Marketing is About Memory: Why Share of Voice is the Secret to Revenue Growth.
Explore how owning mental real estate through share of voice drives brand recall, visibility, and long-term growth.
Marketing’s Ultimate Goal: Memory
At its core, marketing is about memory. The brands that win aren’t always the ones with the flashiest campaigns or even the best products. The ones that succeed are those that stay top of mind. When customers think of a product category, they often choose the first brand that comes to mind. That’s why marketing’s ultimate goal is to embed your brand in people’s memories. But in today’s cluttered media environment, achieving this is harder than ever.
This is where share of voice (SOV) comes in. SOV measures your brand’s visibility in the market relative to competitors. Research shows a strong link between SOV and share of market (SOM). Brands that achieve Extra Share of Voice (ESOV) by outspending their market share see faster revenue growth.
The Connection Between SOV and SOM
Visibility Fuels Growth
According to The Long and Short of It, by Les Binet and Peter Field, the correlation between ESOV and market share growth has doubled in the digital era. Campaigns now achieve 0.06 points of annual market share growth per ESOV point, compared to 0.03 points in earlier periods. Sustained investment in marketing over 3+ years further amplifies ESOV efficiency, proving that consistent visibility pays off in the long term.
This direct relationship between SOV and SOM demonstrates why investing in visibility isn’t optional—it’s a necessity for growth. Companies that dominate SOV in their industry often lead in customer recall, preference, and loyalty.
Winning Mindshare Before Market Share
The Foundation of Mental Availability
Before you can dominate market share, you must dominate mindshare. Winning mindshare means being the first brand customers think of when they need a product or service in your category. Mental availability is built through repeated, consistent messaging across channels that resonates with your audience.
To win mindshare:
- Benchmark Your SOV: Compare your share of voice to competitors in your sector using tools like the Marketing Budget Benchmark Tool. This highlights whether you’re spending enough to be noticed.
- Invest in Broad Reach: Start with well-crafted content that conveys a definite point of view, ensuring your messaging resonates and stands out. Then, utilize channels with broad visibility—such as digital ads, OTT video, or social media—to maximize your audience exposure.
- Prioritize Long-Term Campaigns: Long-term brand-building campaigns create lasting mental availability, ensuring your brand stays top of mind over time.
The ROI of Share of Voice
Memory Drives Revenue
SOV doesn’t just build brand recall—it drives revenue growth. Brands with higher SOV relative to SOM outperform competitors in both immediate sales and long-term profitability. Consider this:
- Mental availability ensures your brand is the first choice when a buying decision arises, significantly increasing conversion rates.
- Customers are more likely to pay a premium for brands they trust and remember, improving price elasticity.
By increasing SOV, you’re investing in what marketers call the memory effect: the ability to influence customer decisions long after an ad or interaction. The result? Consistent revenue growth and a stronger market position.
Action Steps to Maximize SOV
- Audit Your Current Visibility: Assess your SOV versus SOM to identify gaps in your competitive position.
- Align Spend with Goals: Allocate your budget strategically using frameworks like the 60/40 rule—60% for long-term brand-building and 40% for short-term activation.
- Track and Adjust: Continuously monitor your SOV and ROI to refine campaigns and optimize your marketing spend.
The Bottom Line
Marketing isn’t just about spending—it’s about staying memorable. Share of voice is the engine that powers mental availability, brand recall, and revenue growth. Without it, competitors will dominate mindshare, leaving your brand behind.
Ready to evaluate your share of voice and take your marketing strategy to the next level? Start with the Marketing Budget Benchmark Tool to understand where your brand stands and identify opportunities to amplify your impact.
