Share building in marketing is the process of increasing brand awareness and customer loyalty by creating and distributing valuable content that resonates with your target audience. This strategy is essential for businesses looking to establish a strong online presence and engage with their customers in a meaningful way. In this comprehensive guide, we will explore the key elements of share building in marketing, including the importance of creating shareable content, leveraging social media, and measuring success. Whether you’re a small business owner or a seasoned marketer, this guide will provide you with the tools and insights you need to build a loyal following and grow your brand. So, let’s dive in and discover the power of share building in marketing!
Understanding Share Building in Marketing
The Concept of Share Building
Share building is a marketing strategy that aims to increase the share of voice (SOV) of a brand in relation to its competitors. The concept of share building involves actively promoting a brand and its products or services to gain a larger share of the market and increase brand awareness.
Definition of Share Building
Share building is the process of increasing the market share of a brand by creating and executing marketing campaigns that focus on the brand’s unique selling points and values. The goal of share building is to establish a brand as the preferred choice for consumers in a particular market.
Importance of Share Building in Marketing
Share building is an essential component of a successful marketing strategy. By increasing the SOV of a brand, companies can differentiate themselves from their competitors and establish a strong brand identity. This can lead to increased customer loyalty, higher sales, and improved financial performance.
In addition, share building can help companies to identify areas where they need to improve their products or services in order to better meet the needs of their target audience. By monitoring their SOV, companies can track the effectiveness of their marketing efforts and make data-driven decisions to optimize their marketing campaigns.
Overall, share building is a critical aspect of marketing that can help companies to build strong, recognizable brands and increase their market share.
Share Building vs. Share of Voice
- Share of Voice (SOV)
Share of Voice (SOV) is a metric used in marketing to measure the proportion of all the advertising and marketing communications within a specific media vehicle or market, that are attributable to a particular brand or company. SOV is typically measured as a percentage and can be calculated by dividing the total number of impressions or exposures of a brand’s advertising by the total number of impressions or exposures in the same media vehicle or market during a specific time period.
- Differences between Share Building and SOV
While SOV is a metric that measures the visibility of a brand’s advertising in relation to its competitors, share building is a strategic approach that focuses on increasing a brand’s overall market share. Share building involves creating a unique value proposition for a product or service, and using various marketing tactics to increase brand awareness, consideration, and loyalty among potential customers.
Share building is a long-term approach that is focused on creating sustainable growth for a brand, whereas SOV is a short-term metric that measures the immediate visibility of a brand’s advertising in a specific market. SOV can be influenced by factors such as advertising spend, media placement, and creative messaging, whereas share building requires a more holistic approach that includes product development, pricing, distribution, and customer service.
In summary, while SOV is a useful metric for measuring the visibility of a brand’s advertising, share building is a strategic approach that focuses on increasing a brand’s overall market share by creating a unique value proposition and using various marketing tactics to build brand awareness, consideration, and loyalty among potential customers.
Share Building vs. Share of Market
Share of Market (SOM)
- Definition: The percentage of total sales in a given market that a company controls.
- Formula: SOM = (Company’s Sales / Total Market Sales) x 100
- Example: If a company generates $10 million in sales in a market with a total of $100 million in sales, the company’s SOM is 10%.
Differences between Share Building and SOM
- Share Building is the process of increasing a company’s share of the market, while SOM is the measurement of the company’s current market share.
- Share Building focuses on acquiring new customers and retaining existing ones, while SOM is calculated based on the total sales in the market.
- Share Building is a proactive approach to marketing, while SOM is a passive measurement of market performance.
- Share Building requires a company to differentiate itself from competitors and offer unique value to customers, while SOM does not require any differentiation or value proposition.
The Benefits of Share Building in Marketing
Increased Brand Visibility
How Share Building Impacts Brand Visibility
Share building in marketing refers to the process of creating and distributing valuable content that encourages customers to share it with others. This form of content marketing has a significant impact on brand visibility. By sharing valuable content, businesses can increase their online presence and reach a wider audience. The more people share the content, the more visibility the brand gains.
