Why Share of Search as a brand strength indicator - the logic behind the thinking.
If you think of brand building as a formula, the math could look as follows:
Invest in:
Create and manage Products (p1)
Communicate with the market and consumers (c)
Place: Having a good and relevant distribution, as well as how we meet our customers with everything from customer service, sales etc. (p2)
Price, how we charge, our price models, how we use pricing to build expectations etc. (p3)
Those four variables are the basic parameters you can use to create a strong brand. And here’s the formula:
p1 * c* p2*p3= your brand (the product)
If the job to build a strong brand lies in building the four basic brand parameters (product, communication, place and price), success can then be measured in how that results in a sustained interest for the brand (leading to higher margins, more sales, easier to recruit etc.)
The easiest way to measure that interest is to use “search” as a metric since search is something we all do when we want to know something – we search on the net, a fantastic proxy for interest in something.