

A brand with high mental availability will be the one that is most top of mind. So, how do you build mental availability for your brand? Build Share of Voice (SOV)! This is a key metric that serves as a barometer for your brand’s presence in the conversations about your category. It includes social, search, and advertising across channels, and should reflect both paid and organic efforts. It’s a sure way to drive growth and increase market share, especially during tough economic times. Here are some tips to improve your Share of Voice:

Know your audience priorities

Regardless of the medium of communication or piece of content, always demonstrate an understanding of your customer’s needs and wants and you will make a more impactful impression. That impression is likely to multiply due to engagement and sharing on social, improved ranking in search engines, or increased conversion on ad media.

Focus on non-branded search

When your brand shows up during a customer’s search, you not only increase awareness, but you demonstrate that you are relevant to what your customers care about. Be that as it may, that is not suffice; you should also invest in paid media and ensure you are in the right channels. Understanding where your audiences are – as well as your competitors – is important. You may choose to focus on SOV in a specific channel.

Spark conversations and discussions

This organically grows your social Share of Voice. Take a stand on a hot button issue for example can create a buzz (this depends on the field you are in). Stand behind your brand values, ask questions and solicit feedback from your audience to generate engagement.

Respond promptly

Respond to what your followers ask or comment. Why? This helps to build a relationship and increase brand loyalty. Just a touch of humanity can help to build a positive image for your brand.

Budget accordingly

Once you determine how SOVw ill help your brand, you can allocate your resources accordingly. If your brand isn’t present on a certain media channel, investing in sponsored content or working with the right influencers can help increase your Share of Voice.

Candice Sealey is the Founder & Principal Consultant at Ignite! a Full-service Marketing & PR Consultancy that helps businesses/brands to stand out and communicate the right message to the right people at the right time through Strategy, Marketing, Media services and Design solutions. She is also a freelance content writer, advertising copywriter, voiceover talent, media personality. Follow us on FB & IG @igniteresults Phone:784-432-2223. Email: igniteresults@gmail.com