This podcast defines and explains the importance of TAM (Total Addressable Market), SAM (Serviceable Available Market), and SOM (Serviceable Obtainable Market) in developing an SEO strategy. The podcast emphasizes that these metrics help businesses evaluate market opportunities and refine their SEO approaches. Understanding TAM, SAM, and SOM allows for setting realistic revenue goals and targeting the most worthwhile markets. It cautions against the "TAM trap," where assuming uniform intent behind keywords can skew market size estimations.