{"id":6290,"date":"2022-09-17T01:08:36","date_gmt":"2022-09-17T01:08:36","guid":{"rendered":"https:\/\/logicaresearch.com\/?p=6290"},"modified":"2022-09-17T01:10:21","modified_gmt":"2022-09-17T01:10:21","slug":"market-sizing-for-financial-brands","status":"publish","type":"post","link":"https:\/\/logicaresearch.com\/market-sizing-for-financial-brands\/","title":{"rendered":"Market Sizing: The Right Steps for Financial Brands"},"content":{"rendered":"\t\t
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Market Sizing Research for Financial Brands<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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What is Market Sizing?<\/h2>

One of the most crucial tasks of a marketer is to calculate the size of the market for company products, as well as the potential value of this market. Logica\u00ae works closely with clients in the financial industry and technology space to determine market sizing\u2014the first step used when creating a marketing plan or sales strategy. The insights gathered help with strategic decisions about product development and future growth.<\/p>

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Market sizing efforts can range from high level and broad to very detailed, depending on the time, budget and available data and how sensitive a measure needed. Logica takes a hands-on approach to understanding your business, your objectives and budget to recommend an approach that will be right for you. Here are some of the market sizing basics.<\/p>

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The Key Metrics of Market Sizing<\/h2>

There are three key metrics that provide a useful framework at all stages of growth for a company. They are:<\/p>

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  1. Total Addressable Market (TAM):<\/strong> This represents people or companies who could be interested in acquiring the good or service. It represents the total market and the maximum potential revenue a company can generate with its product.

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  2. Serviceable Available Market (SAM):<\/strong> This represents people or companies who are interested in acquiring the good or service; the proportion of the TAM that the company can serve with its product.

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  3. Serviceable Obtainable Market (SOM):<\/strong> This represents the market share, the proportion of the SAM that the company can realistically capture.<\/li><\/ol>
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    Calculating TAM, SAM and SOM<\/h2>

    To calculate the TAM, you may need data from sources like the U.S. census, the U.S. Bureau of Economic Analysis, Dun and Bradstreet, or Hoovers as well as industry data from other public and non-public sources. To calculate the SAM and SOM, it is best to have proprietary data by conducting a study among your target audience to help refine your ideal customer and estimate the purchase intent of your product.\u00a0 This is where Logica can help you save your team time and money by leveraging our expertise and taking this effort off of your plate so you can focus on what you do best.\u00a0 Logica will design and execute the research, which includes the sample design, sourcing the sample, the survey tool development, and the analysis and reporting.<\/p>

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    There are several ways to calculate the TAM, SAM and SOM, the most used are:

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