INCREASE IN MARKETING ROI DUE TO RESPONSIVE SPENDING
EARLY IDENTIFICATION OF CAUSE BEHIND MARKET SHARE DECLINE
In a competitive landscape, not only do businesses need to know how much of the market pie they own but also how can they increase it. To improve market share performance, the business should have a way to link reported/ estimated market shares to the different drivers of market share:
Technical Solution: Estimation model using a mix of proxy measures (as well as actual sales) to predict market share and identify the source of variance
Using internal and external data, a data-driven market share estimation was created, giving the opportunity for businesses to act upon the indicators creating negative effects.
We calculated historical market share based on company sales by market size. An ML-based model was deployed to find the relationship between company market share and the metrics from web searches, e-tailer websites, and social media. We then used the relationship to estimate competitors’ markets share in different countries of operation.
Root Cause Analysis was then used to uncover ground for pre-emptive actions within the internal teams as a strategic next step in reacting to emerging market share trends.
The market Share Estimation Model can be the first step towards building a comprehensive competitive intelligence solution, that links across multiple data sets and enables maximum value extraction.
The Market Share Estimation helped the client gain ownership of their data and its quality which in turn unlocked full visibility of the important inputs that affect market share fluctuations. On a product level, they were able to capture trending brands in their portfolio and use those insights to their leverage for deeper market penetration.
We are happy to answer any questions regarding our services, your data, and how we could work together.
This project has indirectly received funding from the European Union’s Horizon 2020 research and innovation programme under project REACH Incubator (Grant Agreement no. 951981).
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