Delivered November 15, 2019. Contributor: Jennifer P.
Gain an understanding of how marketing spend impacts or correlates with share of voice and/or market share, with a focus on furniture brands, in order to determine how much budget to leverage for marketing campaigns
The basic formula for calculating social share of voice is total industry mentions / your brand mentions.
Once source shares that share of voice can and should be measured by both topic and sentiment, as simply having a high share of voice isn't useful if people are saying negative things about the brand.
It's noted that the average share of voice is typically above the average share of market for most brands.
It’s also noted that beyond market spend, there are several key strategies to increase social voice, which include maintaining an active presence, creating shareable content, and engaging with customers, all of which build conversations.