Hi,
This is an interesting question and I was just looking it up a few days ago.
Answers to your questions:
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Yes, google can and does read ampersands and plusses and does show slightly different results depending on which you use.
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Maybe, if you check the SERPs for ‘black & white football’ and ‘black + white football’ are they different? When I took a quick look they were different - so once your ‘black & white football’ page starts ranking, check SERPs for ‘black + white football’ – you may be in the same place for this keyword, or you may be much lower. If you’re at the same position there’s no need to optimise another page, if you’re lower then maybe you should create a page. Be sure to check search volumes first though, there’s no reason to spend time creating a unique and optimised page for the keyword using a plus instead of an ampersand if nobody is searching for it.
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Yes they notice and treat each one slightly differently. Take these 3 example searches for ‘design and branding’:
https://www.google.co.uk/search?q=design+%26+branding&ie=UTF-8&oe=UTF- 8&ip=0.0.0.0&pws=0&uule=w+CAIQICIA&gws_rd=ssl
We’re seeing a lot of the same domains showing up - with a lot of the same pages - but in different positions as well as some sites sneaking onto page one for one term, and halfway down page 2 for another. Take www.steve-edge.com – currently at 7<sup>th</sup> for ‘design & branding’, 16<sup>th</sup> for ‘design and branding’ and 20<sup>th</sup> for ‘design + branding’.
So there’s the answer - yes Google can understand plus signs and ampersands, and yes they do treat each query slightly differently. You may be found at the same position for all variations, you may see fluctuations between each SERP, but what’s most important is checking to see if people are actually searching those terms with plus signs or ampersands before going to make the page - because there’s no point creating and optimising a page that nobody is looking for when the page they are looking for is being found fine.
Hope that helps!
Tom