Strategies for Building Brand Visibility
To effectively build brand visibility through share building, businesses need to implement the right strategies. Here are some strategies that can help:
- Know Your Audience: To create content that resonates with your target audience, you need to understand their interests, pain points, and preferences. Conduct market research to gather this information and use it to inform your content creation process.
- Create Valuable Content: To encourage people to share your content, it needs to be valuable and informative. Provide solutions to common problems, offer expert advice, or share interesting insights that your audience will find useful.
- Use Social Media: Social media platforms are perfect for share building. Use them to share your content, engage with your audience, and build relationships with influencers and thought leaders in your industry.
- Leverage User-Generated Content: Encourage your customers to create and share content related to your brand. This can include reviews, testimonials, or user-generated images or videos. User-generated content is a powerful way to build brand visibility and credibility.
- Collaborate with Other Brands: Partnering with other brands can help you reach new audiences and build brand visibility. Collaborate on content creation, co-host events, or cross-promote each other’s content to expand your reach.
By implementing these strategies, businesses can effectively build brand visibility through share building in marketing.
Improved Customer Engagement
- The Role of Share Building in Customer Engagement
- The importance of customer engagement in marketing
- How share building can increase customer engagement
- Strategies for Engaging Customers
- Creating valuable and shareable content
- Types of content that are likely to be shared
- Best practices for creating shareable content
- Encouraging customer interaction
- Social media strategies for increasing engagement
- Using customer feedback to improve engagement
- Building relationships with customers
- Personalizing communication
- Providing excellent customer service
- Creating valuable and shareable content
Share building in marketing plays a crucial role in improving customer engagement. Customer engagement refers to the level of interaction and involvement that customers have with a brand. High levels of customer engagement can lead to increased loyalty, repeat business, and positive word-of-mouth marketing.
Share building can increase customer engagement by providing customers with valuable and shareable content. This can include blog posts, infographics, videos, and other types of content that are interesting and informative. By creating content that is likely to be shared, brands can increase their visibility and reach a wider audience.
In addition to creating valuable content, brands can also encourage customer interaction through social media and other channels. This can include asking for feedback, responding to customer comments, and engaging in conversations with customers. By building relationships with customers, brands can increase their loyalty and encourage them to share their positive experiences with others.
To effectively engage customers through share building, it is important to personalize communication and provide excellent customer service. This can include using customer data to tailor communication and providing timely and helpful responses to customer inquiries. By focusing on the needs and preferences of individual customers, brands can increase engagement and build stronger relationships.
Enhanced Reputation Management
- The Connection between Share Building and Reputation Management
In the fast-paced world of digital marketing, building a positive reputation is crucial for the success of any business. Share building plays a significant role in reputation management as it allows companies to create and distribute valuable content that showcases their expertise and authority in their respective industries. By sharing informative and engaging content, businesses can establish themselves as thought leaders and build trust with their target audience.
- Strategies for Managing Reputation through Share Building
To effectively manage reputation through share building, businesses should consider the following strategies:
- Identify the target audience: Understanding the target audience is crucial for creating content that resonates with them. By tailoring content to the specific needs and interests of the target audience, businesses can increase the chances of their content being shared and building a positive reputation.
- Create high-quality content: Sharing high-quality content is essential for building a positive reputation. Content should be informative, engaging, and valuable to the target audience. This can include blog posts, infographics, videos, and other types of content that provide value to the audience.
- Use social media to share content: Social media is a powerful tool for sharing content and building a positive reputation. By sharing content on social media platforms, businesses can reach a wider audience and increase engagement with their target audience.
- Engage with the audience: Engaging with the audience is essential for building a positive reputation. By responding to comments and feedback, businesses can show that they care about their audience and are willing to listen to their concerns.
