All businesses aim for influence, recognition and visibility in their sector’s marketplace, but with no clear pathway to achieving it and no one size fits all approach, some businesses hope that these things simply come to be over time. Unfortunately, that’s not the case.  

The truth is that increasing share of voice takes a consistent, considered and concerted effort to build a credible reputation and become influential. It takes knowledge of industry issues, the courage to share opinions and a curated program of comms outputs.   

To help illustrate how this can be achieved using topical events, we’ve used the launch of the Government’s anticipated Industrial Strategy as an example of how this can be sustained over time.  

But firstly…what is share of voice?  

Share of voice is a metric that calculates how visible a business is within its industry. This should not be confused for market share and how much of the market your business takes up commercially, but rather measuring influence, recognition and awareness.  

Why is share of voice important? 

Share of voice is important because it’s an indication of public and competitor perception. It can help you understand how credible or trusted your business is viewed as, as well as brand awareness and recognition. This information can be benchmarked against competitors and help evaluate and optimise marketing strategies, as it can identify opportunities, giving you an edge in an already crowded marketplace.  

Building up share of voice often requires commenting on the big issues facing your sector. This helps to demonstrate that your company has its finger on the pulse with what is going on in the industry and is knowledgeable enough to form and share an opinion. Building a reputation as an expert also helps increase trust with customers and stakeholders.  

How do you measure share of voice?  

To calculate share of voice simply divide the number of your brand’s mentions by the number of total market mentions – in other words, your mentions added to all your competitors – and then multiply by 100.

This can be applied to almost any marketing metric, for example:  

• Number of editorial mentions. 
• Social media tags or engagement. 
• Any paid marketing metrics: for example, click through rates on PPC, or number of mentions in traditional print advertorial.  

Utilising industry issues or conversations:  

A huge part of successfully speaking for your sector requires tackling the most current challenges your industry is facing. In many cases it’s possible to plan activity ahead of topical events. Here’s an example of some of the things we would prepare ahead of time that would increase share of voice on the topic of the recently released Industrial Strategy.  

1.Prepare a comment in advance.  

It’s important to monitor the news around these announcements as details are often leaked or released ahead of time. This should give you enough information to form a short, snappy opinion ahead of time – perfect for the media to weave into their articles or for you to post on social media. 

 2. Ensure any upcoming, relevant content includes references.  

It may not be content focusing on the Industrial Strategy solely, but ensuring that any article on the topic of the growth-driving sectors or key issues it’s trying to address include a short reference to it, will feel more current and ‘expert’ without needing to have read the entire strategy. Having oversight of all content is crucial for this to be effective.  

 3. Offer more in-depth articles after the fact.  

Make time to research the topic so you’re able to give more in-depth advice and analysis. This will allow you to provide a thought leadership article after the announcement.  

Our tips for increasing your share of voice: 

1.Create a pipeline of opportunities.  

There’s no escaping the fact that share of voice takes time to build and effort to keep. It may be cliché but consistency is key. Having a set of monthly or quarterly targets or KPIs will ensure that this important activity is not overlooked, for example, aiming to participate at a speaking event once a quarter or proving key trade publications with one thought leadership a month.  

 2. But evaluate opportunities and choose wisely. 

While it may seem tempting to take every chance available to you, not all opportunities are good opportunities. Separating the wheat from the chaff and really understanding, which will reach your target audience and position you as an expert and industry leader is key to building both reputation and share of voice. It’s important to weave both quality and quantity into your activity.  

 3. Have an opinion.  

It may be stating the obvious, but commenting on topical events requires you to share your opinion. Often there’s some fear around choosing a side – stating whether something is good or bad – particularly shortly after an announcement has been made, but it’s vital for being perceived as an expert and building credibility.  

 4. Build a personal profile on LinkedIn.  

Whether it’s being quoted in an article or participating in a panel, sharing these activities on your personal social media will often receive more engagement than the company’s profile. Including relevant backlinks is essential to extending the reach and maximising impact.  

Want to increase your share of voice but don’t know where to start? Working with an experienced PR and comms agency can help to increase your business’ share of voice and stand out among competitors. Get in touch with the Pearl Comms team today for advice and recommendations.