Share of Search, a metric that is fast, cheap and correlates with market share

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Share of Search, a metric that is fast, cheap and correlates with market share

Until today measuring brand investments and strength was only possible with opinion polls or social media listening. The first is very costly, hard to scale up, and social listening is too dependent on the few that actually make their voices heard and lastly none of them had correlations to Bottom line.

 

Share of Search - the art of using search data to track brand investments, health and strength.

 In this guide you will learn:

  1. why you should use Share of Search,

  2. how to think when setting up a brand investment, brand health and strength tracker

  3. how to analyze the results when doing a diagnostic and/or a tracker exercise.

 

1. Why Share of Search:

What is the first thing you do when you are interested in something? You search for it! Right?

So Share of Search is the way to measure how much interest brand X is creating vs brand Y based on the billions of searches we all make every day.

Correlation FMCG brand and Share of Search

Correlation FMCG brand and Share of Search

2. How to do a brand health tracker using Share of Search and My Telescope:

The most difficult thing to do is understand how strong you are. Why? Well, who are you comparing with, direct competitors, peoples’ time etc.

  1. who am I competing against?

  2. refine your search, make sure you are analyzing the correct underlying data. I.e make sure it’s the brand Apple and not the fruit. This can be done by using our tool “Refine your sentiment data” to choose the correct comparison

  3. generate your Brand health dashboard

1) Who am I competing against?

1) Who am I competing against?

2) Refine your search

2) Refine your search

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 3) How to analyze the reports

  • look at your Share of Search. You should have a stable or upgoing trend.

  • attitude: How do people perceive your brand? Positive, negative or neutral?

  • business drivers. Which of the 4 Ps are driving your brand?

  • key attributes. Are you known for what you want to be known?

 

If you want to know more read here :

 

Or sign up and create your own brand health tracker dashboard. For free, just to see for yourself.






Rodrigo Pozo Graviz