- Monitor and track progress: Monitoring and tracking progress is essential for understanding the impact of share building on reputation management. By tracking metrics such as website traffic, social media engagement, and shares, businesses can measure the effectiveness of their share building efforts and make adjustments as needed.
Overall, enhanced reputation management is a key benefit of share building in marketing. By implementing effective strategies for managing reputation through share building, businesses can establish themselves as thought leaders, build trust with their target audience, and ultimately achieve long-term success in the digital marketing landscape.
The Process of Share Building in Marketing
Identifying Key Messages
Identifying key messages is a crucial step in the process of share building in marketing. Key messages are the essential points that a brand wants to communicate to its target audience. They are the foundation of a successful marketing campaign, as they help to shape the brand’s image and reputation. In this section, we will discuss the importance of key messages in share building and the techniques for identifying them.
Importance of Key Messages in Share Building
Key messages are vital in share building because they help to establish a clear and consistent brand image. They communicate the brand’s values, unique selling points, and benefits to the target audience. When a brand has a clear and consistent message, it becomes easier for customers to understand what the brand stands for and what it can offer them. This, in turn, helps to build trust and loyalty among customers.
Key messages also help to differentiate a brand from its competitors. By communicating unique selling points and benefits, a brand can stand out in a crowded marketplace. This differentiation is crucial for attracting new customers and retaining existing ones.
Techniques for Identifying Key Messages
There are several techniques that brands can use to identify their key messages. One of the most common techniques is to conduct market research. This involves gathering data on customer needs, preferences, and pain points. By understanding what customers want and need, brands can tailor their messages to resonate with their target audience.
Another technique is to analyze the brand’s unique selling points and benefits. This involves identifying what sets the brand apart from its competitors and what value it can offer to customers. By focusing on these unique selling points and benefits, brands can create a message that resonates with their target audience.
Finally, brands can also use storytelling to communicate their key messages. By telling a compelling story, brands can engage customers emotionally and create a deeper connection with their audience. This can help to build trust and loyalty among customers, as well as differentiate the brand from its competitors.
In conclusion, identifying key messages is a crucial step in the process of share building in marketing. By communicating clear and consistent messages, brands can establish a strong brand image, differentiate themselves from their competitors, and build trust and loyalty among customers. There are several techniques that brands can use to identify their key messages, including market research, analyzing unique selling points and benefits, and storytelling.
Developing a Content Strategy
In the realm of share building, developing a content strategy is a critical step towards creating and distributing valuable and relevant content that resonates with your target audience. The role of content in share building cannot be overstated, as it serves as the backbone of your online presence and helps establish your brand as a thought leader in your industry. In this section, we will delve into the importance of content in share building and discuss best practices for developing a content strategy that will set your brand apart from the competition.
- The Role of Content in Share Building
Content is the lifeblood of share building, as it allows you to connect with your audience, provide value, and build trust. By creating high-quality, engaging content that addresses the needs and interests of your target audience, you can establish your brand as a trusted source of information and build a loyal following. Additionally, content plays a crucial role in search engine optimization (SEO), as it helps improve your website’s ranking on search engine results pages and drives organic traffic to your site.
- Best Practices for Developing a Content Strategy
To develop a successful content strategy, it’s important to consider the following best practices:
- Define your target audience: Understanding your target audience is key to developing a content strategy that resonates with them. Conduct market research to identify their needs, interests, and pain points, and use this information to inform your content creation process.
- Set clear goals and objectives: Establish clear goals and objectives for your content strategy, such as increasing website traffic, generating leads, or boosting brand awareness. This will help guide your content creation process and ensure that your efforts are aligned with your overall marketing strategy.
- Create a content calendar: Develop a content calendar that outlines the topics, formats, and publishing schedule for your content. This will help you stay organized and ensure that you are consistently creating and distributing high-quality content.
- Utilize a variety of content formats: To appeal to a wider audience and keep your content fresh, utilize a variety of content formats, such as blog posts, videos, infographics, and social media updates.
