Share of Search (SoS): A Key Indicator of Marketing Impact

Share of Search SoSSoS is a predictive proxy for Share of Market SoM that can help you measure the impact of your marketing investments By aligning business objectives with marketing KPIs you can make more informed decisions and drive topline performanceA Case study in the outdoor clothing categoryKey Benefits of SoSPredictive Power SoS accurately forecasts Share of MarketGranular Insights Track performance at the brand and product levelActionable Data Guide your marketing strategy and tacticsHow Does SoS WorkSoS is calculated by dividing the total searches for your brand by the total searches for all brands in your category By analyzing this data you can identify correlations between your marketing efforts Share of Voice and market performance Share of SearchMethodKeyword Selection All brandrelated keywords were identified for each individual brandData Collection Monthly search volumes were gathered from MyTelescope for each brand along with corresponding media spend data from Kantar SifoData Normalization Search volumes and media spend were standardized to create Share of Search and Share of Voice metrics for each brand per monthCorrelation Analysis Pearson39s correlation coefficient and Pvalues were calculated to assess the relationship between Share of Voice and Share of Search for each brandDataSearch Volumes Monthly search volume data was obtained from Google not Google TrendsMedia Spend Monthly media spend data was acquired from Kantar SifoThe outdoor brands were selected by the leading media channel for retail in Sweden Market and was the main source for an article In SwedishOutcomeIn this validation study we found an average 95 correlation between a brands brands Share of Voice and Share of Searches in the outdoor fashion categoryamp160amp160quotI39m not surprised as we are a strong brand With 36 stores nationwide a significant media presence and an even higher profile over the past year due to various factors our visibility is substantialquot said Sofie Saberski Marketing Manager at Naturkompanietamp8203amp160quotI39m a bit surprised by the results I must admit I think one explanation is that we39re still advertising in print media And then we know that a large percentage of our customers come to us through word of mouth which leads to an increase in searchesquot said Stefan Engelson CEO of Engelsonsamp160amp8203amp160Revolution Race has hardly done any traditional marketing in the past twelve months which has led to low demand on Google Now all of a sudden they invested twelve million kronor in October including program sponsorship which has led to a doubling of their search shareBy understanding and leveraging the relationship between search share and market share marketers can make datadriven decisions to improve brand visibility increase market share and drive business growthThe core message of the statement is clear there39s a strong correlation between a brand39s search share and its market shareamp160This means that brands with a higher percentage of searches related to their products or services are more likely to have a larger market sharePosted at MediaVillage through the Thought Leadership selfpublishing platformClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillageorgMyersBizNet

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Share of Search (SoS): A Key Indicator of Marketing Impact

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Rodrigo Pozo Graviz

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Share of Search (SoS): A Key Indicator of Marketing Impact

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Rodrigo Pozo Graviz

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