ESTABLISHMENT OF A PLATFORM FOR EUROPEAN SALES INTELLIGENCE MATCHING B2B BUYERS AND SELLERS WITHIN A SINGLE EUROPEAN DATA MARKET

Project Information

ESIB2B

Grant agreement ID: 866965

DOI

10.3030/866965

Project closed

EC signature date 11 May 2019

Start date 1 June 2019

End date 30 November 2019

Funded under

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

GOAVA SALES INTELLIGENCE AB
Sweden

Periodic Reporting for period 1 - ESIB2B (ESTABLISHMENT OF A PLATFORM FOR EUROPEAN SALES INTELLIGENCE MATCHING B2B BUYERS AND SELLERS WITHIN A SINGLE EUROPEAN DATA MARKET)

Reporting period: 2019-06-01 to 2019-11-30

Summary of the context and overall objectives of the project

In today's high-pressure B2B marketplace the experience a company provides when selling is as important as its products or services. Expectations of B2B buyers follow B2C standards. Business customers require personalization even before a purchase and demand tailored engagement based on past interactions. Finally, they demand cutting-edge digital experiences to keep their business. Customers have high expectations about what makes a great customer experience and no patience for companies that fail to deliver. B2B sellers desiring to deliver a great customer experience need to prioritize targets and wield sufficient insight to stay relevant.
This is where Goava enters the picture. Goava delivers high-quality 360-degree sales intelligence insights to help B2B sales organizations stay competitive. Goava's benefits include increasing clients’ addressable market, helping businesses find opportunities that they didn’t know existed and making deals they otherwise wouldn’t. It helps them increase generated revenue and improve efficiency.
Goava alleviates the frustration related to finding new, well-researched prospects to sell to and always provides up to date insights about customers and prospects. It is the B2B salesperson's best friend. Goava is creating valuable insights from various sources of external data.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

The feasibility study involved key steps for successful deployment of the Goava technology: detailed market analysis, developing a revenue model, evaluation of viral potential and conceptualising the mobile app.
The feasibility study has shown that Goava Sales demonstrates strong technical and commercial viability. The main conclusion from this feasibility study, including feedback collected from the exploitation and dissemination activities, is that there exists a clear business opportunity to exploit the European market and support European companies, including SMEs, with discovering their next business opportunities in the most optimal way.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

We will create a new market. By providing insight into all of Europe’s companies, Goava will make it possible for various sectors to establish pan-European sales efforts, increasing both trade and interaction between companies in different European countries. At present the lack of insights makes these interactions more difficult to put in place, meaning that European companies become international at a later stage than otherwise possible. Goava’s solution will remove the competitive advantage afforded non-European actors from countries with large domestic markets. It will instead turn Europe’s B2B market into a single large digital market accessible for every European company. Goava increases the addressable market for every company that adopts it.

With important steps already accomplished: proven AI for ranking companies (at 100+ customers) and cost-efficient multi-market platform, the subsequent financing rounds will be used for further critical development of the product (i.e. mobile app, viral version) as well as business scaling activities and expanding in Europe. Planned R&D and commercialisation activities will enable the implementation of the new freemium business model, as a powerful lead generator with a huge impact on Goava`s growth.