Zenith Media posted an article called Measure the share of brand experience, not SOV.
“A commonly used method for setting budgets is the Jones Model which exploits the relationship between share of media spend (share of voice or SOV) and share of market (SOM), based on a conjecture made by academic John Philip Jones. He proposed that in each category there was an ‘equilibrium share of media spend’ related to their share of market. A brand that invested more than its equilibrium would be expected to increase category share. Conversely, a brand that invested less than its equilibrium would decrease category share. Equilibrium increases with size of brand –so bigger brands need to invest more to stand still.”
However, “consumers are influenced by communication and messages that lie beyond paid media:
- Paid media (TV, internet display, outdoor, etc.). These are media that are bought and traded, and owned by a third-party media owner.
- Owned media (packaging, brand website, call centre, consumer-facing personnel, etc.). These are assets over which the brand owner has control.
- Earned media (word of mouth, social, expert/punter reviews, etc.). This is coverage accrued through other sources over which the brand has no control, earned without any investment.”
“Brands could have an identical SOV but very different communication mixes, each used to a very different effect.”
Zenith presents a proprietary metric called Brand Experience Share to account for the effects of all three categories, rather than only paid media.
“Rather than using industry-reported spend as an indicator of what has been pushed out in advertising to people, each Touchpoints ROI Tracker study is based on speaking to consumers about what they’ve noticed, and what has actually influenced them when purchasing in a category. This means we consider the activity that resonates with potential customers, rather than just a blanket measure of everything that has been invested in.”
“What we are doing here is to reinterpret Dynamic Jones Analysis by replacing share of paid media spend with share of brand experience”