No matter how innovative a company is, it is expected to have competitors with whom it competes for greater market share.
This participation, also known as Market Share , represents —among several particularities— the portion of the public that your business was able to conquer, which is directly proportional to the income generated by that part of the market.
Do you want to learn more about the importance of the benin email list 136028 contact leads concept of market share, understand how to calculate it and even get tips on how to increase this indicator for your company?
We show you all that below!
What is market share?
We can understand the idea of market share from several aspects. Whatever parameter is used, the objective is to determine, through percentages, to what extent companies in the same field of activity stand out from others .
If we imagine the potential market of a company in a certain sector as if it were a pizza, the market share would be the slice of that public that consumes your products and services.
In this case, it is about brand penetration , an important piece of information for planning and evaluating the company's marketing actions .
We can also evaluate market share from the point of view of sales volume or even the number of users , if the company operates in the digital asset industry.
Another way to look at market share is as a reflection of the size of the company's operation compared to its competitors, something that is closely related to the value of the brand , and of the company itself, in the market.
To give you an idea, in the search engine industry , Google has a market share of around 92% , while Bing has about 3% and Yahoo has almost 2%.
This says a lot about the strength of Google, which is the preferred search engine in the vast majority of countries and considerably dominates its opponents.
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Why is market share so important?
By tracking how that engagement increases or decreases over time, organizations have a good indication of whether their marketing strategies and strategic planning actions are having the desired effect or not.
While increasing market share may be a good sign, declining market share may mean that steps need to be taken to contain competitive pressure .
