What is SearchShare?
SearchShare tracks brand Share of Search. It transforms Google search volume data into a powerful indicator of your brand’s market share. You can use it to track how advertising activity affects your brand searches in your category. And with precise market share forecasting, you can make more strategic business decisions.
This powerful new metric has many advantages over more traditional market share research tools. Marketers can clearly define the relationship between search, sales, and advertising for effective long-term campaigns.
Benefits include the ability to:
- Measure brand impact across on and offline activity
- Attribute value to marketing campaigns accurately
- Access campaign effectiveness for long-term brand building
Critically, SearchShare gives you incredibly valuable insight into consumer intent. And it works across different brands, categories, locations, and languages. This means you can make informed decisions ahead of market share changes to optimise your media mix. You can act quickly to address any negative contributing factors.
How do you calculate Share of Search?
Share of Search is calculated by using a simple equation:
Searches for brand X are divided by Searches for all the brands in the competitor set. The correlation is dynamic, so when Share of Search changes so does market share. It allows you to have that insight.
You can create a competitor set for your brand. As you validate against market share for that competitor set, you will mostly see a positive correlation between the two.
For marketers, this kind of precise marketing is gold dust. Share of Search allows you to track advertising and sales with practical applications to drive business. You can track how changes in advertising convert into changes in brand consideration. Plus you can measure Share of Search at the top of the funnel.
How does SearchShare work?
You can access Search data via Google’s keyword data API across a period of 12 months for a rolling average. And you can aggregate against monthly search data for competitor brands. Or against the generic category terms.
You can generate relevant reports quickly and easily in SearchShare. Filter by the brand names you want, competitor brands, and geographic locations. Your comparison report will give you the insights you need to create a strategic approach. With key data, you can make informed decisions, to support your direction with your team, agency, or clients.
Want to learn more? Sign up for SearchShare today!