Understanding Your Brand's Share of Voice
The Rise of the Endless Aisle
In the past, the key to brands’ products jumping off the shelves was directly related to their visibility in physical storefronts. To get ahead of competitors, brands would vie for the best possible product locations–eye-level placements, end caps, and front-of-store displays. While these positions are still sought after today, there’s a new spot that takes precedence: the first page in online search results. In the age of the endless aisle, the key to getting your brands noticed is being front-of-mind for consumers when they commence an online search.
Data from the Commerce Department reveals that e-commerce is growing at a rate of approximately 15% per year, and it shows no signs of slowing down any time soon. Amazon is the primary retailer through which e-commerce is being conducted. More than half of all U.S. consumers begin their online product searches on Amazon, with 28% on search engines like Google and 16% on retailer websites. As e-commerce continues to revolutionize the way we shop, a brand’s location on the digital shelf is arguably far more important than that of the physical one.
Getting Your Products Seen on the Digital Shelf
With the rise of digital and fall of physical, brands must rethink their strategies for product promotion. Today, smaller sellers can capture sales that previously would have belonged to massive, well-known brands. Having a quality product or a household name is no longer enough to succeed. Smaller brands can outrank their larger, more reputable counterparts through listings with a greater number of reviews, more detailed descriptions, and rich media, among many more.
As brands analyze how they stack up to competitors in the search results, determining their share of voice is the first step. Share of voice represents the exposure a brand is getting relative to competitors. On the Amazon platform, it denotes a brand’s share of products displayed in the search results for a specific term. Share of voice is directly linked to brand awareness and product sales. By tracking this metric over time, an organization can understand where its strengths and weaknesses lie, as well as the steps it should take to improve.
Using Reviewbox Tools to Assess Your Share of Voice
Searchbox provides your organization with an in-depth look at its share of voice on Amazon for search terms related to its products. Simply load your desired search terms and product ASINs into the tool to begin creating your report. Searchbox will examine share of voice for both organic and sponsored products for any length of time. These reports will assess your brand’s share of voice and chart it alongside top competitors for the selected terms. Below is an example of term insights graphs created for the search term “binder” over a 90-day period. As your brand makes changes to listing components such as price, copy content, number of images, and more, they can be used to examine resulting changes to share of voice for the term.
Along with term insights, the report creates a category insights overview. The category insights overview presents a chart averaging your brand’s share of voice for the selected time period, displaying how it compares to competitors.
For a complete deep-dive into brand share of voice, check out our white paper on digital shelf ranking at IRCE in Chicago on June 25, 2019!
Swing by booth #567 to pick up your own copy of the white paper, learn more about digital shelf analysis, and more. You can schedule a one-on-one meeting with us here.
In our paper, we conduct share of voice reports for popular search terms and assess how brands with the best digital shelf ranking differ from those found later in the search results. Not only will the report cover the importance of your digital shelf ranking, but it will go into detail on the impact of metrics such as the number of images, average price, A+ content, and more.
For more information on how to get your own share of voice report, contact us at email@example.com.