Market share for Brand X Oil and Gas has been on a steady decline, however this changed with the launch of their new fuels formulation in 2019.
They managed to increase sales and close the gap, but how could they conclusively determine if they made a dent in the competitor’s market share, managed to win over customers from competitors and more importantly who are these new converts?
Here’s where ADA’s solutions can help.
Brand X Oil and Gas is one of the leading oil and gas companies in the country with the highest number for petrol stations, an attractive loyalty program and strong local roots. However, year on year their market share has been experiencing a gradual decline resulting in a large gap between them and the market share leader – Competitor 1.
They released a new RON95 fuels formulation to address the problem and the campaign was a success. Brand X Oil and Gas grew against the odds, in spite of declining industry growth and declining growth for RON95.
But to overtake the competition they needed to make sure that the increase managed to make a dent in their competitor’s market share.
Brand X Oil and Gas aims to be the market leader by 2020 however their market share is now tracking behind the local market leader – Competitor 1. They needed to measure exactly where their new customers were coming from.
They needed to dive deep into data and draw real data-driven conclusions to accurately measure where their customers were coming from and ADA found the solution with 3 simple steps.
These insights were drawn from the ADA Retail Business Insights Dashboard (Retail BID), a suite of solutions that provides actionable insights for retailers to compare their market share, customer behaviour, and footfall against their competitors by a geographic area.
The dashboard allows retailers to zoom in to specific areas to track changes in trends, consumer demographics, and personas to ensure the best targeting for marketing and sales strategies. The dashboard includes data from automotive, mall, and petrol stations.