Earned Share Of Voice

What is Earned Share Of Voice?

Earned Share Of Voice (ESOV) is a marketing metric that quantifies the percentage of conversation and visibility a brand or entity receives within its industry or market compared to its competitors. It is a key indicator of brand awareness, influence, and the effectiveness of marketing and public relations efforts in generating organic attention. Unlike paid or owned media, earned media encompasses mentions, shares, reviews, and discussions that occur independently of direct company spending.

In essence, ESOV measures how much the public is talking about a brand relative to the conversation surrounding its peers. This metric is particularly valuable for understanding a brand’s resonance and its ability to capture audience attention organically. It reflects the success of strategies aimed at fostering positive word-of-mouth, securing media coverage, and engaging with consumers on social platforms and other digital channels.

Analyzing ESOV provides strategic insights into competitive positioning, identifies emerging trends, and helps marketers gauge the impact of their campaigns beyond direct sales figures. A high ESOV often correlates with strong brand loyalty, increased credibility, and a sustainable competitive advantage, as it signifies that a brand is a relevant and prominent voice in its sector.

Key Takeaways

• Earned Share Of Voice (ESOV) measures a brand’s organic visibility and conversation share relative to competitors.
• It reflects the success of PR, social media, and content marketing in generating organic buzz and mentions.
• ESOV is a crucial indicator of brand awareness, influence, and competitive standing in the market.
• It highlights how well a brand is resonating with its audience and capturing attention organically.

Understanding Earned Share Of Voice

Earned Share Of Voice is built upon the concept of earned media, which includes any form of exposure or recognition gained through unpaid channels. This can range from news articles and blog posts to social media shares, reviews, and forum discussions. The ‘share of voice’ aspect refers to the proportion of this earned media that specifically mentions or discusses a particular brand within a defined competitive set.

Calculating ESOV typically involves monitoring media mentions, social media conversations, and other online discussions related to a brand and its competitors. Specialized analytics tools are often used to track these mentions across various platforms and sources. The total volume of conversation related to the industry or a specific set of keywords is calculated, and then the volume attributed to the brand in question is divided by this total. This yields a percentage representing the brand’s earned share of the overall conversation.

A high ESOV suggests that a brand is successfully capturing the attention of its target audience and influencers, often through compelling content, strong brand messaging, or positive public relations. Conversely, a low ESOV might indicate that a brand is not generating enough organic buzz or is being overshadowed by competitors in public discourse.

Formula

While there isn’t a single universally agreed-upon formula, a common approach to calculating Earned Share Of Voice is:

Where ‘Brand’s Earned Mentions’ are the total number of organic mentions (e.g., social media posts, news articles, reviews) of the brand, and ‘Total Industry Earned Mentions’ is the sum of earned mentions for the brand and its key competitors within the same period.

Real-World Example

Consider two competing smartphone manufacturers, ‘TechGiant’ and ‘MobileInnovate.’ Over a month, a media monitoring service tracks all relevant industry conversations and mentions. ‘TechGiant’ is mentioned 5,000 times across news sites, blogs, and social media, while ‘MobileInnovate’ is mentioned 3,000 times. The total industry mentions tracked for both brands and their immediate competitors is 15,000.

Using the formula:
ESOV for TechGiant = (5,000 / 15,000) * 100 = 33.3%
ESOV for MobileInnovate = (3,000 / 15,000) * 100 = 20%

This example shows that ‘TechGiant’ has a higher Earned Share Of Voice, indicating it captured a larger portion of the organic conversation in the smartphone market during that period compared to ‘MobileInnovate.’

Importance in Business or Economics

Earned Share Of Voice is a critical metric for businesses seeking to understand their market presence and brand perception beyond paid advertising. A strong ESOV signals organic popularity and credibility, which can lead to increased brand recall, customer trust, and ultimately, market share. It helps businesses assess the effectiveness of their public relations, content strategy, and social media engagement, allowing for data-driven adjustments to marketing efforts.

Economically, ESOV provides insights into market dynamics and competitive landscapes. Brands with higher ESOV often have a more significant influence on consumer purchasing decisions and industry trends. Understanding this metric can help businesses allocate resources more effectively toward strategies that generate genuine interest and discussion, fostering sustainable growth and a competitive edge in the long run.

For investors and stakeholders, ESOV can serve as an indicator of a company’s brand health and its ability to capture market attention organically, which can be a precursor to financial performance. It offers a more nuanced view of market penetration than solely relying on sales figures or paid media reach.

Types or Variations

While the core concept of Earned Share Of Voice remains consistent, its measurement can be tailored based on the specific focus:

• Social Media ESOV: Focuses solely on mentions and engagement within social media platforms.
• Media ESOV: Concentrates on mentions and coverage in traditional and digital news outlets, blogs, and publications.
• Influencer ESOV: Tracks the share of conversation generated by key industry influencers and thought leaders.
• Sentiment-Adjusted ESOV: Incorporates the sentiment (positive, negative, neutral) of mentions to provide a more qualitative view of earned visibility.

Related Terms

• Share of Voice (SOV)
• Earned Media
• Brand Awareness
• Media Mentions
• Public Relations (PR)
• Sentiment Analysis

Sources and Further Reading

• Sprout Social: Earned Share of Voice
• Cision: What is Earned Share of Voice?
• Meltwater: Earned Share of Voice

Quick Reference

Earned Share Of Voice (ESOV): The percentage of organic media mentions and conversation a brand achieves compared to its competitors within a specific market or industry. It is a measure of unpaid brand visibility and influence.

Frequently Asked Questions (FAQs)