Yesterday, we shared some strategies on uses of Ariba Discovery for market research. Today we'll share our last strategies!
Strategy #4: Assess your market position. By comparing the postings you receive against the total field of leads sent, you can evaluate your win/loss rate to see where you stand—and determine whether your marketing approach needs some fine-tuning. For example, if 1,140 postings have been sent in your category during the past four months but you’ve gotten only 67, it’s a safe bet your competitors are doing something right that you’re not. To check the numbers, log into your Ariba Discovery account, click “Leads” to see all postings matched to you in the past year, then select “click here to view all postings” to review opportunities you did not receive. If none of them seems appropriate for your business, you’ll know you’re on the right track—but if postings you qualify for never reached your inbox, it’s time to make some changes.
For ClearChoice, fewer-than-expected postings along with mismatched leads indicated that adjustments were in order. “Early on, we were getting some odd stuff that didn’t seem to relate to recruitment or training; it was way too specific for what we offer,” Shirley says. To fix the problem, she took a closer look at various areas of the company’s Ariba profile. First up was the company description. “When you have to describe what you do in just a couple of lines, it’s important to make every word count,” Shirley says. Even small tweaks can make a big difference, since buyers often conduct searches via keyword. By studying terminology used across multiple postings and responses, she arrived at the perfect mix. Commodity choice was another focal point for revision. “You want to make it as tight as possible, but not so tight you miss opportunities,” Shirley says, noting that less-inclusive category selections did the trick for her company. “Over time we’ve received better, more appropriate leads.” (For more tips on optimizing lead relevance and results, read “Unlock Your Potential to Reach More Customers.”)
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