noun (θɔːt)
Why do we continue when we realise something isn’t right? As entrepreneurs and leaders our lives are busy so our loves are complex. The way we love ourselves and others is often compromised. The way we experience life is often constrained. Intense and exciting but narrow. These are choices we make even if we don’t realise we are making them.
Share of voice is a marketing term. Share of voice measures the percentage of media spending by a company compared to the total media expenditure for the product, service, or category in the market. So, what? Well, here is the so what. It has been shown, by actual, evidence based research, that the larger the share of voice of any given company the larger its market share turns out to be. Now, let’s substitute a few words in our understanding of share of voice and see what that can tell us.
Share of voice is a marketing term. Share of voice measures the percentage of media spending by a company compared to the total media expenditure for the product, service, or category in the market. So, what? Well, here is the so what. It has been shown, by actual, evidence based research, that the larger the share of voice of any given company the larger its market share turns out to be. Now, let’s substitute a few words in our understanding of share of voice and see what that can tell us.
There is a difference between activity and action though, which it’s useful to understand.
You can think of it like this. Activity is doing things. From day to day. Moment by moment. It maintains the status quo. More of the same. Faster, cheaper, better but the same. Action is changing things. From time to time. When it is needed. It alters the status quo. Something new. Different, more fitting, better and new.
Customers don’t see functions. They have no idea which group of people within an organisation have done what when they come into contact with you. Finance? Nah. Marketing? Nope. Operations? Nada. They don’t exist from the most important perspective in any business, from the perspective of the customer. So why do these false divisions matter so much to those inside an organisation and is it helpful to think like that?
