Google is the new TV
Higher share of search makes brands successful
Marketing
Higher share of search makes brands successful
Share of search equals share of market. Google search shows what people do, instead of what they say they do. Small businesses can use search engine to grow their market share.
Earlier brands relied on share of voice (SOV) to plan the advertising budget for a share of market (SOM). Brand’s initial share of voice should be 1.5 times the market share, it wants to achieve by the end of 2nd year. Share of voice is about paid promotion. As per new research by James Hankin Google search can also provide the similar insights as that of SOV. It can tell that branded searches are a proxy for spending with the brands. People search in proportion to they shop.
As per marketing expert Marc Ritson: The final major piece in the SOV/SOM puzzle came from Peter Field and Les Binet. The duo might now be famous for The Long and Short of It, but over a decade ago their work was also instrumental in showing an equilibrium between a brand’s share of voice and its share of market.
Small business should use their websites and creative content to generate searches for their products and services. It will require them to invest in a website, impactful copy, content marketing initiatives, technical and local search engine optimization (SEO) techniques, authority building and credibility.
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