Share Of Voice Matters
It can be a challenge to calculate Share of Voice for paid search, but we have found that it is well worth the effort and can result in new opportunities and increased revenue. Your Share of Voice for paid search is based on the percentage of the Total Ad Inventory that you own for your keywords. The more real estate you claim on the search engine results page for your keywords, the more visitors you will get to your website and the fewer will go to your competitors.
Tips For Increasing Your Share Of Voice
Even if you don’t know exactly what your Share of Voice is, you can increase it by making sure you do the following 3 things:
- Advertise for branded keywords to preserve traffic and margins
- Build out a complete profile with Google My Business to maximize real estate in the results
- Utilize a variety of ad types and extensions to expand your footprint
How to Calculate Share Of Voice for Paid Search
We’ve come up with a relatively streamlined process to identify your total opportunity in paid search. It starts with some deep keyword research (we recommend SEMRush).
- Make a list of keywords that you (or your client) rank for
- Add keyword suggestions from SEMRush where appropriate
- Do keyword research on your competitors
- Using the average CPC and search volume determine the total spend across all keywords
- Multiply the Total Queries by your CTR to see what incremental opportunity there is
- Factor in the value of a conversion (or a customer) to see the potential increased revenue
To assist you with this process, we’ve developed a Share of Voice Calculation Tool.
If you are interested in leveraging our Paid Search SOV Tool, please fill out the form below: