Enterprise Ireland Case study
Consumer Retail Market
Benchmarking online business maturity of Enterprise Ireland client business using ‘Power to Convert’ diagnostic rating tool.
The Enterprise Ireland CRM team was concerned that client companies were not focused on using online as a core part of their business strategy. They were also aware that many companies struggled to effectively implement or resource their online business channel. Considering the critical role the web will play in future competitiveness and business growth, Enterprise Ireland was focused on establishing the current state of play and responding effectively and quickly. Rather than working on anecdotal information and client feedback, Enterprise Ireland wanted to find:
Pinpoint the most important and impactful ways to fast track online growth
Hone in on online conversions in particular, to profile each client business in terms of online business maturity
Engage the most senior management to focus on their digital business channel.
Enterprise Ireland selected the Marketfinder online diagnostic tool, ‘Power to Convert’, to enable them to:
Quickly and cost effectively rate individual and the sectors online business maturity
Provide an understanding of what stage group and individual companies were in developing a digital business channel
Assess businesses on critical key performance indicators: including business culture, budgeting, website set-up, knowledge and understanding
‘Power to Convert’ provided a means of benchmarking using a SaaS solution
Deliver automated end to end online process to establishing online maturity ratings.
Once logged in, the business responded to a number of queries. These were further evaluated using an online conversion rating algorithm – incorporating weightings and benchmarks to rate their ability to manage, generate leads and convert customers online. Participating companies were free to save and return to the ‘Power to Convert’ tool at any time or involve other members of the team in the process. On completion each client business immediately received an overall rating report accessible via the web.
The ‘Power to Convert’ report provides each business participant with:
Overall rating report against industry benchmarks
Pinpoints key areas where greatest opportunities lie to increase the number of website visitors who convert into qualified leads or customers
Provides access to relevant tips, guides, case studies, product comparisons, reviews and research focused on increasing online business
Revealed how their business rated for online maturity compared to their peer group.
Peer to Peer
In addition to providing each participating business with an individual tailored rating report, Enterprise Ireland could also share with each client details of how their company rating compared to their CRM peer group rating.
Enterprise Ireland found the ‘Power to Convert’ tool:
Delivered a renewed focus on online at a senior level within client companies
Acted as a catalyst to increase engagement with Enterprise Ireland
Provided a detailed report from which to zone in with clients to address individual opportunities to increase online business
Evidence-based online maturity rating report for each individual business and entire group
Clustered and grouped businesses into distinct segments based on common needs and gaps to allow Enterprise Ireland tailor supports effectively
Provided data analysis to pinpoint group trends, clusters, commonalities and identify opportunities
Very easy to deploy, fully automated end to end
Process from start to finish very smooth.
Enterprise Ireland can access all the findings online and see how individual companies rate against the industry benchmarks, as well as providing a peer to peer benchmark for the CRM group.
Enterprise Ireland is planning on running a further ‘Power to Convert’ diagnostic with the group at a later stage. The aim is to assess how effective the supports and assistance have been in increasing the number of CRM businesses that achieve a higher rating. A result that would show ‘Novices’ becoming ‘Apprentices’ and ‘Apprentices’ moving up the maturity ranking into ‘Lead Practitioners’ as quickly as possible would be a major win.