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Understanding the relationship between SOV and market share
Visualizing sub-category data to show how growth in share of voice leads to growth in market share.
Business Overview
The brand in this showcase is the #4 selling lighting fixture brand on Amazon. Their products are typically top-sellers in brick & mortar retailers, but struggled to identify why the same success was eluding the brand online.
The Request
As the #4 brand in the sub-category on Amazon, growing the business required some initial investments in advertising to gain long-term relevancy. The brand's Amazon team asked me to help them understand how an increase in Traffic equates to market share growth.
The Deliverable
To visualize the relationship between share of voice and market share in the sub-category, I used a linear regression between year-over-year growth within the last 52 weeks for each brand in each metric:
The sub-category traffic & sales data shows a strong positive correlation between share of voice & market share gained. Top competitors, for example, invested over three times (3x) more than the brand in advertising - driving more Paid Traffic, and in turn, more overall sales to the competitors' products. The brand was able to acquire an incremental +100% increase in budget for the remainder of the year.
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