What's your consumer 'share of intent'?
Digital marketing is an extremely innovative and creative industry that explores ways to bring people closer to brands through digital channels. Share of intent, coined by Google, is a powerful metric to understand your visible presence in a consumer's world.
The Me Factor
The ‘Me Factor’ identifies the key shift in the way digital has changed consumers. Digital provides the opportunity to control media input in their lives. Instead of being in the end of media schedules and programmes, consumers now demand the content they wish to consume.
Share of Intent
As consumers drive search traffic volumes based on their intentions, it's important to understand consumer intent. Google breaks intent into four categories and describes them as micro moments:
2. I want to do moments
3. I want to go moments
4. I want to buy moments
Micro moments provide a strong framework to develop advertising and search marketing strategies, improving a share of intent rather than a share of voice.
Intent drives higher conversions, leads to more relevant content strategies and improves brand awareness. In the last Google Insights report, they show that just by showing up in relevant micro moments brands can improve their brand awareness by 6.9 percentage points.
Share of Intent vs Share of Voice
To be honest, I don’t believe these are opposing each other. In fact, they both need to be considered in a holistic digital marketing campaign. We need to include Share of Intent (SoI) as an overlaying layer to our Share of Voice (SoV) intentions. SoI drives deeper into SoV goals by contributing smaller niche micro-moments to our broad spectrum digital activities, like awareness campaigns on social channels.
Share of intent is an often-dismissed aspect of digital marketing that can have a dramatic effect on return on investment for brands.
About Mike Saunders
Mike Saunders is the CEO of DigitLab, an international speaker, and has had the privilege of working with some of the worlds most prestigious organisations including Vodafone, IBM, Microsoft, KPMG, Norton Rose, Mr Price, Toyota and Exxaro. Along with his experience in business, Mike has also contributed to leadership programmes for Gordon's Institute of Business (GIBS).
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