The dilemma in Modern Branding: Share of Voice (SOV) vs Share of Heart (SOH)

In the modern world of marketing and branding, two key metrics have come forth: Share of Voice (SOV)?and Share of Heart (SOH). Both are important, but they mean different things and affect brands differently. Being able to understand the importance and relevance of each of these and then strategically and judiciously using them can provide the brand the winning advantage in any competitive category.

Decoding Share of Voice (SOV)

Share of Voice quantifies how much a brand is visible and audible in relation to its competitors - advertising spends, social media mentions, online visibility, media coverage etc… To put it simply, SOV measures a brand's visibility and noticeability in the market.

Why is SOV Important?

· A high SOV helps in keeping the brand top-of-mind, enhancing market presence, garnering attention and consideration and increasing visibility viz-a-viz competition.

· Regular exposure through different channels helps the brand increase consumer awareness, recognition, and recall.

· SOV helps a brand to understand the market and competition better and craft strategies with strong insights and optimizing its marketing efforts more efficiently and effectively.

· It ultimately leads to a high SOV that makes consumers familiar with the brand, which in turn increases market penetration.

Decoding Share of Heart (SOH)

Share of Heart, on the other hand is about the emotional quotient and connection a brand has with the customer. This reflects a deeper loyalty, love, advocacy and lasting resonance with the brand amongst its audience.

Why is SOH Important?

· High SOH Brands ensure better customer loyalty. Experiencing a deeper emotional connection means that customers are more likely to return and buy again.

· Very often, customers who love the brand become brand advocates and share their experiences through word-of-mouth or other online platforms.

· Consumers who have a strong connection to a brand are 70% more likely to recommend the brand and become customers of choice even when there is another similar product in the category.

· SOV can help in creating visibility initially, but it is SOH that sustains relationships and thereby ensures long-term sustainable growth. Strong emotional ties lead to lasting customer relationships, which are more valuable than the quick wins expected of brands with higher visibility.

· Brands can therefore differentiate themselves in the most cluttered markets — by crafting unique emotional bonds through SOH.

· SOH, above all else, builds stronger Love for a brand. This emotional association with a brand is what we call Brand Love.

Which Makes Better Business Strategy Today?

The significance of SOV vs SOH depends on a number of factors like market conditions, maturity of the brand, industry and category and marketing objectives and goals. However, current trends are showing a more favourable inclination towards SOH for a number of reasons:

1. Consumer Behavior:?With the rise of modern consumers there is an increasing demand for brands that resonate with their values and fulfil them on a deeper experiential level. Just higher visibility cannot succeed if there is no emotional connection.

2. Digital and Social Media: The growing importance of social media provides greater opportunity and more accessible avenues for consumers to profess their love, loyalty and relationship with brands. In terms of communication, user-generated content and word-of-mouth are driven by SOH.

3. Institutional Markets:?Emotional branding in saturated market can help a brand differentiate rather than just high visibility.

4. Sustainable Growth:?SOV helps in creating the initial awareness and build market penetration, but it’s SOH that’ll sustain long-term growth, build stronger and emotional customer relationships and rewarding experiences.

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The Need for Balance

Ideally, most brands should try to strike a balance between SOV and SOH. Better SOV will ensure that the brand is more visible and is more dominant in the market. But SOH will help build emotional, meaningful and long-lasting relationships with customers. Balanced strategies are sometimes preferred:

· Integrated Approach:?A mix of communication, community-building activities and customer engagement.

· Content Marketing:?Producing content that not only attracts the audience but also resonates with them at an emotional level.

· Experiential Marketing:?The experience customers have with the brand across touchpoints - from customer service to product quality and engagements - create a positive emotional connection which often translates to unwavering love for the brand.

Here are some recent case studies that show how brands have done this:

Zomato

SOV: Zomato spends a great deal on the marketing and partnerships, giving it high visibility and satisfying consumer engagements.

SOH: Their fun and relatable social personality helps contribute to building a strong emotional bond with consumers, fuelling loyalty, trust and love for the brand and service.

Nykaa

SOV: Nykaa's extensive digital marketing & influencer collaborations helped build brand awareness, relevance and desire amongst its target audience.

SOH: Through its approach of championing the concept of beauty and inclusivity, Nykaa has struck an emotional chord with its consumers - encouraging trust, loyalty and engagement.

Mamaearth

SOV: Mamaearth uses influencer marketing and balances their social media presence to grab consumer eye balls.

SOH: Initiatives like the “Plant Goodness” campaign reinforced their commitment to sustainability and eco-friendly products. This helped create strong emotional bonds with consumers.

In conclusion, the new landscape of branding depends on both Share of Voice and Share of Heart. While a high SOV might help with idling attention, it is the SOH—the share of heart—that cultivates that emotional pull and loyalty.

Brands that find the right blend between both are able to achieve high visibility with potential customers, in addition to establishing a lasting connection.

Consumer preferences and behaviours are changing, which is why succeeding in the cut-throat marketplace will increasingly require paying attention to both SOV and SOH equally, thereby driving brand love.