One 2020 Resolution for Electronic Component Suppliers: Expand Your Buyer Market
The idea of expanding your consumer base should be far more than just a resolution, but especially for small-market suppliers, it certainly can resemble one. Resolutions have become something of a joke in today’s culture — a placeholder for a goal with a short shelf life and predetermined failure. Small-market electronic component suppliers who must compete with larger distributors in the digital landscape are put at an inherent disadvantage, and rather than boosting marketing budgets to find new buyers and get their inventory seen by the right pairs of eyes, they often fall back on legacy customers that are sufficient to sustain business — and little else.
Luckily, in 2020 this can change and quickly at that. The evolution of the electronics manufacturing industry has created a wealth of services and solutions that smaller suppliers can take advantage of and even the playing field.
Uploading to the Partstat platform represents one such service. As of this writing, there are thousands of manufacturers and authorized channel resellers who list their inventory on Partstat. This equates to over 56 million rows of inventory, 25 million unique parts, and over 50 billion data points. Together, they create the world’s largest free electronic component search engine and marketplace. Each part listed on the Partstat platform is available to be searched, for free, by thousands of potential customers. In the past 30 days alone, Partstat has seen nearly one million individual searches based on part number, and suppliers know that each time their inventory is searched, it will be seen by those who need it.
But the advantage of uploading to Partstat goes beyond just being found by buyers on the platform itself. More than ever, buyers are searching for the inventory they require not by checking with suppliers and distributors individually, but through search engines. That is why we designed Partstat as an open platform that enables uploaders’ inventory to be automatically indexed on all major search engines including Google, Bing, and Yahoo, highlighting it to buyers even if they aren’t using Partstat. In short, if a part number is searched on Google or any other major search engine, Partstat suppliers can rest assured that their inventory will be seen by the relevant audience.
And all of this can be done, pending an approval from the Partstat team after vetting, without adding a penny to a marketing budget. There are no fees associated with uploading to Partstat. This opens the door for even the most niche electronic component suppliers to operate in a competitive landscape and grow their market share.
In 2020, growing your consumer base can be an achievable resolution. For information on how to list your inventory on Partstat, click here.