Unlocking Market Insights: How U.S. Census Data Helps Marketers Size Opportunities
If you’re a business owner or marketing leader, you’ve probably wrestled with a big question: How large is my potential market? In a recent article, we broke this down into three concepts—Total Addressable Market (TAM), Serviceable Available Market (SAM), and Serviceable Obtainable Market (SOM). Together, they provide a framework for understanding the size of the opportunity in front of you.
But here’s the challenge: frameworks are only as good as the data behind them. That’s where the U.S. Census Bureau comes in. Often overlooked, the Census is one of the most powerful and reliable resources marketers can tap into for market sizing and strategic planning. It has been our go-to data resource for years, and by the way, it’s all free!
Let’s look at how Census data can become your secret weapon for smarter marketing decisions.
Understanding TAM, SAM, and SOM: A Practical Guide for Sizing Business Opportunities
Every business leader has wrestled with the same question: “How big is our real opportunity?” Whether you’re a CEO planning the next stage of growth, a marketing leader building a new product strategy, or a business owner looking to justify investment, understanding the size of your market is essential. It’s not just about dreaming big—it’s about setting realistic expectations and focusing resources where they’ll make the most impact.
This is where the concepts of Total Addressable Market (TAM), Serviceable Available Market (SAM), and Serviceable Obtainable Market (SOM) come into play. These three tools allow you to map out the opportunity landscape, distinguish between what’s possible and what’s practical, and help ground your business plan decisions.