SEO is Doing a (Big) Number on eMarketplace Alternatives
Date: April 20, 2011 Posted by: Del Merenda, President & CEO, i-MARK, Inc.
ThomasNet®, Kellysearch® and GlobalSpec® and others offer a level playing field product search capability to manufacturers that subscribe to their service. eMarketplaces sell their value proposition based upon the notion that b2b product specifiers and buyers will go online to search in a b2b-focused eMarketplace when needing to find components, assemblies and their suppliers. The premise of the eMarketplace business model is the belief that b2b buyers prefer a subscription-based, online source of competing sellers to locate the products they seek. While a wise tactic to list your company and products in a vertical directory, reaching today's Internet driven industrial buyer requires an aggressive and diversified online business strategy.
Search Engines Winning the Popularity Contest
The market for aggregated b2b manufacturer databases is diminishing rapidly because Internet search engines, such as Google®, Yahoo!® and Bing® have become far more popular with b2b buyers, rapidly replacing eMarketplaces as the search source of choice. The once strong eMarketplace selling point of offering their subscribers a 'level playing field' opportunity of being found, has been neutralized by a more effective search process known as search engine optimization (SEO). It can be said the SEO has also had a similar destructive impact on industrial trade shows and publications.
Here are three reasons that SEO has replaced eMarketplaces as the most popular source of b2b buyer product research and discovery, as also shown in (Fig. 1):
B2b buyers and specifiers realize that the most reliable and comprehensive source of up-to-date product information and innovation is best found at manufacturers' websites.
Search Engines now offer highly refined 'search term' parsing that enable b2b buyers to specify their precise need and be presented a list of well-qualified supplier matches.
Manufacturers are deploying advanced web-self-service eCatalog software on their websites that intuitively guide prospective buyers to find products that precisely match requirements, then instantly retrieve detailed product information and CAD files in their native CAD formats.
(Fig. 1) How Engineers and Industrial Buyers Use the Internet in Work-Related Purchases.
Hitting the Trifecta
Given its proven ubiquitous presence, the Internet is the unchallenged leader as the most complete and accessible single source of information in recorded history. Optimizing for search engines (SEO) and web- self-service software imbedded in websites complete the trifecta. Aggressively and creatively used by durable goods manufacturers, these three incredible tools combine to level the playing field unlike any other marketing tool, hands down. As durable goods manufacturers strategize and plan their marketing and sales programs, the Internet, SEO, and web-self-service are must ingredients. Whether serving brand-loyal, brand-neutral, or brand-unknown buyers, this investment will undoubtedly generate the greatest ROI.
Delightfully for SMB manufacturers, they have the most to gain from this strategy because the Internet, SEO, and web-self-service software are great equalizers. Given that SMBs are considerably more agile than their larger, more bureaucratic competitors; SMBs can implement highly effective, robust and affordable web-self-service software far more rapidly and start receiving their ROI much sooner.
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