What is your Online Share of Voice on the Internet?
Since we as Marketers do not have access to website traffic data for our competitors, nor do we know how much they are spending in digital media, here is a little tip on how to gauge your online share of voice in the marketplace. First you should pull traffic data for your site and your top 4 competitors from Compete.com.
If you haven’t used Compete, it is a powerful tool that can help you track the competition. In addition to providing website traffic, it will also tell you what keywords are popular for all brands, what affiliate links, and more.
Back to internet share of voice, I not only like to compare competitor unique visitor data for my clients, but also show an estimate of how much money the competition is spending online (since we know that paid search and online display have the highest correlation with website traffic). By pulling unique visitor data from Compete, we can show the percentage of ‘digital share of voice’.
From looking at the example above, we can see that recently Budlight.com has been taking over as its online share of voice has increased the past two months. How is this helpful? Tracking this will provide a benchmark as to how much share of online voice you have with your online advertising budget.
This is just one of the insights you can get out of Compete.com. There is much more insight you can pull especially when it comes to search. Feel free to download any of my free advertising data analysis tutorials here. Thanks!
