To conduct a stakeholder analysis, it is important to first know their definition.
Stakeholders are a group of people who have an interest in a company and its activities.
Their goal is to contribute to the achievement of a specific objective of the organization.
In essence, they are: shareholders, customers, employees, suppliers.
Types of stakeholders
Stakeholders with similar interests, expectations, or rights can be divided into two types:
- Primary stakeholders: individuals on whom the company depends for its survival: shareholders, employees, customers, suppliers, and government agencies;
- Secondary stakeholders: entities that come into contact with the company for various reasons, such as the area where the company operates, the size of the company, and the employment levels guaranteed.
The stakeholder can influence the sales organization of products in a company.
Stakeholder Analysis
Stakeholder analysis is an important technique used for management and identification of their needs.
It is used to identify all the key stakeholders who have an interest in the advertising project.
The primary parties concerned are those positively or negatively affected by the project.
The goal of this analysis is to develop a 360-degree view on the issues that stakeholders are most interested in.
The techniques used for stakeholder analysis include:
Stakeholder Mapping
After having identified all the parties interested in your project, you can map out names using an interest grid, classifying stakeholders thereafter.
Once stakeholders have been classified, a position for each can be assigned on the grid to enhance visual information.
Salience Model
Another stakeholder analysis technique is the use of the salience model, which is a diagram where three circles intersect, creating seven regions within and an eighth region outside of the circles.
The three circles represent:
- Power: the ability of a stakeholder to influence the outcome of the project;
- Legitimacy: the legitimate involvement of a stakeholder in the project;
- Urgency: a stakeholder's expectation of a response that comes from the project and project team.
Very important!
In an analysis, it is important to monitor any changes in the status or classification of a stakeholder.
How to conduct a stakeholder analysis
There are three simple steps to follow in stakeholder analysis:
Identify who your stakeholder personas are
We start with a brainstorming (a discussion where various ideas are presented and a solution to a problem is found).
Regarding stakeholders, think about all the people who influence the company and have power over it.
Make sure to identify individual stakeholders and what power they exercise over the company.
Prioritize your stakeholders
Once the analysis is conducted, you can have a list of people and organizations that are interested in the project, how?
Simply by mapping them.
Finally, display the assigned location for each stakeholder.
You can do it too, you just need a lot of commitment and an excellent marketing and sales platform.
Free trial for 30 days. No credit card required.
