Additionally, this data serves as an essential safeguard. By gaining visibility into the entire landscape of brand conversations, you can proactively address emerging issues and minimize potential risks that might otherwise go unnoticed.
With Sprout Social’s Listening capabilities, you’re equipped to keep a pulse on brand conversations and boost your share of voice with relevance and positivity. Use it to monitor fluctuations in brand sentiment, helping you decode the factors driving these changes and respond effectively.
Sentiment analysis dashboard for Sprout Coffee, showing job seekers data an 82% positive sentiment summary and sentiment trends over time.
How to calculate share of voice
Now that we’ve explored the benefits of measuring share of voice, let’s dive into how to measure it. Use the following formula to calculate share of voice:
Share of voice = Your brand metrics / Total market metrics
This formula applies across all marketing channels, with slight variations in specific metrics. For example, you might track brand mentions across Facebook, Instagram, X (formerly known as Twitter) and more, for social SOV, while the volume of brand mentions across media channels determines media SOV. In this formula, “brand metrics” refers to the data points you’re tracking for your own brand, while “total market metrics” includes the same data points for all relevant competitors in your industry.
While this formula provides a basic understanding of SOV, it’s important to remember that it doesn’t capture everything. Qualitative factors, such as the impact and relevance of mentions, also play a crucial role.