James Hankins wrote a blog post titled The most important metric you’ve never heard of.
« First step is to work out who the number 1 player in your market is and in Google Trends type that one in first. This is your BASE and is the brand against which all the others will be measured. Then add in your brand and the other competitors in market. »
« You’re limited to 5 at a time so just make sure you download the data before changing your brands BUT remember to keep the BASE (biggest brand) in. »
Import into Excel.
« When I’m in Excel I have the months down the side and the brands at the top. »
You’ll have monthly data for each brand going back to 2004. Smooth out the fluctuations by creating a 12-month moving average for each brand. Total each row for monthly market total.
« Divide each brand by the total of that month. »
« And why is Share of Search (SoS) important? Because it’s an accurate proxy for Share of Market (SoM) »