- Optimize for SEO: To improve your website’s ranking on search engine results pages, optimize your content for SEO by incorporating relevant keywords, using descriptive titles and meta descriptions, and ensuring that your content is mobile-friendly and fast-loading.
- Promote your content: To maximize the reach and engagement of your content, promote it through various channels, such as social media, email marketing, and influencer partnerships.
By following these best practices, you can develop a content strategy that will help you build a loyal following, establish your brand as a thought leader, and achieve your marketing goals.
When it comes to share building in marketing, measuring success is crucial to determine the effectiveness of your strategies and tactics. By tracking the right metrics, you can gain valuable insights into how your brand is perceived by your target audience and identify areas for improvement. Here are some key metrics for measuring share building success and best practices for tracking them.
Metrics for Measuring Share Building Success
- Share of Voice (SOV): This metric measures the percentage of conversations about your brand compared to your competitors. SOV can help you understand how much buzz your brand is generating in the market and how it compares to your competitors.
- Engagement Rate: Engagement rate is a measure of how actively your audience is participating in conversations about your brand. This can include likes, comments, shares, and mentions. Tracking engagement rate can help you understand how well your content is resonating with your audience and identify opportunities to improve engagement.
- Brand Mentions: Brand mentions refer to any online conversations that mention your brand, whether positive or negative. Tracking brand mentions can help you monitor how your brand is being perceived by your audience and identify potential issues that need to be addressed.
- Conversion Rate: Conversion rate measures the percentage of website visitors who take a desired action, such as making a purchase or filling out a form. Tracking conversion rate can help you understand how effective your share building efforts are at driving revenue and improving the bottom line.
Best Practices for Measuring Success
- Set Clear Goals: Before you start tracking metrics, it’s important to have a clear understanding of what you want to achieve with your share building efforts. This could include increasing brand awareness, generating leads, or driving sales. Having clear goals will help you focus on the metrics that matter most to your business.
- Track Multiple Metrics: Relying solely on one metric to measure success can be misleading. It’s important to track multiple metrics to get a holistic view of your share building efforts. For example, while a high engagement rate may be a good sign, it’s also important to consider the quality of engagement and whether it’s leading to meaningful conversions.
- Monitor Trends Over Time: Tracking metrics over time can help you identify trends and make data-driven decisions. Look for patterns in your data and use them to inform your share building strategies and tactics.
- Compare Against Competitors: Comparing your metrics against your competitors can provide valuable insights into how your brand is perceived in the market. Use this information to identify areas where you can improve and differentiate your brand from competitors.
By tracking the right metrics and following best practices for measuring success, you can gain valuable insights into the effectiveness of your share building efforts and make data-driven decisions to improve your marketing strategy.
Implementing Share Building Strategies
Choosing the Right Channels
Selecting the Most Effective Channels for Share Building
Share building is an essential aspect of digital marketing, and selecting the right channels is the first step in creating a successful share building strategy. To choose the most effective channels for share building, marketers should consider several factors, including audience demographics, platform features, and content format.
Factors to Consider when Choosing Channels
When choosing channels for share building, marketers should consider the following factors:
The first factor to consider when choosing channels for share building is the audience demographics of each platform. Marketers should consider the age, gender, interests, and online behavior of their target audience to determine which channels are most likely to reach them. For example, if the target audience is primarily composed of young adults, then platforms such as Instagram and TikTok may be more effective than LinkedIn or Facebook.
Another factor to consider when choosing channels for share building is the platform features. Different platforms offer different features, such as hashtags, @mentions, and video content, which can help marketers increase the visibility of their content. Marketers should consider which features are most relevant to their content and their share building goals and choose platforms that offer those features.
Finally, marketers should consider the content format when choosing channels for share building. Different platforms are better suited for different types of content. For example, Instagram is ideal for visual content such as images and videos, while LinkedIn is better suited for professional content such as articles and blog posts. Marketers should choose platforms that are best suited for the type of content they want to share.
