Online Sales Opportunities

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, according to a study released last week of industrial buying and selling behaviors. However, many industrial suppliers have yet to catch up by making sure potential customers can find their sites and providing the kind of information buyers are seeking.

Sponsored by Google and ThomasNet.com, a Web site for industrial procurement, the nationwide study of more than 900 industrial purchasers and suppliers revealed that buyers are increasingly turning to the Internet and bypassing offline sources such as distributors' catalogs, trade publications and sales representatives when searching for products and services and where to buy them. But it's not all good news for industrial sellers who are already online. If potential buyers find the supplier's Web site online, they're likely to find the information lacking. According to the study:

70% of buyers expect to find detailed information on product applications and uses, but only half of all sellers' sites (53%) provide it;

58% seek CAD drawings and plans, but a minuscule 13% of sellers make them available online,

74% expect to find product prices, but only 23% of company Web sites offer them; and

67% want to see shipping information and costs, but fewer than 17% of suppliers provide this on their sites.

"Industrial marketers need to address the quality and specificity of the information they make available so they can start to turn more of their Web site visitors into customers and gain a real competitive edge," said Eileen Markowitz, president of Thomas Industrial Network.

If there's one motivation for industrial suppliers to focus on their Internet marketing strategies, it's that online sourcing by buyers translates directly to buying actions. According to the survey, 97% of buyers who researched or compared products online took further action either online or off, including requesting a quote, issuing a purchase order or recommending or selecting a new supplier, product or service for their company based on their online experiences.