Why Share of Search is the Key to Measuring Brand Development
Branding is one of the most important aspects of any business. A strong brand can help you attract new customers, build loyalty with existing customers, and command a premium price for your products or services.
But how do you measure the effectiveness of your branding efforts?
One of the most important metrics for measuring brand development is share of search. Share of search measures the number of searches for your brand relative to the number of searches for all brands in your category. It is a powerful predictor of sales and future market share, with an average correlation of 83%.
This means that if you want to know how your brand is developing, you need to track how often people are searching for it.
There are a number of different ways to track share of search. Y
You can use MyTelescope, Google Trends, or other search analytics tools.
Once you have tracked your share of search over time, you can start to see how your branding efforts are paying off. If your share of search is increasing, it means that more people are aware of your brand and are considering buying from you. This is a good sign that your branding efforts are working.
However, if your share of search is decreasing, it means that people are becoming less aware of your brand or are choosing to buy from your competitors. This is a sign that you need to make some changes to your branding strategy.
So, why is share of search so important?
There are a few reasons why share of search is such an important metric for measuring brand development. First, it is a direct measure of how often people are searching for your brand. This means that it is a good indicator of brand awareness and brand consideration.
Second, share of search is a leading indicator of sales and future market share. This means that if you see your share of search increasing, it is a good sign that you will see an increase in sales and market share in the future.
Third, share of search is a universal metric. This means that it can be used to compare your brand to your competitors, regardless of the size or industry of your business.
If you are serious about building a strong brand, then you need to start tracking share of search today. It is the only way to get a true measure of your brand's performance and make sure that your branding efforts are paying off.
Here are some tips for tracking share of search:
Use a reliable tool like Google Trends or MyTelescope.
Track your share of search over time to see how it is trending.
Compare your share of search to your competitors to see how you are doing.
Use share of search data to make informed decisions about your branding strategy.
By tracking share of search data, you can get a better understanding of how your brand is performing and make sure that your branding efforts are paying off. This is essential for any business that wants to build a strong brand and achieve its business goals.
In addition to the tips above, here are some other ways to improve your share of search:
Invest in reach and branding
Invest in publicity
Run search engine optimization (SEO) campaigns.
Invest in paid advertising.
Invest in creativity
Build relationships with influencers in your industry.
By following these tips, you can improve your share of search and build a stronger brand.