There are a vast number of business models for you to choose from. In the following section we are going to break down the 3C business model and see how it can be used to analyze a client’s business. Be sure to analyze the client business, as described below, before evaluating web data.
The 3C analysis business model was originally created by Kenichi Ohmae, a management consultant. It has
been used as a strategic business model for many years and is often used in web marketing today. This method has you focusing your analysis on the 3C’s or strategic triangle: the customers, the competitors and the corporation. By analyzing these three elements, you will be able to find the key success factors (KSFs) and create a viable marketing strategy. Many variations have been derived from this method because of its simplicity.
Doing in-depth consumer research is the best way for you to figure out how to appeal to your target
market. Being able to create catchy catchphrases and creative ads is going to be your bread and butter.
Psychographic data also plays a huge part in this analysis. Figuring out the customer’s desires will drastically improve the success rate of your marketing strategies after they are put into circulation.
Data such as disposable incomes, likes, dislikes, where they get information, if they make impulse buys or not, and even how they respond to the client service or product already available is invaluable. Use answers from in-depth interviews, questionnaires and user tests to gain insight into the consumer mind. Use that insight to create concept diagrams, communication designs and personas that will boost your company’s popularity and hopefully help you spread your product or service into the world.
If they know and trust the corporation you’re promoting, their response will be much more noticeable. There are several tools on the Internet you can use to analyze customer responses. You can see answers posted on popular blogs and forums or look on FAQ sites to find clues about customer concerns and questions that customers have. But you must be careful because there are also decoys from the provider. Enter the service name or product name, or its category name, plus words like “concern” or “question” as the search phrase to find postings that can be clues.
For example, if the company handles snowboards, you can search for questions and concerns about the company’s brand or snowboarding itself. If it is difficult to conduct a survey in the real world, you can do it on the Internet using a questionnaire service provider or by using a market research company. You can also use a cloud sourcing service for charged questionnaires, although the user segments may become biased. Social networking sites can be valuable sources of information as well.
You can use the aforementioned websites and search engine results to discover rival brands and companies in addition to the list of data your employer offers. Comparison websites are popular in every industry and make investigating their products and services quite straightforward.
It’s important to note that, a hamburger shop for example, is going to have competitors in not only the fast food industry but in the restaurant industry and supermarket industry as well. You’ll have to narrow down your results so that you can put more emphasis on how to compete with the top three to five rival businesses.
After determining the main competitors, analyze them. How much effort do they put into their website? What catchphrase do they mainly use? What do they provide? What tools (e.g., newsletters and social media) do they use to invite users to their website? What is their overall marketing plan? Ideally, you’ll want to investigate the competitors from as many angles as possible so that their marketing activities can be completely understood.
Competitor analysis is mainly done by visiting their websites, subscribing to their newsletters, visiting their stores and/or receiving the service they offer. In addition, you can perform a user test to compare your client company with their competitor. It’s best to use an SEO tool to find out how the competitor is talked about on the web as well as to obtain the SEO-related information. For large-scale websites, you can use a competitor website analysis tool such as SimilarWeb to obtain useful information. Analyzing competing businesses in this manner will allow you an inside look into what their customers experience. This knowledge is invaluable. You’ll be exposed to the good and bad decisions the rival marketing department made and you’ll be able to utilize that knowledge in pursuit of success and profit.
The last step you’ll want to take with this method requires you to analyze your own client’s corporation. You’ll want to know what marketing strategies have worked for them in the past and what ideas have failed. The best way for you to do this is, again, from the customer’s viewpoint.
From the results of the customer and competitor analyses you have done so far, enumerate the company’s strong points and resources. If you are having trouble finding them, ask real customers for their opinions. By asking why they prefer your client’s product, you can get points to compare with the competitors and how customers are responding to current marketing activities.
If you can check web analytics data with a tool like Google Analytics, it will also help you. Contents you think attractive tend to have high values for the average session duration and PV. Based on such data, find out which pages of the company’s website the users are interested in and which pages they are not. This can be a clue about products and services matching the needs of the existing users.
Referrer information is also helpful. See which websites link to the client’s website, and in what context, to discover third party opinions of how the client’s website is regarded. The referrer URL can be used for this purpose.