For a large number of businesses, trade portals are no longer part of their B2B marketing strategy. This phenomenon is more prominent among midsize and large organizations. They are not only struggling with trade portals but also with their own offline and digital initiatives. Below mentioned insights highlight why B2B companies should not rely on the portals as they are no more relevant.
98% of the traffic on trade portals comes through search
Here are the top 5 reasons why:
- Smaller Ticket Size: Organizations with substantial orders have numerous vendors chasing them. It is those with insignificant order size, they use an internet search to reach out to the providers.
- No competitive advantage: Being a part of a listing that is overcrowded, and sharing the same space with other providers doesn’t showcase any differentiating factor. What is required is a technique where you can communicate one-to-one with a large enterprise to showcase your USP.
- Higher cost for prominent positions: Even to get these leads, one has to be in a prominent position on the listings, which certainly comes at a higher cost and yet doesn’t guarantee desired results.
- Annual commitments: Most portals require an annual commitment that not only incurs a high investment but also ties you up for the entire duration irrespective of the outcome.
- The unpredictability of the traffic: Since Google’s ranking keeps changing, it may happen that your business listing doesn’t rank anywhere for a long duration leading to no traffic and no leads.
The fact that 35 percent of the businesses that registered on these trade portals in the last 3 years are no longer advertising comes as no surprise. Maybe it is time that B2B businesses explore other alternatives. B2B Marketing using MatTech could be one of them.