Having a properly constructed website is key to doing business in today’s technologically advanced society and a crucial part of this endeavor is stakeholder analysis. Read below to learn more about what this term means and how it can shape your project for the better:

What is a Stakeholder?

A stakeholder is any person who has an impact on your business. This could include your employees, suppliers, the media, the government, local supporters and more. In essence, a stakeholder is any person or organization whose presence or opinion of your business will impact your bottom line. Most businesses understand the impact their employees have but might not understand how the media, their suppliers or the government can affect their business. However, all stakeholders are important. Keeping that in mind, read on to learn about how stakeholder analysis can be used in your businesses website creation.

The Benefit of Proper Stakeholder Analysis for Website Creation

• Shapes the Project: It takes the opinions of these stakeholders and shapes the look of the website as well as the specifics of a project, in its earliest stage.
• Offers Greater Support: Stakeholders have the option of financially supporting a product or service. A website can feature a section where such stakeholders are encouraged to donate in order to speed up the process of product creation.
• Allows A Business to Focus on Intended Customers: Customers can also be stakeholders in a company. A website that uses stakeholder analysis will take customer preference into consideration when designing their website. In other words, if customers appreciate videos that showcase products over a simple description of a product, this would be something a business could learn through stakeholder analysis.

Stakeholder analysis basically gives businesses an “inside” or “undercover” look at their customers, potential partners or investors. They learn this valuable information that then allows them to better target their potential investors and customers thanks to the proper analysis of this information.