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Like all metrics, this is not the be-all-and-end-all, but a useful one to keep your eye on, and not included in the default reporting columns (so I always add it through Modify Columns).
Search Impression Share shows the percentage of times your ad was shown when it was eligible to.
Eligibility is determined by your relevance, bid, budget, campaign settings etc.
There is no magic number for what makes a “good” Search Impression Share (or SIS) but it gives you a good understanding of the quality of your ads, and your competition.
Keep in mind that Google Ads wants all advertisers to keep advertising, so they are still going to share the Impressions around (while giving position preference to the better quality ones).
My advice is to know what your Search Impression Share is, to understand your ad visibility, whether it’s 10%, 20% or 50%. And keep an eye on it, maintaining it or increasing it through the best quality, most relevant ads and competitive budget.
If you see your SIS on a downward trend, there’s cause for alarm in your campaign somehow…
If you want to learn more about how to optimise your Google Ads campaigns and what all these important metrics mean, do check out our upcoming Google Ads Optimisation workshop: https://scoutdigitaltraining.com.au/events/google-ads-optimisation/