How to Calculate Share of Search
The share of search is an important metric used by businesses and marketers to gauge the popularity and success of their brand or product in the online space. This metric provides valuable insights into consumer behavior and preferences, enabling organizations to optimize their marketing strategies and make better data-driven decisions. In this article, we will walk you through a step-by-step process of calculating share of search for your brand or product.
Step 1: Identify Your Target Keywords
First, brainstorm a list of keywords that are relevant to your business or product. This may include common industry terms, brand-specific phrases, and variations of primary keywords. Be sure to consider both short-tail and long-tail keywords for a comprehensive keyword strategy.
Step 2: Assess Your Competitors
Identify your key competitors within your industry who are targeting the same audience as you. Analyze their websites, social media presence, content strategies, and other marketing activities to better understand how they position themselves in the market.
Step 3: Gather Search Volume Data
Next, use a keyword research tool like Google Ads Keyword Planner, Moz Pro, or SEMRush to gather search volume data for your target keywords. This will provide information on how many times your selected keywords were searched for during a specific time frame (e.g., monthly).
Step 4: Calculate Your Share of Search
To calculate your share of search, first determine the total search volume for each keyword across all competitors (including yourself). Then, find the search volume specifically for your brand or product. Divide your brand’s search volume by the total search volume for that keyword, then multiply the result by 100 to get the percentage share.
For example:
Total Search Volume (All competitors) = 10,000
Your Brand’s Search Volume = 3,000
Share of Search = (3,000 / 10,000) x 100 = 30%
Step 5: Analyze Your Results
Analyze your results to identify trends and areas of improvement. If your share of search is high, this may indicate that your brand or product is well recognized within the industry. Conversely, a low share of search may suggest that you need to improve your visibility and brand awareness.
Step 6: Implement Strategies to Improve Your Share of Search
The ultimate goal of calculating share of search is to identify opportunities for improvement and optimize your marketing strategy. Implementing a strong SEO strategy, creating high-quality content, improving your website’s user experience, and leveraging paid advertising campaigns can all contribute to increased share of search.
Conclusion
Calculating share of search is an invaluable process that allows businesses to better understand their position within a competitive landscape. By identifying target keywords, assessing the competition, gathering search volume data, and analyzing results, you can make informed decisions about where to focus marketing resources and fine-tune strategies for ongoing success.