Share of Search Best Practices
Share of Search (SoS) is an essential metric for understanding brand strength in the digital world. By analyzing search trends, businesses can gain insights into brand awareness, competitor movements, and long-term market shifts. While setting up a Share of Search report at Branquo.com is easy, there are a few things to consider to get the most out of your reports. Here are the best practices to ensure accurate and meaningful results:
1. Include as Many Competitors as Possible
Share of Search is defined as one brand's share of brand searches compared to the total market. For an accurate representation of the market, it's therefore crucial to include all relevant competitors in your Share of Search report. Limiting your analysis to only a few brands can create a skewed perspective, as missing competitors may have a significant impact on the industry’s search landscape. Aim to cover the entire market to ensure a comprehensive view of brand performance, even if you're a small brand - don't fool yourself by just comparing with other small players.
2. Add Variants to Brand Names
Search behavior varies widely, and consumers may use different brand name variations when searching online. For instance, someone looking for Coca-Cola might type "Coca-Cola," "Coke," or even just "Cola." To ensure accurate data collection, include all possible name variations and common misspellings associated with each brand. This is especially important with brands that have nicknames, abbreviations or that might be difficult to spell correctly.
3. Set the Start Date as Far Back as Possible
To uncover long-term trends and seasonal fluctuations, always set your data collection start date as far back as possible. The more historical data you have, the better insights you’ll gain into patterns, brand growth, and recurring trends. This long-term perspective is essential for making informed strategic decisions.
If you need to analyze just the past few months, you can of course do that, but we suggest doing it in the context of the entire data set.
4. Analyze Both Search Volume and Share of Search
While Share of Search is a valuable indicator of brand performance, it’s equally important to analyze absolute search volumes. A brand’s Share of Search might increase, but if overall search volume is declining, that could indicate a shrinking market rather than brand growth. Platforms like Branquo.com provide both SoS and search volume insights, making it easier to get a complete picture.
5. Use Moving Average Only If Necessary
Moving averages can help smooth out volatility in search data, but they should only be used if the raw data is too unstable. Overuse of moving averages can obscure critical insights, such as sudden spikes or dips in interest caused by marketing campaigns, PR events, or industry shifts. Use this tool cautiously to ensure you're not missing valuable trends.
Final Thoughts
Setting up a Share of Search report correctly is key to gaining actionable insights from search data. By including all competitors, accounting for brand name variations, leveraging historical data, and balancing raw and smoothed data views, you can build a report that truly reflects market dynamics. With these best practices in place, your Share of Search analysis will provide meaningful and strategic insights for your brand.
