Question

Topic: Research/Metrics

Estimating Market Size In Industry W/only Private

Posted by Anonymous on 125 Points
What are best techniques/resources for gathering the information needed to estimate the market size for an industry where the companies are all privately held
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RESPONSES

  • Posted by SteveByrneMarketing on Accepted
    Try industry associations. Also, Googling will produce some results.
    Enter “name of industry: market size or total sales or ???”

    Hoovers and Dun & Bradstreet have databases with private company information and some industry info.
    www.hoovers.com
    https://www.dnb.com/us/

    Best of luck,

    - Steve
  • Posted by SRyan ;] on Member
    Deirdre, can you tell us what industry?

    Maybe we can point you to specific resources if you are willing to provide that info.
  • Posted by Chris Blackman on Accepted
    Good Q Shelley... Type of business is vital info.

    e.g. if retails you can survey shoppers at competotor establishments about spending, count heads at competing stores (and own stores) to assess traffic. Traffic x average head spend = retail revenue.

    Plenty of ways to skin a cauliflower so long as you know it's not a potato.

    ChrisB
  • Posted on Accepted
    Zahid mentioned the approach I'd suggest, and it has been very effective in similar situations for me and for a few of my clients: start talking to people in the industry and see what they recommend. I've done projects like this where I interviewed a dozen "experts" and uncovered more good information than I could have gotten in the New York public library in a year.

    Find customers, suppliers, former employees, friends of former employees, anyone who might know something about the industry. Ask them who else they know that might have some ideas or other useful information. Follow-up on all the leads.

    If you do this in earnest, you'll be surprised at how quickly the input begins to converge on an answer, and how much more you can learn by asking around than you would ever have imagined.

    BTW, this is one of the great "secrets" of effective management consulting. Most people never think of this obvious approach, and it can set you apart from others who try to do everything by the book -- even when the book hasn't been written yet.

    (See "Rasputin For Hire" -- www.rasputinforhire.com -- for more on this and other non-standard approaches.)
  • Posted by SRyan ;] on Accepted
    There may be some useful (and free) info on www.census.gov . It won't give you a mailing list, but there is demographic info in several business categories.

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