ThomasNet recently published a new white paper titled Industrial Marketing Online with the much more interesting sub-title of “Getting industrial buyers and sellers on the same page”.
One of my readers recommended it. There is good stuff inside. You can download it here. (There is another interesting report there called Supplier Survival in the Information Age that I may review in the future.)
Here are some highlights:
Where buyers first look when researching a new need:
- Search engine (23%)
- Known supplier offline (19%)
- Industrial destination site (17%)
- Known supplier website (11%)
The next data set is where the reality-check of the sub-title comes in…where sellers are ‘meeting the market’ and where the buyers are looking.
The big disparities here are search engines and destination sites.
The search category is probably a bit erroneous because I would assume that organic listings in search engines may be enough without any effort on the marketer. But this data also means that nearly half of industrial marketers aren’t trying to maximize their value where 83% of their prospects will be.
The industrial destination site category is where ThomasNet falls. And these are apparently used more than some folks would think. How they are being used would be an interesting follow-up question.
Overall, the white paper reports that buyers can spend an average of eight hours of research online before making a purchase. Did you get that? Eight hours!!!
The last set of data in the report jabs a well-deserved elbow in the ribs of us B2B marketers: Buyers are looking for, but not finding, the following information on our websites:
- Pricing
- Tech support details
- Shipping
- Ordering online
I could write a post about each of these, but suffice it to say that these are big challenges that may not be practical. The paper acknowledges this, but tells us that the potential customers would be quite grateful if this information were online, as they could remain anonymous. That is half of why this information is NOT online. We want them to call us.
However this data aligns with your marketing methods, I think it is a helpful snapshot for how the buyers are behaving and what they expect. When planning for 2007, I’d keep this information in mind!
That’s some great information Dave, especially the trade show disconnect shown in the chart. Thanks for the post!
That’s some great information Dave, especially the trade show disconnect shown in the chart. Thanks for the post!
Chris–glad you noticed that. I was going to write about it, but seemed a bit off the topic. (Also I fixed post to include links to source material.)
Chris–glad you noticed that. I was going to write about it, but seemed a bit off the topic. (Also I fixed post to include links to source material.)
Dave, I think this information supports most business bloggers theories. My biggest surprise is the fact that only 11% look at a current suppliers website. 11%! Why do we spend so much time on them? OK, for non-customers is a good reason, I suppose.
Dave, I think this information supports most business bloggers theories. My biggest surprise is the fact that only 11% look at a current suppliers website. 11%! Why do we spend so much time on them? OK, for non-customers is a good reason, I suppose.
I think a lot of companies avoid search engine marketing because of it’s daunting difficulty. It’s hard to believe that one use search engine marketing when webpages fall on the 421st page probably destined to be seen by no one.Here is a secret though that I learned from a great book, Search Engine Marketing for Dummies (and unlike much of the For Dummies series this contains real meat and potatoes that you can use.) – You have to systematically target the search words for which you site will appear -. You can’t just say, “Oh I sell cars, so I have to rank number one when somebody types cars into Google if I want to search engine market.” You need to pick phrases like “pimped out super hondas” or “redesigned exotic european automobiles.” They ultimate key is having words that enough people search for without too much competition.Finally, this isn’t all just theory. I applied it to my company’s website http://www.broadgatebusinessfinancial.com.I rank on the first page on the major search engines for words like B2B Business Financial, B2B Factoring, and B2B Business (on MSN). I did this without the help of any SEO consultants, web designers, etc.
I think a lot of companies avoid search engine marketing because of it’s daunting difficulty. It’s hard to believe that one use search engine marketing when webpages fall on the 421st page probably destined to be seen by no one.Here is a secret though that I learned from a great book, Search Engine Marketing for Dummies (and unlike much of the For Dummies series this contains real meat and potatoes that you can use.) – You have to systematically target the search words for which you site will appear -. You can’t just say, “Oh I sell cars, so I have to rank number one when somebody types cars into Google if I want to search engine market.” You need to pick phrases like “pimped out super hondas” or “redesigned exotic european automobiles.” They ultimate key is having words that enough people search for without too much competition.Finally, this isn’t all just theory. I applied it to my company’s website http://www.broadgatebusinessfinancial.com.I rank on the first page on the major search engines for words like B2B Business Financial, B2B Factoring, and B2B Business (on MSN). I did this without the help of any SEO consultants, web designers, etc.
Michael–It is daunting, you are right. But it is the lowest hanging fruit. You can’t ignore it. Thanks for the book recommendation…I hope some other readers find it helpful.
Michael–It is daunting, you are right. But it is the lowest hanging fruit. You can’t ignore it. Thanks for the book recommendation…I hope some other readers find it helpful.