Martech Case Study

by Jan 16, 2020Case Studies

A Market Sizing Project for CHILI Publish

Laying the groundwork for an effective expansion strategy by sizing the martech opportunities in the U.S. and Europe.

Introduction

CHILI publish developed software for smart artwork and marketing creation and is revolutionising the way graphical production is done by removing repetitive tasks for creatives. They were considering entering some new markets and were curious about how large the relative opportunities were. Kevin reached out to us for assistance in sizing these markets in Europe and North America.

 

Their no-nonsense approach and accurate assessment of market potential provided our board with crucial insights for our strategic roadmap. Smart templates require smart data, which is what Promethean Research delivered.

Kevin Goeminne

CEO, CHILI publish

The Big Question

How large of an opportunity exists in each geographic market and how does that compare to the size of the markets they currently sell into? 

How We Helped

DISCOVERY We held a discovery session to better define the markets CHILI publish was interested in. Based on their product, we focused the scope to the martech markets in North America and select European countries. Sizing these markets would allow them to efficiently design their expansion plans and make their go to market strategy more effective. 

SECONDARY RESEARCH A common first step we take is checking to see what data is already available. This can help in two distinct ways: 1) It can reduce the overall cost of the project if sufficient data is uncovered that answers the client’s core questions. 2) It can provide additional insight and context around the subsequent primary research that increases the value of the project as a whole. During this project, the amount of secondary research available in the markets we were interested in was scarce but we were able to identify a few high quality sources that helped contextualize our research.

PRIMARY RESEARCH Since the secondary research in this space was limited, our primary work would need to be relied on to answer the core question. A decision needed to be made between speed and expense versus the level of accuracy required. Since this report was going to be the basis for an expansion strategy that was rolling out quickly, we stuck a balance of a quick turnaround with a moderate level of accuracy. This would give CHILI publish a good enough idea of these relative markets while making sure the results could be quickly incorporated into their strategic planning process.

To size these markets we identified the percent of the marketing budgets that brands spent on martech in recent years and mapped that to the relative marketing budgets by industry. This gave us a spend profile that we could map to the industry layout for each of the selected countries. We then took the trailing 12-month revenue for each of the industries in the various countries and factored them by the expected marketing spend and then by the expected martech spend. This gave us relative market sizes by country.

The Result

We compiled all of our findings, including both the primary and secondary research, into a market size report. This report detailed the project goal, the definitions of the markets, our methodology, the results in terms of the serviceable addressable market sizes for each country, and a list of sources used. This report gave CHILI publish the knowledge necessary to assess these markets and build a successful expansion strategy. 

How Can We Help?

From Comprehensive growth evaluations, to strategic positioning, to custom market intelligence, and everything in between. 

Subscribe

Get the latest research, insights, tools, and resources that make managing a digital agency easier, delivered straight to your inbox.

Related Articles

The Factory – Consultancy Continuum

This post originally appeared in our newsletter on September 13th, 2022. Sign up to get our latest research, insights, tools, and resources delivered straight to your inbox twice a month. Factory-Consultancy Evaluation Complexity 2.0: The Factory – Consultancy...

Agency Roles, Goals & Structure

Getting the right people in the right seats allows owners and partners to focus their energy on more strategic questions vs. putting out that day’s fire. That additional strategic bandwidth can make all the difference when the market gets choppy.

Financial Metrics for Marketing Agencies

Monitoring the right metrics can make growing a digital agency significantly easier. By regularly monitoring them, and asking the right questions, they can reveal where you should focus your team.

How to Promote a Digital Marketing Agency

Like the cobbler’s children with no shoes or the photographer without family pictures, it’s easy for digital agency owners to overlook their own promotion. Agency owners are experts at elevating their customers’ brands, products, and services and designing growth...

How to Master Qualifying Customers

Customer lead qualification is the process companies follow to predict whether captured leads are interested in their services. Qualifying customers through a well-honed points system can improve lead quality, save resources, and glean better clients.  Before You...

How to Tell a Client Something is Out of Scope

Scope creep is a challenge for many digital agencies. It can quietly kill profit margins, lower morale, and create tension between you and your clients. But if you know how to tell a client something is out of scope, you can turn these situations into...

Creating Your Agency Roadmap

Some people make trip planning seem like an art form. Once they determine their destination, they plot the best route, make “must-do” lists, and assign tasks to fellow travelers. But any master planner will tell you there’s a method to their whirlwind of activity....

Key Digital Agency Tools

Workforce surveys often ask, “Do you have the right tools to do your job?” You can find an almost endless list of digital agency tools to increase efficiency and improve your offerings. Here’s a look at why tools are necessary and some of the top-rated, most prolific...

The Future of Running a Digital Agency

The adage, “The more things change, the more they stay the same,” typically withstands the test of time. Fashion and design trends recycle. Generations display similar developmental patterns. It’s like many facets of life are on repeat. But if you own a digital...

Understanding Monthly Recurring Revenue

Most business owners continually search for strategies they can bank on — figuratively and literally. Whether your digital agency is just starting out or has hit its growth sweet spot, monthly recurring revenue is likely an integral part of your operational and growth...
Share This