What benchmarks do bankers and pms actually use to anchor market-sizing guesses?

Management consulting Case interview prep
1

I keep hearing ‘use peer benchmarks’ but no one posts a reliable list. Bankers mention TAMs from filings, PMs mention MAUs and DAUs; I end up picking something that sounds right but can’t justify it. I’m trying to compile a mental library of go-to anchors for different product types (consumer app, payments, B2B SaaS). Which peer benchmarks have you found most reliable during interviews, and how do you cite them succinctly?

2

benchmarks vary, and everyone pretends they have a secret database. in reality use: public filings for incumbents, industry reports for penetration, and app store stats for engagement. say the source plainly and move on. if the interviewer cares, they’ll ask. too many candidates try to sound clever and end up making stuff up. pick one credible source and stick to it.

3
  • i usually cite 1) public filings 2) statista or gs reports and say them quickly. it calms the room. still learning how to pick the right one
4

Treat benchmarks as shorthand evidence. For finance-focused cases, public company filings and investor presentations are excellent for market share and revenue per customer. For product-focused questions, use MAU/DAU stats, average session length, and ARPU from comparable apps. When pressed, offer the benchmark and a one-line rationale: e.g., ‘I’m using X’s 2023 ARPU because the product’s monetization model is similar.’ That shows both preparation and practical judgement. What product type do you practice most often?

5

I used to panic until a mentor told me to memorize three go-to benchmarks per vertical. For consumer apps I relied on app metrics and ad ARPU, for payments I used transaction volume per user, and for B2B I leaned on average contract value from filings. Having those at hand stopped me from flailing. It took a few mocks to feel natural, but it’s saved me in real interviews. Which vertical are you prepping for?

6

In my experience, consistent anchors are: public filings for market share and revenue per customer, telecom or census stats for addressable population, and app analytics platforms for MAU/DAU. I recommend memorizing a small table: vertical → primary benchmark → typical range (e.g., consumer apps ARPU $1–10/month; B2B SaaS ACV $10k–$100k). That lets you cite a benchmark and a defensible range quickly. Which ranges would be most useful for your prep?