Market Potential
and Share
What Is My Market Potential and Share?
Revealing the market potential and share through their analysis is the first and key part of setting and following a marketing and sales strategy for your network. The success of even the best product, service or location is limited and often also fails with an insufficient total addressable market (=number of customers you want to reach with your offer).
Knowing the real market potential and share drives the right business decisions–from effectively distributing resources among your network, through a fair evaluation of store performance, to a higher ROI of your marketing campaigns.
Matches and a Candle in the Dark of Market Data
An absence of determining and continuously updating the real metrics of marketing potential and share on all levels of your sales network keeps you lost in the dark with market data, leading to the following issues:
Setting up nonrealistic revenue expectations and targets for each store, both under and over estimating their real potential
Inefficiently investing resources, including marketing spends within the network
Missing the most natural source of motivation based on a fair ranking among the stores
Inaccurate forecasting missing the data of a segmented addressable market
A neglected customer segmentation aspect when evaluating new business locations
An inability to compare the exposure of multiple locations–both current and planned
Two Market Metrics Featured in Multiple Decisions
CleverAnalytics determines market potential and share and displays them on a smart map in the Market Potential report and the unique Exposure Index showing the level of exposure for each location. Your business data outlines the real catchment areas that are combined with the most recent external demographics data, providing you with the following:
- Actual market potential for a given location based on its real catchment area
- Market penetration and share for each existing store and the overall network
- Exposure of any location displayed on a heatmap
- Market potential and estimated share for a planned location
- Ranking of stores within the network based on their market share, calculated from the real potential
- A typical customer profile to understand where to find more similar customers
- The ability to set fair quotas and KPIs
The Light in the Darkness of Market Data
CleverAnalytics brings marketing potential analysis for your current total addressable market as well as for the planned locations. Market potential and market share metrics are included in the multiple business views of CleverAnalytics, however, two views are strictly devoted to market potential: Market Potential Overview and Exposure Index.
Try our solution for Business Intelligence on a map - drop us a message and one of our consultants will show you how CleverAnalytics can help optimize performance of your business.
Related to Market Potential and Share
Competitor Analysis
Defining the market potential and share allows you not only to benchmark your network and better plan your sales territory, but also see how your metrics comparison with your competition.
Branch Network Optimization
Your network might be not be fully using your market potential or it might be using it ineffectively with overlaps of sales units that call for network reconfiguration. See how to optimize your network!