Get Noticed When Industrial Buyers Are Looking for New Suppliers


When industrial buyers and specifiers are on the prowl for products or services, history usually repeats itself as buyers most often turn to those they have dealt with before — as long as competitive prices, high quality and solid service are provided. This should not come as much of a surprise, as most of us are more comfortable making purchases in our daily lives from companies or people we have some previous positive experience with.  But to gain new customers — as growth in the industrial marketplace is often dependent upon new customer acquisition — manufacturers and service companies must understand three things:  where buyers look for new suppliers, how they evaluate potential vendors and what motivates them to make contact.

To shed some light on the dynamics of the industrial purchase and supplier selection processes, the two most recent Industrial Purchasing Barometer surveys (May and June 2006) focused on this issue. The good news is, if you're on a buyer's supplier list, you're likely to stay there unless your pricing or quality changes.  Nearly 90% of industrial buyers said they do the majority of their purchasing from suppliers with whom they have previously done business or had contact. 

If you're not on their list of known suppliers, the bad news is obvious — getting on a buyer's radar is a challenge. However, the silver lining is that 36% of buyers seek new suppliers for a majority of the purchases they make, giving you many opportunities to make an impression and get on that "known supplier" list. Buyers are open to the prospect of purchasing from a new supplier. It's up to you to make sure you've got what industrial buyers are looking for so they can find you — and buy from you.

The Search for a New Supplier
So what is a supplier to do?  First, consider what a customer looks for from a new supplier.  Of course, competitive pricing, good customer service and high quality are a given, but the next single most important thing buyers mentioned is a detailed, user-friendly Web site.  As 71% of buyers said they first look online when searching for a new supplier, your Web site can make the difference between getting an RFQ or getting passed over.

Once a buyer finds you online, he or she'll quickly make a judgment on your suitability as a supplier for his or her company based on what can be found on your Web site.

 

What Industrial Buyers Expect From Your Web Site

"Have complete Web sites that are easy to navigate. Don't make me jump through hoops to get the info I need to buy!!!"

"Clear, well-organized information. Having to go through several screens to find what I am looking for is not only time consuming, but frustrating."
 
"Provide enough information within their Web site for me to make an educated decision — comparative product details, listed prices, and list of distributors that I can purchase from if they don't sell direct."

"Clear indications of service and support.  I still find sites that do not have phone numbers to contact. Needless to say, they get bumped off my list at that point."


Once a buyer has found you online and you've impressed him with your Web site, there's a good chance you'll stay on his list and be elevated to the coveted "known supplier" status. In fact, 66% of buyers have bookmarked a new supplier's Web site after finding them on ThomasNet.com, and 59% have recommended them to a colleague.  ThomasNet offers a range of Web site solutions including online searchable catalog services for industrial suppliers to help them make the successful transition from "new supplier" to "known supplier."

How to Move From "New" To "Known" Supplier 

10 Things Buyers Look For In a New Supplier

1.  Easy-to-navigate Web sites with accurate, detailed product and pricing information
2.  Companies that are easy to find and have a strong Web presence
3.  Quality product and competitive pricing
4.  Prompt responses to questions and RFQs
5.  Free, real-time customer service and technical support
6.  On-time delivery
7.  Honesty about capabilities, pricing, product availability
8.  Understanding of their business and purchase cycle
9.  Sufficient inventory to respond to product requests
10. Good follow-up and after-sales service