You already know that Ariba Discovery™ is a great resource to find leads and land new business. Yet you may not realize that it also gives you a quick, simple, and cost-free way to obtain valuable information about your target market—which you can then use to hone your competitive edge and win more business.
So what’s the best approach? To get an idea, Supply Lines talked to Shirley Brzeski, director of ClearChoice Careers Ltd., who uses Ariba Discovery for market research and more. Below are four strategies you can use to get started.
Strategy #1: Track current and emerging market trends. Staying on top of shifting customer demands can be a big challenge, especially if you’re a smaller seller and lack funds for ongoing market analysis. Ariba Discovery can help you fill that gap. With over 200M USD in new business posted every month by hundreds of buying organizations—including 50 percent of the Global 2000—Ariba Discovery provides a great bird’s-eye view of purchasing patterns and market conditions. By regularly reviewing buyer postings in your industry over time, you can track what products, services, and qualifications prospective customers are seeking most often, then use that information as a yardstick for what you deliver. For example, ClearChoice scrutinized multiple postings to ensure that its service model was meeting market demands. “It helped us confirm that our approach is on track with what our target audience wants,” Shirley says. You can the same approach to spot nascent trends in commodity areas you serve, and gather intelligence about macroeconomic conditions that directly affect your business.
In tomorrow's blog, we'll share more tips on how to utilize Ariba Discovery