How to forecast the revenue opportunity for the coveted ‘position 0’
Everyone wants to command that coveted 'position 0' for regular and voice-based search, but that doesn't mean you can, says contributor Karen Bone. Here's how to figure out if it's worth trying.
Today’s article is a continuation of “Want to target position 0? Here’s what you need to make that happen.”
There are two primary reasons for targeting the coveted position zero (0), also known as the featured snippet:
- To sit at the top of the search engine results page.
- To capture queries within voice-based search results.
When your goal is to be number one in the search results, you’ll need a strategy to achieve a featured snippet of your page’s content. This requires in-depth research and analysis of the opportunity, including investigating your competitors and knowing which keywords to target.
In my previous article, I covered the five steps you should take when developing this particular strategy. But with a project of this size and the presumed resources needed to execute it, chances are you’ll need to justify its importance to your team and, more importantly, to your client.
What’s the best way to do that? Provide a thorough forecast that demonstrates an increase in the conversion rate or dollar value. In this article, I’ll explain exactly how you can calculate a forecast for achieving a featured snippet.
Click-through rate of ‘position 0’
In a 2017 article titled “Another Study Shows how featured snippets steal significant traffic from the top organic results,” author Barry Schwartz implied that “position 0” may get about an 8.6 percent click-through rate (CTR).
However, that number depends heavily on a number of factors, including whether the snippet content satisfied the search query if only a portion of an answer was featured, or if a video was offered for viewing.
Between a number of articles and other assumptions we’ve seen, it’s clear we haven’t really pinned “position 0” to the organic click-curve rates on page one search results.
Assumptions and forecasting
When calculating a forecast, you’ll need some key metrics:
- Keyword search volumes.
- The CTR for the target ranking position.
- Your landing page conversion rates from organic traffic.
- If you have an e-commerce site, I recommend including your average order value as wel…[Read the full article on Search Engine Land.]