PSIS - Market Share Benchmarking

The challenge

Boards and stakeholders across all industries are making marketers increasingly accountable for improving response rates and ROI for their campaigns. In order to do this marketers must be able to measure the effectiveness of their marketing initiatives.

Personal banking provider, PSIS, wanted to not only measure their marketing effectiveness, but also the effectiveness of their target market strategy; benchmarking the scope of the New Zealand market within their seven defined segments and measuring PSIS' penetration within those segments.

The solution

Datamine used Census data to complete the benchmarking exercise, determining the number of people in New Zealand that fit into each of PSIS' seven segments. PSIS customers were then matched to profiled meshblocks, enabling Datamine to measure PSIS penetration with the segments relative to the New Zealand market.

The results

The benchmarking exercise provided the PSIS management team with a report of their market share for each of their seven segments and an accurate starting point from which to measure their growth and effectiveness of marketing initiatives.

To maintain a consistent measure over time, Datamine will be updating the market share benchmarking report with the new Census data and then on a quarterly basis to reflect the changes to PSIS' market penetration.