Share of Voice (SOV) is the share of the market that your brand owns compared to your competitors. It gives you a quick overview of where you stack up, compared to your competitors in your industry. Today, the share of voice not only refers to market share but also includes everything from advertising, social media, PR, website traffic, impressions, etc. Anything that can be measured to show brand awareness in your industry, category, marketplace, and, region is your share of voice. It is the measure of how easily your brand or product can be found in the marketplace. In other words, it is a measure of the findability of your brand.
The higher your findability is compared to your competitors, essentially means the probability of you acquiring potential customers is higher than your competitors. Therefore, it is a very important metric for measuring your market presence.
What is Google Share of Voice?
The Google Search Engine Results Page or “SERP” share of voice is a dynamic measure of calculating your presence in SERP, considering its volatility across regions, devices, and time and higher coverage in various SERP pages and features. It shows how strong of a presence you have in the SERP considering keywords Search Volume.
“Finding out what features are missing and then optimizing your content for these missing SERP features is a great way to improve your share of voice on Google.”
Factors of Google Share of Voice calculation
These are important questions about how to calculate Share of voice because there are multiple factors that influence it. Things like:
- Category Order – This is the various SERP features like the Featured Snippet, Knowledge Panel, People Also Ask, etc. The order for these features changes depending on the search keywords. More than 50% of Google Searches end without a click to other contents based on a study by Search Engine Land. This means that it is even more crucial to show up on SERP features like Featured Snippet, Knowledge Panel, People Also Ask, etc. to increase visibility.
- Page Order – Page Order considers your overall position without looking at the SERP feature. i.e. if you show up on the first position of the organic search result, but the organic search result is below the five shopping ads, 2 text ads, and 3 People Also Asks then, your page order would be 11.
- Page number – This is just looking at what page you show up on the Google search. The first page of Google captures as high as 92% of search traffic clicks while the second page only gets 6% of the clicks. So, showing up on the third page (even if you have all the links on that page) does not have many benefits.
- Search Volume of the keyword – This is an important aspect because it shows you whether you are showing up on the right keywords (or the keywords that people are searching for). It is comparatively easier to improve your rankings if the search volume is lower, as it means that there is less competition for that keyword. So, the calculation should account for this and allocate the weight for the search volume of the keywords accordingly.
Optimize across SERP features in your strategic keywords.
Share of Voice has become a much more complicated metric to calculate than it used to be since Google has introduced many SERP components in its search platform over the years. Some are paid advertisement sections such as Shopping Ads, Search Ads, and Display Ads, and some are organic listings like People Also Ask, Feature Snippets, Organic Search Results, Tweets, Video, Top Stories, Knowledge Panels, etc.
Adding to these many components; the SERP is very dynamic and unpredictable. With an ever-changing algorithm, the availability and order of these SERP components vary along with your positions. Therefore, the goal should be to acquire a higher rank impression in every SERP component of your important keywords to maximize relevant visitor acquisitions. Besides, it’s equally important to get top position in each SERP component listing. This is a measure of a strong keyword share of voice on Google SERP. It is more important to strengthen the Google share of Voice for important Keywords over increasing your keyword breadth.
The graph below shows the Google SERP share of voice from 63 highly competitive keywords related to jeans apparel, with a monthly search volume of 3.5 Million, per the Google Keyword Planner tool. The data collected through SERP Monitoring Tool shows the total number of keywords a brand showed up on, what the average SERP position was for that brand, and the overall share of voice is portrayed by the size of the bubble.
Tips to improve Google SERP Share of Voice
Monitor Opportunities in New & Existing SERP Features
Tracking an emerging ad format and then optimizing your content/ads to show up for that ad format might be the fastest way to increase your chances of getting into the first page and “above the fold” on Google. For example, Google launched a new ad type – Showcase Top. As an advertiser, you should look to detect them quickly and optimize for such an ad format.
Besides, all keywords will have organic results, but other SERP components vary. This means that all keywords have different SERP features that are most popular. So, finding out what features are missing and then optimizing your content for these missing SERP features is another way to improve your share of voice on Google.
SERP Competitive Analytics: Gateway to the 1st SERP Page.
Analyzing your competitors in terms of the keyword relevancy, content relevancy, user experience, and page loading speeds to find gaps where they may have under-optimized and then occupying these gaps will help you outperform, beat your competitors and increase your share of voice on the SERP.
See in Detail: SERP Competitive Analysis in 2021
Compete with the right content
Creating great content related to your brand and product/services can immensely help with increasing your share of voice. But in order to create relevant content, you need to know what is being seen on the SERP for a keyword, what kind of content is missing, and who are your competitors in the SERP. For example: as per our search engine features analysis, “People Also Ask” generally has a higher percentage of ‘What’ questions. In a very competitive keyword dominated by product and category pages, advertisers can look to compete with informational content.
If you want to learn more, check out GrowByData Webinars on Share of Voice.
The Google SERP share of voice we talked about in this article helps you understand where your business stands in the marketplace. Out of the several ways for improving a brand’s share of voice explained above, the key takeaway would be to analyze and understand your competitor’s gaps on the SERP and fulfill these gaps to displace and outperform them. We hope these improvement ideas help your brand increase your share of voice.
If you would like to learn more about Search Marketing Intelligence and how it can help your brand improve on the Google SERP, please email us at info@GrowByData.com and follow our Marketing Intelligence blog for more helpful insights.