Are you still keeping the web at arm's length?
The Internet should be a critical element of your sales and distribution strategy. But many manufacturers, tech firms, and publishers mistakenly still think of the web as something separate from the “real sales effort.” They're dead wrong. Offline and online sales are intertwined. Anyone that doesn't get it will be gone within a decade
At Yeoman, we look at the integrated sales effort and organize the web into seven distinct channels, each with its own competitors, search patterns, and set of buyers. We then develop strategies for each one to ensure you are getting the most out of your online presence as part of your overall sales and distribution model.
The Internet today is a true multichannel environment that gives you multiple ways to engage with customers. But many organizations hyper-focus on one or more channels (e.g. Facebook) without fully understanding how customers actually make purchase decisions. Worse still, many don't understand that even if the customer doesn't buy online, the web still plays a major role in all purchase decisions.
The Seven Internet Channels, by Yeoman
Yeoman has recognized that there are seven major channels for online sales. These include:
- Ecommerce: Sites like Amazon, Sears, and Etsy along with thousands of other e-tail sites take in nearly $2 trillion in worldwide revenue.
- B2B and supply chain systems: This segment is responsible for the largest amount of B2B and industrial sales. It includes Ariba, Emtoris, and Global eProcure, as well as broader RFP and bidding systems.
- Referral: These systems contribute as much as 10-13% of revenue to some sites. They include 20+ engines like Shop.com and specialty systems like HomeAdvisor.
- Content sites: The web is content driven. This channel includes general content sites as well as 'managed systems' for engineering, technology, and healthcare professionals.
- Social media: Still a 'hot' topic of the day, Facebook and Twitter are household names, but this segment also includes discussion boards and private online networks and communities.
- Auctions: Auctions and reverse auctions used to be focused on consumer and general commodity sales, but this is constantly evolving. This group includes systems like eBay eBid, and OnlineAuction.
- Direct Site: Last but not least, your main website and any micro sites need to support customers, vendors, resellers and partners with best practice organization and accessibility.
Yeoman helps you understand all seven channels, making sure that you or your partners have the required sales presence in the ones that make sense for your business. True multi-channel sales. This will ultimately increase sales, margins and brand equity, giving you better control over your products and your brand image.
It’s worth looking at every channel. Trust us; worldwide internet revenue was projected to top $1.5 TRILLION in 2014.
At Yeoman, we help companies figure out where potential customers are and which systems should be leveraged to get the sale. Then we help you do the work to get there. That’s our passion.
Our 2015 Internet Sales Channel Review Whitepaper is a must-read for any manufacturer or publisher planning on building or expanding online business or introducing a new product. In it, we explore all seven of the different online channels, outlining their key features, typical customers, and execution challenges.