Direct Answer
Impression share (IS) is the percentage of times your ad showed when it was eligible to show. 100% means your ad shows every time it could; 50% means you missed half the eligible auctions. The two reasons IS drops: budget (rank IS lost to budget) and ad rank (lost to rank). Both are diagnosable in the Google Ads console.
Voice answer (≤30 words)
“Impression share is the percentage of times your ad showed when eligible. Below one hundred percent you are losing impressions to budget or ad rank.”
Budget loss = raise budget or pause low performers. Ad rank loss = improve quality score, ad relevance, or bid.
Brand campaigns should run at 95%+ IS — anyone competing on your brand name is stealing high-intent traffic.