Book a Call

Lentune – Market Sizing and Product Market Fit

The Business Problem

Lentune Is a New Zealand accounting software company founded in 1998. It provides cloud-based cost management software for commercial and residential construction companies that streamlines company finances to unlock bigger business potential. In 2022, they expanded into the Australian market and in early 2023 wanted to better understand the in-market opportunity, competitor environment and buyer journey to create a strong brand identity in the country.

THE BRIEF

Research Objectives

Lentune  wanted to better understand their market sizing and product market fit including:

  • Gauge the potential size of the market in Australia, level of interest for Lentune and how that may vary by size of organisation or sector
  • Identify key  competitors or existing players in Lentune’s market and its point of difference
  • Identify where the potential white space is for Lentune entering the Australian market

THE SOLUTION

Insights Exchange Approach

To best determine the Total Addressable Market (TAM), Serviceable Available Market  (SAM) and  Serviceable Obtainable Market (SOM), Insights Exchange decided on a 2 -stage approach for the market research. 

The first phase focused on a secondary research study to analyse the current Australian market and category. This was followed by a 5 minute online survey of n=100 owner/operators or decision makers in the construction industry including Commercial, Residential and Commercial Trade representatives.

 

Outputs

Key findings included:

  • Specific SOM opportunities for Lentune in Australia
  • Target audiences that are open to new technology to grow their business
  • Level of appeal for the Lentune proposition in the commercial and residential construction industry

“We approached Insights Exchange to better understand our potential customers in Australia and to size the market opportunity. Their past expertise with working in both New Zealand and Australia with technology start-ups and their good reputation with clients such as Xero was our appeal to working with them. We were really impressed with their responsiveness to our queries, fast turnaround, quality of researchers and ease to work with. “

Irina Smolina – Marketing Manager – Lentune

ABOUT

Insights Exchange has a network of over 35+ researchers globally including Australia, USA, UK and South East Asia. Our tech-driven approach and partnerships with fast-growth global research technology companies empower us to provide impactful market insights to businesses globally.

QUICK LINKS

CONNECT

SUBSCRIBE TO OUR NEWSLETTER