How EvettField Partners Approach Market Size and Market Share
One of the most common questions we receive from businesses exploring market opportunities is: How do you accurately size a market when data is scarce or unreliable? Many businesses have a solid understanding of their customers and competitors, but market sizing remains an elusive challenge.
Recently, we had a discussion with a potential client who was comfortable with our approach to customer research and competitive analysis but wanted to dive deeper into how we model market size and market share. This is a frequent concern, as many businesses struggle to access reliable data beyond generic industry reports like IBIS World.
At EvettField Partners, we consider market sizing one of our core competencies—one of our “superpowers,” if you will. It is also one of the most time-intensive parts of any research engagement because it requires finding insights that are often not publicly available. Our approach is designed to uncover hidden opportunities, verify assumptions, and provide a reliable, data-driven model that business leaders can confidently act upon.
The EvettField Approach to Market Sizing
Market sizing isn’t about downloading a report and accepting the headline number—it’s about building a custom model that reflects your unique market conditions. Here’s how we do it:
Identifying Reliable Data Points
Every market is different, and there’s no one-size-fits-all methodology. Our process begins by identifying reliable data points that can be used as building blocks.
- If the government collects data on an industry, we leverage it.
- If industry associations provide insights, we validate them.
- If competitors disclose useful information in financial reports or investor presentations, we analyse it.
However, in many specialised sectors, there simply aren’t official reports. That’s where our expertise in sourcing, verifying, and triangulating data becomes invaluable.
Custom Market Modelling
Our market sizing models are built from the ground up, using a mix of quantitative and qualitative research. We customise models to each client because no two businesses have the same product range, customer base, or market reach.
For example, if two competitors operate in the same industry but one sells a broader product range or serves a niche customer segment, their market size and opportunity will differ. That’s why a generic, top-down estimate doesn’t work—we create, evidence-based models specific to your business.
A Triangulated Approach: Market Sizing from Multiple Angles
To ensure accuracy, we triangulate data from three key sources:
- Competitive Analysis – We investigate what competitors are selling, how they position their offerings, and estimate their market share.
- Customer Buying Behaviour – Through direct interviews, surveys, and secondary research, we assess how customers buy, how much they spend, and what drives purchasing decisions.
- Industry Trends & Economic Indicators – We analyse broader market conditions, industry growth rates, regulatory factors, and adjacent sectors that influence demand.
The key is that no single data point is enough. Instead, we cross-reference multiple sources, apply industry expertise, and validate findings against client sales data.
The Role of Clients in the Validation Process
While we conduct the heavy lifting, our clients play an important role in validating assumptions. We don’t just hand over a report and say, “Here’s your market size.” Instead, we work collaboratively to ensure the model aligns with real-world experiences, historical sales data, and known industry trends.
Through this iterative process, we refine the model to a point where it withstands scrutiny—whether from internal stakeholders, board members, investors, or potential acquirers.
Why This Approach Matters: Real-World Impact
Our methodology has helped clients avoid costly mistakes, identify hidden growth opportunities, and challenge long-held assumptions about their market.
Case Study: Uncovering a Multi-Million Dollar Growth Opportunity
We once worked with a company supplying batteries for industrial applications. Their sales team believed they had “maxed out” the market, assuming they were capturing the majority of available business. However, through our market sizing process, we discovered that they were only securing a very small percentage of their customers’ total spend on batteries.
This insight fundamentally changed their growth strategy. Instead of pursuing diversification or acquisition, they focused on increasing wallet share within their existing customer base—unlocking untapped revenue.
Case Study: A Global Printing Company’s Business Card Market Model
A global printing company engaged us to determine the market size for business cards in Australia. This was an incredibly complex task due to the fragmentation of the industry.
Rather than relying on generic estimates, we built a detailed model based on job titles (since business card demand correlates with specific roles), annual usage rates, and price segmentation. By cross-referencing this with actual sales data, we provided a highly precise estimate that was later validated by their internal analysts—changing only marginally after weeks of internal review.
These examples highlight why market sizing, when done properly, is more than just an academic exercise. It provides businesses with actionable intelligence that drives better strategic decisions.
How EvettField Partners Can Help You
EvettField Partners specialises in providing market intelligence, competitive strategy, and lead generation for mid-sized B2B organisations in Australia and New Zealand. Our clients include manufacturers, professional service providers, and businesses looking to expand into new markets with evidence-based decision-making.
We help our clients with:
✅ Market Research & Competitive Analysis – Understanding industry trends, competitor positioning, and customer needs.
✅ Market Size & Market Share Modelling – Creating robust, verifiable models that inform investment, sales, and expansion decisions.
✅ Go-to-Market Strategy – Developing strategic roadmaps to help businesses grow and win in competitive markets.
✅ Lead Generation & Digital Marketing – Turning insights into action through data-driven customer acquisition strategies.
Book a Free Strategy Session
If you’re looking to gain clarity on your market opportunity, we’re offering a free one-hour strategy session with Michael Field, Partner at EvettField Partners. This session will help you understand how market sizing, competitive insights, and customer analysis can drive better business decisions.
📅 Limited sessions available – Book now to secure your spot!
To schedule your session, contact us today and start making data-backed decisions that will shape your business’s future.