Where do you stack up? The Manufacturers place in Ecommerce
KYKLO understands the nuances of e-Commerce. We have assisted distributors in pushing their efforts forward literally around the globe. Pulling on the old axiom, distributors are “middlemen”, we have evaluated the needs of customer segments, sizes, and buying influences. Determined to continue our journey, we decided to take a deeper look at the distributor’s other partners role in the digitalization process.
Applying a scientific process, we began evaluating the positions of a select group of manufacturers. Our discovery? Manufacturers range from great to dismally ill prepared for the future.
Introducing The Manufacturer Omnichannel Index. The detailed methodology accesses the following six critical success points:
1. Share of Voice – The SEO component of the manufacturer’s website. Can a customer hear your message on an internet where hundreds of others seem to be shouting at the top of their lungs?
2. The Home Page – Does your front door portray what you might expect from the company?
3. Discovery -– How many clicks does it take to get to a product? Can users search for keywords and specifications and receive search suggestions along the way? Are you able to filter search results based on technical attributes?
4. Advanced Discovery – Once on the website can customers find precisely what they need? Are there product comparators, configurators, and other tools to help a confused customer make the right choice?
5. Product Content – Does your website provide all the data needed for a selection? Are there pictures, the right specifications, dimensions, and electrical/mechanical properties to really make the right selection?
6. Conversion – Does your site actually encourage a customer to buy? We all have competitors, and some may have products nearly as good yours. Why should they select you over one of the other guys?
Harnessing the Judgement of Experts The Manufacturer Omnichannel Index applies not only algorithms but also includes the expertise of KYKLOs team of Senior Engineers. This select group has the unparalleled experience of having developed enriched product data for over 2.5 million SKUs in the electrical and automation space. They know products, what it takes to attract customers, and the environment needed to drive conversions.
Comparing 100 Manufacturers Benchmarking is a time-honored business practice. It is not enough to know where your company stands, you need to know how you stack up against others. In the digital world, companies are not compared against the guy across the street, down the road, or even in companies in the same industry. The comparison is universal.
We created the index with a hand-selected group of manufacturers who are partners or competitors of partners of our client base. A global mix of companies like Schneider Electric, Rockwell Automation, ABB, Mitsubishi and Festo were selected. Quite honestly, the list is a who’s who of the automation industry. In case you are wondering, one point became exceedingly clear, size of company is not necessarily an indication of performance on the Index.
A sneak peek at the results: A full 75 percent of these leading manufacturers do not have individual product pages on their websites. This is a big deal. Customers do not search for product families, instead they want to receive the full information on the products considered. This leads to customer frustration, and it could be surmised at least some customers go elsewhere.
Even more surprising, 95 percent of these manufacturers have a search engine geared toward product/brand names rather than keywords. New customers, or at least those unfamiliar with your brand struggle to find what they need without keywords. This seemingly small blunder costs the manufacture important leads.
Here is a point to ponder, 90 percent of manufacturers have less than half of their published US price list searchable on their website. We are not referring to prices, instead it is about products listed. Cross checking products on the price sheet against products detailed on the web, we find amazing gaps. Over half of products which are clearly available and for sale receive no mention online. Experience dictates a “long tail” of products attract customers. When manufacturer organizations fail to deploy and maintain their full product offering on their digital portal, new business suffers.
Wondering how you scored? We would like to share your organizations performance on the Manufacturer Omnichannel Index. We can demonstrate how you might improve your score and, more importantly, open the door to new customer opportunities and greater growth.
Give us a call!