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What’s Next For Your Micro-Business
Selling Nuts And Bolts Online
Small businesses that cater to industrial customers are missing out on online sales.
Industrial buyers seeking everything from nuts and bolts to sophisticated manufacturing equipment are turning to the Internet nearly twice as often as the offline information sources they have long relied on. But many industrial suppliers aren’t keeping pace.
A 2005 study from Google and ThomasNet.com, a leading Web site for industrial procurement, spotlighted the disconnect between industrial buyers and suppliers.
The study revealed that industrial buyers are bypassing traditional offline sources such as distributors’ catalogs, trade publications and sales reps when searching for products and services. Instead, those buyers are searching online.
However, buyers report that they have a hard time locating suppliers’ Web sites. And even when they manage to get to a supplier’s site, buyers can’t find the product information they need.
If your small business doesn’t engage industrial buyers via the Internet, you’re missing real sales and the opportunity to reach new customers. Just look at these numbers. The survey found that 97 percent of industrial buyers who researched or compared products online took one or more actions:
56 percent requested a quote 59 percent issued a purchase order 86 percent recommended or selected a new supplier or new product or service for their company based on their online experiences
What You Can Do
By making a few changes and upgrades to your small-business Web site, you can gain new customers and boost your sales in the industrial market. Try these ideas:
Build buyer awareness and drive prospects to your Web site. Advertise your site on search engines and on industrial destination sites. The survey showed that more than 80 percent of industrial buyers consider those the two most important tools for researching products and services. On your Web site, devote ample space to product details. The study found that 70 percent of buyers expect to find detailed information on product applications and uses, but only half of all sellers’ sites (53 percent) provide it. If applicable to your small business, make computer-aided design (CAD) drawings and plans available to Web site visitors. The survey showed that 58 percent of buyers want those, but only a minuscule 13 percent of sellers make them available online. List your prices for products and services. According to the study, only 23 percent of supplier Web sites post their prices online, but 74 percent of buyers expect to find prices when they visit a Web site. Include shipping costs and information on your Web site. As the survey showed, fewer than 17 percent of suppliers offer shipping information on their sites. Yet 67 percent of buyers want that information.
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(Posted January 2006) |
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