At EngNet we have a mission, “Make finding suppliers in industry easy and efficient”. We thought it would be a great idea to ask industry buyers and engineers that source equipment what they thought on the matter.
Using an online survey we asked.
Where do you go when you are looking for new suppliers of equipment or services in the industrial marketplace?
How do you find new suppliers?
In the chart below we have the results. Where the engineers selected “Always” or “Very Likely” we counted them for that sourcing method.
Search Engines are the number one method used to source new suppliers, with Industry Directories and Search Engines taking second place.
What I find interesting is that many companies are still spending more on Tradeshows and Trade Magazines than their website or search marketing. A tremendous shift has occurred in marketing over the past decade, but we still find companies sticking to strategies that probably need re-evaluation.
Tradeshows continue to play an important role; they provide an opportunity to meet with clients, partners and prospects. They also allow you to showcase your products to a targeted audience. The opportunity is limited in reach and time; you only have a few days to make it work before waiting for next year.
There is no reach or time limitation on digital marketing. Anyone with a smartphone to reach your message at any time or day of the year.
My recommendation is to start looking at opportunities to market your company that go beyond strategies that most companies do. There are many strategies that allow you to reach a targeted audience when they need you most.