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Measuring Share of Voice - Centerline Digital - March 2016

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Share of Voice measures how often a brand is potentially noticed across public-facing channels and can be simplistically calculated by impressions (owned / total competitive brand).

When measuring Share of Voice, it’s important to consider how heavily each data point may be measured based on brand or campaign objectives. Our goal is to determine which KPIs/metrics are not only most important, but have the highest correlation to performance and ROI. This weighting system is contingent on brand objectives.

Learn more at: http://www.centerline.net

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Measuring Share of Voice - Centerline Digital - March 2016

  1. 1. TEXT Measuring Share of Voice CENTERLINE POV ON SHARE OF VOICE | 2016 Meghan McKeon, Senior Digital Strategist Pat Garvey, Business Intelligence / Analytics Director
  2. 2. Share of Voice measures how often a brand is potentially noticed across public-facing channels and can be simplistically calculated by impressions (owned / total competitive brand). 2 WHAT IS SHARE OF VOICE? Impressions Media Mentions Conversation Volume Page Views
  3. 3. When measuring Share of Voice, it’s important to consider how heavily each data point may be measured based on brand or campaign objectives. Our goal is to determine which KPIs/metrics are not only most important, but have the highest correlation to performance and ROI. This weighting system is contingent on brand objectives. 3 QUANTITATIVE CONSIDERATION FOR MEASURING SHARE OF VOICE KPI Weighting Benchmark Actuals Performance Impressions 35% 1.5MM 1.7MM +13% Clicks 30% 100K 89K -11% Page Views 20% 10K 15K +50% Sentiment 15% 95% 96% +1% SAMPLE:
  4. 4. Segmenting Share of Voice into different categories (i.e. digital, advertising, media) can help identify opportunity gaps and optimize brand priorities. For example, if a brand equally allocates spend across digital, advertising and media efforts and discovers unequal Share of Voice across those properties, then the brand may reconsider shifting allocations in order to achieve an increase in Share of Voice within the identified category, assuming that aligns with a brand’s goal. 4 KEY LEARNING FOR MEASURING SHARE OF VOICE 0 25 50 75 100 Digital Advertising Media 0 25 50 75 100 Digital Advertising Media Spend SOV With a baseline equal spend across categories, there’s lower SOV in advertising Brand could consider reallocating spend to improve advertising DOV
  5. 5. Outlying factors may also impact overall Share of Voice, such as: QUALITATIVE CONSIDERATION FOR MEASURING SHARE OF VOICE 5 Brand Size Campaign Quality Paid Media Environmental Conditions Share of Voice (revenue, number of employees) (health of industry, company crisis)(advertising & media buying budget) (how well a campaign is resonating with customers)
  6. 6. When measuring within relatively controlled environments, Share of Voice can be a valuable metric in determining campaign success. For example, if a brand participated at a conference event along with its competitors, we would consider this a controlled environment because sponsorship costs, floor space and attendees are relatively measured equal across all brands. In this case, we are more easily able to distinguish any outlying factors and better leverage Share of Voice to measure performance. 6 KEY LEARNING FOR MEASURING SHARE OF VOICE
  7. 7. Share of Voice is only one piece of the measurement pie. Although Share of Voice can help benchmark a brand’s current standing against competition, it should be reported alongside a holistic, metrics-driven strategy. 7 LOOKING AT SHARE OF VOICE HOLISTICALLY Share of Voice AWARENESS COMMUNITY CONSIDERATION
  8. 8. A well-integrated system of measurement can help streamline performance quality and fuel an agile approach to marketing (see: Agile Marketing Framework). KEY LEARNING FOR MEASURING SHARE OF VOICE 8 AWARENESS COMMUNITY CONSIDERATIONActions / Clicks Page Views Sentiment Engagements Brand Advocates Reach / Impressions SEO Ranking Retargeted Clicks Retargeted Content Conversation quality Share of Voice
  9. 9. Measurement is a key component for developing an agile marketing framework and driving engagement with prospects and customers. Centerline partners with organizations to develop custom marketing measurement programs. To get started, we can work together to: • Develop a multilevel success measurement plan (granular to high-level) • Define KPIs for each stage within the measurement framework • Establish measurement benchmarks for content and campaign performance • Implement monitoring and alert methods/tools for rapid content iteration 9 NEXT STEPS
  10. 10. TEXT Thank you! 10 Centerline Digital 509 W. North St | Raleigh, NC 27603 919.821.2921 centerline.net

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