I is for Impact
Impact tools are: Analysis of Purchasing System, of Competiors and of Targets, Definition of Personas and Web Analyitics.
Competitors Analysis: There are many different ways of approaching the theme of Competitor Analysis. Here at Vehnta we follow a very simple process that allows us to have all the necessary information to understand the market and to make the most informed choices regarding brand, image, product and, as a consequence, offer. Competitor analysis is surely the starting point of the creation of new business but, in the terms with we usually operate with our customers, it is surely also the starting point of a new commercial phase in the wake of our active customer acquisition strategy. Competitors analysis is the mapping with the consequent evaluation of the strengths and weaknesses of competitors: an analysis that returns strategic information useful to put data in a context and to define the necessary tools to outline the context with a view to obtaining a competitive advantage. Let’s now see in detail what, here at Vehnta, we mean by Competitor Analysis.
Target Analysis: Target Analysis in a very important activity in all industries but, in the B2B world, it takes on a particular shape. In academic terms Target Analysis is defined as the set of activities put in place to define the goal that has to be achieved with communication, marketing plan and commercial strategies. To identify this goal, that we may as well call target, it is necessary to map and segment the single reference market, finding the right interlocutors for the product. It is a matter of finding the most receptive segment with a need, latent or expressed, that can be satisfied by a given offer: to hit exactly that part of the market that is looking for something. Target Analysis starts from the collection of the insights that will be the basis for the information driven from the reference market, that will allow to discover the most characteristic elements of a sector and the elements that are part of it, in other words companies, in order to make aware decisions: conditioned by what the players in a context really expect from a company that is present on the market with an offer. In B2B terms, the most important factor, according to Vehnta, is that the reference target is not a single consumer as in B2C, but the entire company and, more in detail, the purchasing system of this entire company that can be interested in the product that our customer offers to the market.
Definition of Personas: The Definition of Personas, or in other words the definition of buyer personas, is a very important step for moving from the representation of a potential customer company to the representation of a person that potentially is part of the purchasing system of that company. It is one or more profiles for this person: one or more profiles that in B2B make up a purchasing system. The Definition of Personas in B2B is therefore very different from the representation of the ideal customer in B2C and, as anticipated, it must take into account the role of the person in the purchasing system. It has to be a profound knowledge, driven by information from sales departments, in order to understand, starting from reality, how the company interlocutors, in the case of Vehnta’s mission the potential customers, work, think, want to achieve the goals in their plans. This information is of great importance in order to understand the reasons that guide their behavior, to draw profiles that can become useful archetypes to develop targeted communication and engagement strategies.
Web Analytics: In all lead generation and customer acquisition activities it is essential to acquire a better knowledge of potential customers and to monitor the performance of the activities that have been carried out. Data, if managed with expertise, can be a valuable ally to turn your information into results, to know new trends and to implement new strategic activities. The first step of a data analysis activity is the identification of the values that are relevant for the company and of the KPI that need to be monitored. Indeed, data to be tracked are not always the same for all companies and all strategies. They depend on the identified targets and on the active channels. Metrics analyzed with this method help to confirm or to change the choices that have been made and to imagine new possibilities for action. Data collected with web analytics systems indeed tell information about the past and are thus an heritage to define the future. In Vehnta we examine the acquired information to conceive new future activities that can be confirmed by data that will be collected over time. Lastly, a system of shared reporting and a constant collaboration with the customer keep the system fully aligned.
Analysis of Purchasing System
As highlight for this phase of the process we offer a snapshot of reality that allows the first actions to be made.
The aim of the analysis of purchasing system is to examine and design the corporate structure of the buyer and, on the basis of the information obtained, to develop an action plan that can start a first significant way of engaging and make the relationship with the target company more profound before it becomes part of the business process.
Once the structures of the purchasing system of the target companies have been defined we identify the players of the process in order to develop precise actions to draw on the table. However, before this step, we need to identify their propensity and reason to purchase: the level of openness or will to change of the target.
In order to define what messages to convey we understand how the involved players have different influence on the decision-making process, but also thier reason and needs. Once these premises are defined, we can then take steps aimed at influencing the target with a view to lead generation and customer acquisition.
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