Share of Search: What it is and how it replaces Share of Voice

Share of Search: What it is and how it replaces Share of Voice

Share of search is the participation in searches that a brand has in the market in which it operates and is directly related to its market share . This is shown by a study by Les Binet

that we have given a lot of thought to here Conversion, especially in the last 4 years, about how searches affect business (from small to large); Since then we have started using Share of Search in our projects and suggested some original ways to increase brand search .

Lately, interest in Share of Search within the Community has grown due to articles by James Swift at Contagious and Mark Ritson at MarketingWeek in particular an important industry event based on a study that Les Binet presented at EffWorks Global on October 14, 2020.

In addition, the use of Share of Search can increasingly be related to high performance in organic search as we introduced our new concept called SEO Experience ] the new generation of website optimization, that revolutionizes search engine optimization.

More and more we see that brand strength and user experience converge in marketing strategies worldwide as well as o All other channels also have their place in this equation – direct, organic and paid search, social etc. .

The result of all of this is revealed through searches, which in turn reveal the intent of the user.

In order for brands to grow, they have to be in greater demand. Indeed, this is what our new tagline advocates: Make your brand more sought after; Give it a conversion .

Finally, at the end of our article, we provide a table and step-by-step guide on how to calculate your brand’s search percentage.

Come on

Start by understanding what Share of Voice (SoV) is.

If you’ve been in the advertising market for a few decades, you’ve heard of Share of Voice (SOV) – or Slice of Voice

If you are new to the field, SOV is a performance metric that relates to the percentage of active voice a brand represents within the market in its category.

In other words, your share of the voice represents the space your brand occupies within the niche in which it operates.

This metric was very important in evaluating the market share (or market share) of a brand over years and calculating it is quite

To find out what the SOV of a brand is, simply divide two variables one of which is your investment in advertising for a certain period of time and the other is the total investment of all competitors together, ie the entire market.

For example, if our brand Y invested R $ 2 million in advertising last year. While all competitors invested R $ 15 million together, the SoV of brand Y in this period is 13%.

SoV = brand investment / competitors investment x 100

Share of Voice and Peckham’s formula characterized a generation of advertisers

As I said, this metric is closely related to the market share (1945) of a brand . And that discovery was made by an AC Nielsen publicist named James Peckham.

The discovery was so fruitful that in the late 1940s and after nearly 20 years of case studies, Peckham developed a formula based on these two metrics, the aim of which was to determine the value of a brand’s advertising budget based on market share, that this brand wanted to achieve.

The Peckham formula as it became known, intended for advertising spending, could achieve its goal if the voting share of one brand was 1.5 times the value of the market share that this brand had for the next would like to receive two years.

To make it clearer, let’s take another example: [19659003] Imagine that our brand Y in the children’s clothing category wants to achieve a market share of 3% within two years. Last year, all competitors together spent a total of R $ 50 million on advertising.

In this case SOV = (50 million R $ x 3%) x 1.5.

The total advertising investment that brand Y should make in order to achieve a market share of 3% in two years is R $ 2,250 million .

The relationship between SOV and MS was extensively investigated in the following years in the field of advertising as the subject of study and the starting point for several offline performance evaluations.

But everything changed when another publicist, this time an Englishman by the name of Les Binet, now head of the effectiveness group at Adam & eveDDB, London, faced a dilemma: It was necessary to create a metric that was the proportion of the voice resembles and adapts to the requirements and characteristics of the digital age.

In other words, the calculation of the SOV and the way it has been used for years to also set advertising budgets. It did not fit into current business models in which advertising expenditure was mainly distributed in formats distributed online.

After a few years of immersion, Les Binet introduced us to the voice of the digital age. or Part of the search .

The era in which & # 39; Share of Search & # 39; & # 39; Share of the vote & # 39; replaced, has just started.

The percentage of searches (SoS) of a brand or its percentage of search queries relates to the total number of searches for this brand on Google, “ the largest database of human intentions in the world “.

Understanding Les Binet’s influence found that Google searches for a brand as opposed to social media behavior are a real indicator of brand growth.

In other words, after six years of testing, Binet found that SoV could predict exactly that a brand’s market share was SoS too – and in the same proportion!

The search percentage is a predictive metric of market share, according to a study by Binet.

Les Binet presented his study on the proportion of search on October 14th, at EffWorks Global 2020, an event organized annually by the Institute of Practitioners in Advertising (IPA) a British institution known as Spokesman for British advertising agencies acts, is carried out.

Named Share of Search as a predictive measure (or search participation as a predictive metric), Binet’s rich presentation provides us with data on three categories of consumption: mobile telephony automobiles and domestic Gas and energy (raw materials).

The SoS calculation, like the SoV calculation, is quite simple and also refers to the division of two variables: the number of searches for a certain brand by the number of total searches for all brands in the category.

So:

SoS = search for a brand / search for all brands in the category x 100

In all categories examined by Binet as well as the language share, the search share is closely related to the market share of all brands that represent the three sectors.

LG Brand Comparison Chart, Mobile Phone

In the graph above, LG’s market share is approximately six months ahead of SoS.

As pointed out by Les Binet, it is important to know that there is a gap between SoS and SoM that is more important than the proportion of the search itself metric, called the eSoS – or Additional proportion of the search the contributes significantly to the forecast of growth.

For example: If one finds that Brand Y had an SOS of 15% in a certain period and at a 10% SOUND adding the variables of each category, it is possible to know that a 5% ESOS dies means a growth of x% per year.

