The key to building a brand and growing market share? Let's talk about ESOV.

Every now and again I like to shine a light on one of the many reasons why empowering your employees is critical to modern-day business success.

So, for the marketing and business theorists amongst you, I think you're gonna like this one! It's a beaut! ??

One school of thought around how to grow a brand and ultimately market share is through the concept called?excess share of voice (ESOV).??

That is the rate at which a brand grows or shrinks tends to be proportional to its “extra” share of voice?(ESOV).?

Extra share of voice is defined as the difference between your share of voice and your current share of market.

You with me!?

So, for example,?an ESOV of 10% could lead to market share growth of 0.7% per year. ??

Plus!

Research?also shows that a 10% increase in share of voice can decrease price sensitivity by 5-20%.

Meaning you could be charging more for your product or service, with people willing to pay more for a strong, familiar and visible brand they trust.??

But...

And here's the catch.

How do you increase your share of voice WITHOUT increasing your media spend or production budgets????(Comment below with your suggestions ??)?

Well, one way is by activating your employees and partners to amplify your share of voice on social... ?????

That's right!

One solution is already in the same office or at the end of your Teams/Slack channel.

Think of it as digital word of mouth... AT SCALE.

All centralized, measurable and even automated for those who choose.?

Not convinced? ????♂?

There's no better way to test the impact of your own workforce than to try it for yourself.

So we've made it easy. ??

You can?jump into a FREE trial of DSMN8 right away?(there's no commitment and we don't even ask for credit card details).

Now you can increase your organizations share of voice across social channels and see the impact on your market share.

#Marketing #Branding #GrowthMarketing #MarketShare