If you’re looking to grow your business, one of the best platforms you can use is Amazon. A dominant player in the eCommerce ecosystem, Amazon is a great way to reach a large customer base. That said, selling on Amazon is a complex process and there’s a lot to consider when you’re trying to get your share of the pie.
In this blog post, we will discuss what Amazon Share of Voice (SOV) is, how you can measure it, and how to optimize your content for it. Let’s get started!
Amazon Share of Voice (SOV) is the percentage of impressions your brand receives compared to the total impressions available in a given category. It indicates the level of visibility your brand has within a given category and/or search query on Amazon, making it a useful way to track your brand’s performance and identify areas for improvement.
Gaining an understanding of your SOV and the SOV of others is a critical step in determining how well your brand is doing in comparison to other companies. Armed with this knowledge, you can analyze which strategies are working for you and which need to be improved or adjusted. It can also provide valuable insights into changes that need to be made in order to optimize sales, such as which keywords should be targeted or if promotional campaigns are necessary.
One way to measure SOV is through the Amazon Advertising Console, which provides strategic insights into how customers interact with products within the platform. The console provides data related to impressions, clicks, sales, prices, ratings, and reviews, so you can better understand how customers perceive your product compared to competitor products.
There are also third-party tools firms have developed to help brands gain a greater understanding of their SOV. Amazon’s resources are helpful, but these companies are often able to drill down even more into your data and present it in different ways to help you understand what course of action to take.
Product listings are the first thing customers see when searching for products on Amazon, so it’s important that they contain accurate information and appealing visuals such as images and videos that differentiate them from others on the platform. Additionally, optimizing your product description with relevant keywords can increase its visibility in search results pages, ultimately leading to more clicks and higher conversion rates.
Reviews and ratings play an important role in customer decision-making when shopping online, and this means Amazon also takes stock in them when they decide what SOV to award to a given product. Positive reviews create trust between brands and potential customers by providing social proof that others have purchased products from them before. Amazon knows that customers who see these types of reviews are more likely to actually buy the product, which is why they increase SOV for these products.
By actively engaging with customers through email outreach programs or incentivized reviews, brands can encourage customers to leave positive reviews that boost their average star rating and ultimately increase their share of voice on Amazon.
To further increase visibility on Amazon’s platform, brands can leverage paid advertising campaigns, such as sponsored products or sponsored brand ads (formerly known as headline search ads) which target likely purchasers based on interests or searches they’ve done previously on the site. These strategies tend to be particularly beneficial for increasing SOV on competitive keywords or categories with high traffic volumes from shoppers who may not find your product through organic search results alone.
To monitor progress over time and ensure desired reach metrics are being met, use Amazon Advertising Console metrics or other analytics tools regularly to track key performance indicators such as impressions, clicks, and conversion rates. Additionally, using recall metrics from surveys can measure a brand’s awareness among shoppers who have seen their products listed in search results pages but did not end up making a purchase. This helps brands gain more insight into customer behavior and identify any changes needed going forward.
