The amount of conversation a brand owns with the target consumers in comparison to the competitors is referred to as Share of Voice. It is the share of exposure that the brand gets to the target audience in overall media. This is an important tool to gauge the strategy to create brand awareness and increase brand equity.
It is calculated in comparison to the industry, competitors or multiple categories.
For example, if Company A has a total of 1000 ad exposures and a competitor has 2000 ad exposures while the industry they operate in has a total of 4000 ad exposures, then the Share of Voice of Company A is 50% against the competitor and 25% against the industry.