Share-of-Voice is a marketing metric that defines your brand’s visibility versus the competition. On search engines of Google, Bing, Opera, etc., SOV defines the share of your brand’s appearance versus the competition based on keywords. Measuring SOV on a search engine is critical to know your presence on the web and the form of content you are visible on such eCommerce Platforms, Blogs, News, Brand Websites etc.
Analyzing SOV is also important for brands as it gives a complete picture of their awareness on the brand, competitor and organic keywords. Brands with higher visibility percentage have a higher chance of boosting their conversions/sales/purchases and giving impression as a market leader.
According to Statista, desktop search traffic originating from Google ranges between 8.78% to 94.15% across countries, with the highest results from India. The likelihood that consumers would go to an ecommerce platform using the top three page results is higher than the pages preceding them. It means that brands have a higher chance of driving traffic from the Google search engine to their product listing on a platform the more times they appear on the top three page results.
Why Does SOV Matter for Your Brand?
Measuring the SOV of keywords helps to answer the following questions:
- Which is the best performing type of content? How much market share does it acquire?
- What is your market positioning? What is the keyword-based ranking of your brand?
- What is the share of your paid search keywords? Who has the highest market share?
- Which ecommerce platform has the highest SOV and for which keywords?
- How likely will consumers come across your brand? What is your brand awareness?
- What types of search results do consumers get on your selected keywords?
- What type of other results appear on your chosen keywords? What is their SOV? \
Without measuring the SOV, deciphering such results could become impossible on Google, which is one of the most dominant sources of finding the most relevant results. In the U.S., 61.4% of core search queries were generated through Google in January 2022. According to Google, personalized results are generated using an algorithm that relies on commonly used words, expertise sources, location, setting, and other factors to deliver the best results.
Appearing as the most viable search results active on Google becomes a priority as it is directly connected with traffic generation, conversion, revenue, etc. Here is an example of mobile SOV for one of our brands:
Tracking the share of voice on Google paid searches helped one of our clients take measures to boost their brand website share from 25% to 28% from January to December. The brand’s share of ecommerce marketplaces diminished from 51% to 47%. So, the visibility of the brand’s search results for the ecommerce marketplace also diminished, and marketers should assess the reasons for the change.
In short, the advantages of measuring Share of Voice on search engines are as follows:
Brand Awareness: Analyzing SOV through mScanIt defines the proportion of your brand’s awareness on organic, paid, and competitor keywords. The higher your SOV, the higher the chance of reaching out to potential customers through the search engine by redirecting them to your website or an ecommerce product listing.
Visibility: SOV also defines the proportion of your brand visibility versus the competition. Brands with the highest visibility would captivate more attention and have historically witnessed a higher click-through rate (CTR) & conversion rate.
Search Rank: The user often goes through the top twenty or top three-page results before making a buying decision. Higher search rank is directly proportional to higher ranking during recurring intervals. Thus, acquiring a higher market share and revenue.
Most Dominant Form of Content: Analyzing SOV also gives a picture of the most dominant content results on the search engine, and such content forms would likely have the highest traffic. Moreover, brands can find paid keywords with the highest and lowest SOV, and marketers can use them to build strategies across channels.
Pro Tip: “Search engine analytics reveals information pertaining to your brand’s webpage performance. However, mScanIt defines the presence of your brand and the competition across the web on the keywords or key phrases commonly used for searches.
Users today still make buying decisions or deviating to an eCommerce platform through search engines. Therefore, tracking your visibility/brand awareness on search engines keeps you abreast of your consumer interactions.”
Conclusion
Share of Voice is an important factor for measuring a brand’s awareness, visibility, search rank, etc., on the search engines. mScanIt, powered by mFilterIt, measures the SOV of global leaders, giving them an overview of their likely market share.
Analyzing SOV through mScanIt also helps to deep-dive into consumer behavior, showcases the presence of the competition, makes the brands aware of new trends, and more. The paid and organic results enable brands to find areas of improvement, the most visible types of content, the percentage-wise share of each form of content, and more.
Schedule a demo with us to learn more about the advantages of eCom Competitive Analytics for your brand.