By considering these factors, marketers can choose the most effective channels for share building and create a successful share building strategy that will help them reach their target audience and achieve their marketing goals.
Building Share Building Campaigns
Creating Share Building Campaigns that Deliver Results
Creating a successful share building campaign requires careful planning and execution. To ensure that your campaign delivers results, it’s important to follow these best practices:
- Define your goals: What do you want to achieve with your share building campaign? Is it to increase brand awareness, generate leads, or drive sales? Defining your goals will help you create a targeted and effective campaign.
- Identify your target audience: Who are you trying to reach with your campaign? Understanding your target audience is crucial to creating a campaign that resonates with them. Consider their demographics, interests, and behaviors to create a detailed buyer persona.
- Choose the right content format: What type of content will you use to engage your audience? Will it be a video, blog post, infographic, or social media post? Choosing the right content format is essential to capturing your audience’s attention and encouraging them to share your content.
- Use social proof: Social proof is a powerful motivator for people to share content. Use testimonials, reviews, and case studies to showcase the success of your brand and build credibility.
- Optimize for sharing: Make it easy for your audience to share your content by including share buttons on your website and social media posts. Consider using social media advertising to reach a wider audience and encourage sharing.
- Measure your results: Track your campaign’s performance using metrics such as engagement, shares, and conversions. Use this data to optimize your campaign and improve future share building efforts.
Best Practices for Building Share Building Campaigns
To build a successful share building campaign, consider the following best practices:
- Be authentic: Share building campaigns that are authentic and genuine are more likely to resonate with your audience. Use storytelling to create an emotional connection with your audience and encourage them to share your content.
- Create valuable content: Your content should provide value to your audience. Whether it’s entertaining, informative, or educational, your content should be worth sharing.
- Use visuals: Visuals such as images and videos can increase engagement and encourage sharing. Use high-quality visuals that are relevant to your content to capture your audience’s attention.
- Promote your campaign: Use your website, social media, and email marketing to promote your share building campaign. Consider using paid advertising to reach a wider audience.
- Leverage influencers: Partnering with influencers can help you reach a wider audience and build credibility. Identify influencers in your industry who align with your brand values and can help promote your content.
- Encourage user-generated content: Encourage your audience to create and share their own content related to your brand. User-generated content can help build a community around your brand and increase engagement.
Share building is a crucial aspect of marketing that can help businesses grow their customer base and increase brand awareness. However, implementing share building strategies is not without its challenges. In this section, we will explore some of the common challenges that businesses face when building shares and provide strategies for overcoming them.
Common Challenges in Share Building
- Limited Budget: One of the biggest challenges in share building is having a limited budget. Without sufficient funds, businesses may struggle to implement effective share building strategies.
- Lack of Time: Another challenge is a lack of time. Businesses may not have the resources to dedicate to share building, making it difficult to create content and engage with customers.
- Difficulty in Measuring Success: Measuring the success of share building efforts can be challenging. Businesses may struggle to determine which strategies are working and which are not.
Strategies for Overcoming Challenges
- Prioritize Share Building Efforts: To overcome a limited budget, businesses should prioritize their share building efforts. Identify the most effective strategies and allocate resources accordingly.
- Utilize Free Tools: There are many free tools available that can help businesses build shares without breaking the bank. Utilize social media management tools like Hootsuite or Buffer to schedule posts and engage with customers.
- Outsource Share Building Efforts: If a lack of time is a challenge, consider outsourcing share building efforts to a marketing agency or freelancer. This can help businesses get the support they need without dedicating internal resources.
- Establish Metrics for Success: To overcome difficulty in measuring success, establish metrics for success upfront. This can include website traffic, social media engagement, and other key performance indicators. By tracking these metrics, businesses can determine which strategies are working and adjust their approach accordingly.