By accessing this data, a brand can predict its growth with great precision. Here’s one of the biggest advantages of this metric: all the data needed to calculate the data A brand’s SOS is completely free!

These figures are available free of charge from the Google Trends tool, the data of which is retroactive to 2004.

(We recommend using more accurate data for better decision-making.)

Long-term prognoses

Les Binet identifies SoS as a fast, inexpensive metric that measures the effects of advertising in both the short and long term can be measured .

For sectors whose products are high in cost and the viewing time of a consumer is high, such as in the automotive field. The search part is still a safe alternative.

Each point is shown in tenths (10%).

The graph above shows what changes are predicted by the search that would affect the market share of the automotive sector from 9 to 12 months.

In the telephony sector, the observation period of which is relatively short, the prognoses were about 6 months; While in the energy sector, which falls into a category of basic needs and brief reflections, the forecasts were less than three months.

To prove the accuracy that SOS can achieve, Binet brought a graph with growth data on Volkswagen’s market share from 2002 to 2014.

While the red line represents the brand’s real market share growth, the blue dotted line represents what was predicted by the proportion of search.

The difference between the two is incredibly small.

According to Binet, the SOS forecast was further compared with the forecast of other methods, such as comparison of annual growth and constant annual growth and resulted in an advantage over all.

The 10 Discoveries of Les Binet

In testing the fraction of the search that examines the three categories above, Binet made a summary of 10 significant discoveries according to LBB ]: [19659060] The fraction of the search is related to the market share in all three categories.

  • The proportion of search is a leading indicator / predictor of market share – when the proportion of search increases, the market share tends to increase and when the proportion of search decreases, the proportion of the market decreases. The difference between them, Extra Share of Search (ESOS), is a particularly solid indicator of market share movement.
  • The waiting time until Share of Search becomes market share can be considerable and leads to a long-term forecast, as it was up to a year for the automotive industry.
  • This long-term forecast can also serve as an early warning system for brands of their market share (e.g. Volkswagen).
  • However, participation in the research is not a perfect indicator as conversion is obviously influenced by other factors, mainly price . Likewise, not all research activities are positive.
  • Share of Voice (advertising) has two effects on Share of Search: a large short-term effect that disappears quickly and a smaller long-term effect that slowly decreases.
  • However, the long-term effects accumulate over time.
  • Sustainable advertising drives the growth of the search share, with 60% of search queries being due to long-term effects and 40% to short-term effects
  • Every brand has a balance: if the voice share falls below the balance, the search share falls tends to decrease over the next two years. If the voice portion is above balance, the search portion will tend to increase over the next two years.
  • The percentage of search can also be a new measure of brand strength / health and measure the basic level of search query sharing without advertising.

In order for you to understand this concept better, there is nothing better than to see its practical application.

For this we provide our table for calculating the search share.

In the following graph, we have the share of the search for tennis in Brazil in 2020. Warning: It is not the sporting goods market.

Click here to access the google spreadsheet and site your copy. To do this, you need a Google / Drive account (available from many companies or via Gmail). Then just go to the menu File > Make a copy .

Define your market

In the example shown above, we calculate the market from 10 players. In order to compare your brand’s market share more precisely, we recommend that you include all market participants.

Comparing a smaller number of players (brands) to get useful daily samples and less complex analysis) in each sector can be easier.

Here is your option to start with the 10 brands you want to analyze or do some research to determine which are the top 10 brands. The second option is usually better for most applications.

In addition to the brand, you can include (or exclude) a category.

Define your data sample

There are different ways of calculating your data and the sample used essentially determines the results.

In our analysis we used the SEMRush data available under Keyword Overview in particular the total volume available in the image below.

If you have a (paid) account with SEMRush, access it at Link . If not, you can more easily get this data through Google Trends, as mentioned by Les Binet.

Google Trends can be the best tool every day and faster because it is simple and updated in real time.

In our analysis, however, there is an average difference of 8.41% in the proportion of search compared to data from SEMRush.

that neither option is right or wrong, just different methods of getting data.

Note, however, that the trend in both tools is very tight and can be sufficient for most common analyzes. [19659089] How to get data from Google Trends

Google Trends has a query limit of 5 terms and unlike other keyword tools not the volume itself, but a relative number that ranges from 0 to 100, where 10 0 is the largest search volume of a comparison.

Therefore, you need to define the most frequently searched term as a beacon and search for the exact terms under the other four search fields.

Note that in the following example we parse it with the sneaker snippet, but only Nike, Asics, Olympikus etc. could be there.

To get the trend data, do the following:

  • Use ] Brazil Region on Google Trends ;
  • Insert an anchor term in the first position (must be the most frequently searched for);
  • Select the analysis period.
  • Please enter the terms you want to compare;
  • These other terms can be substituted until you reach the sample you want.
  • Tabulate this data in a table.

One tip is to use a fixed analysis URL every day. Get the monthly forecast from Google Trends every day. In this case, keep the period “since 2004” to display monthly data.

Enter the dates in the table and voilá !

Conclusion

Recently we decided to only offer services SEO because the market is becoming increasingly vertical in terms of competencies such as SEO, paid media, user interface etc.

Although we have already used Share of Search, Ritson, Swift’s article, and Binet’s findings led the use of search data to another level.

In the coming years the trend will be that the use of Share of Search will completely replace Share of Voice.

As we have seen, the great advantage of Share of Search is that it is faster, cheaper, and more reliable because it is closer to the bottom of the funnel and, in turn, is more related to purchase intent.

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