Overall, share building is an essential aspect of marketing that can help businesses grow their customer base and increase brand awareness. However, it is not without its challenges. By prioritizing efforts, utilizing free tools, outsourcing when necessary, and establishing metrics for success, businesses can overcome these challenges and implement effective share building strategies.
Continuously Improving Share Building Efforts
Importance of Continuous Improvement in Share Building
Continuous improvement is crucial in share building because it allows businesses to adapt to changing consumer preferences and market trends. By constantly evaluating and refining share building strategies, businesses can ensure that their content remains relevant and engaging to their target audience. This approach also helps businesses stay ahead of the competition and maintain a strong online presence.
Best Practices for Continuously Improving Share Building Efforts
- Regularly monitor and analyze share building metrics: Tracking key performance indicators (KPIs) such as engagement rates, reach, and shares can provide valuable insights into what is working and what needs improvement.
- Solicit feedback from customers and followers: Engaging with your audience and seeking their feedback can help you understand their preferences and tailor your content accordingly.
- Stay up-to-date with industry trends and best practices: Continuously educate yourself on the latest marketing trends and best practices to ensure that your share building efforts remain effective and innovative.
- Test and experiment with new strategies: Don’t be afraid to try new tactics and approaches to see what resonates with your audience. This can involve experimenting with different content formats, posting times, or platforms.
- Learn from competitors and industry leaders: Study the share building strategies of your competitors and industry leaders to identify what works and what doesn’t. This can provide valuable inspiration and insights for your own efforts.
- Stay agile and adaptable: Be prepared to pivot your share building strategies if they are not yielding the desired results. Staying agile and adaptable is key to achieving long-term success in share building.
1. What is share building in marketing?
Share building in marketing refers to the process of increasing the number of shares that a particular piece of content receives on social media platforms. This content can be in the form of a blog post, video, infographic, or any other type of content that is shared on social media. The goal of share building is to increase the reach and visibility of the content, and ultimately drive more traffic to the website or social media profile.
2. Why is share building important in marketing?
Share building is important in marketing because it helps to increase the reach and visibility of a brand or business. When content is shared on social media, it has the potential to be seen by a much larger audience than it would have been if it was only posted on the brand’s website or social media profile. This increased visibility can lead to more traffic, more leads, and ultimately more sales for the brand or business.
3. How do you build shares in marketing?
There are several strategies that can be used to build shares in marketing. One effective strategy is to create high-quality, engaging content that is relevant to the target audience. This content can be in the form of blog posts, videos, infographics, or any other type of content that is likely to be shared on social media. Another strategy is to use social media advertising to promote the content and increase its visibility. Additionally, leveraging influencer marketing can also help in building shares.
4. What are some common mistakes to avoid when building shares in marketing?
One common mistake when building shares in marketing is to focus too much on the quantity of shares, rather than the quality of the content. It’s important to create high-quality, engaging content that is likely to be shared organically, rather than using tactics that manipulate or incentivize people to share the content. Another mistake is to not have a clear understanding of the target audience and what type of content they are likely to share.
5. How can you measure the success of share building efforts in marketing?
There are several metrics that can be used to measure the success of share building efforts in marketing. One metric is the number of shares that a particular piece of content receives on social media. Another metric is the reach of the content, which is the number of unique people who have seen the content. Additionally, it’s important to track the traffic that is driven to the website from social media, as this can provide insight into how effective the share building efforts are in driving conversions.
6. Can share building be done without paid advertising?
Yes, share building can be done without paid advertising. There are several strategies that can be used to build shares organically, such as creating high-quality, engaging content and leveraging influencer marketing. Additionally, it’s important to have a strong social media presence and engage with the audience on a regular basis to increase the chances of them sharing the content.
7. How long does it take to see results from share building efforts in marketing?
The amount of time it takes to see results from share building efforts in marketing can vary depending on several factors, such as the quality of the content, the target audience, and the overall marketing strategy. However, it’s important to be patient and consistent with share building efforts, as it can take time to build momentum and increase visibility.