Based in Farmington, Connecticut, this privately held company has about 15,000 square feet of manufacturing space and another 10,000 feet of warehouse space. They sell about 55 percent of their products directly to Original Equipment Manufactures (OEM) and about 45 percent through 30 or more distributors. And, because Paneloc is so diverse in what they sell and to whom they sell, the company is nationally recognized as a preferred source for quick-operating fasteners, hinges and latches.
Challenges: Establish Qualified Leads and Grow Product Lines Through the Web
Paneloc Sales and Marketing Manager Jerry Berger knew the company’s products inside and out from his 25 year tenure with the company. He was heavily invested in taking the company to the next level. Mr. Berger wanted a more robust marketing strategy that would more than keep the company competitive, but would grow it. His roadmap for growth was to establish qualified leads and to take a smarter, savvier approach with his website to grow existing product lines.
Specifically, Paneloc wanted to grow several lines that their competitors also sell, including spring latches and spring releases. However, Paneloc’s print literature and outdated website were ineffective. The company wanted to better serve its customers, and reach new prospects that source online, by sharing detailed product information in an easy to use format online.
“Our website had the bare minimum, and lacked essential information to attract and retain customers. We needed to make it stronger,” said Mr. Berger.
From Chevron to Club Car, design and mechanical
engineers to purchasing agents, to distributors, all wanted an easy, online way to locate spring, latch and other hardware drawings to incorporate into their own designs, around the clock. Yet Paneloc did not have this functionality. Instead, Paneloc’s sales team relied on print catalogs, often having to copy and fax pages to the prospect. With only two full-time sales employees and six reps across the country, this consumed valuable time, and ultimately led to missed sales opportunities.
Solution: Making Product Information Available in Any Format, at Any Time To surface more qualified leads and expand his product lines, Mr. Berger sought a marketing partner that not only understands the industrial space, but also has the technological savvy to present his product information to customers in any format. He turned to his ThomasNet’s sales representative to deliver.
ThomasNet’s team worked hand-in-hand with Mr. Berger to identify key information about the hundreds of latches, hinges, and fasteners Paneloc manufactures and distributes. They created an online catalog with CAD drawings available. Having CAD drawings online gives engineers who come to Paneloc’s site the ability to access models and instantly insert them into their product specs.
“We have heard from many engineers that this feature is great,” said Mr. Berger.” They love that they don’t have to spend time re-drawing, and we love that we don’t have to waste time on the phone.” The feature makes customers more inclined to purchase the product.
ThomasNet’s CAD Solution is compatible with all CAD software (SolidWorks, AutoDesk) and is easy to access too – either by clicking the navigation bar on the homepage, the CAD logo at the bottom of the homepage or in the product description page.
Another one of Mr. Berger’s favorite functions is the Compare Function that lets prospects evaluate up to five items at a time, side-by-side. Multiple calls to action are available throughout the site. Prospects can click straight through to a Request for Information (RFI), or go straight to the shopping cart to make a purchase.
“We sell to just about anyone, and we want to
give our customers a variety of options,” said Mr. Berger. “The RFI/RFQ and shopping cart features allow us to do this effortlessly, and makes business happen much faster.”
Results: Double-Digit Growth Year After YearPaneloc’s new website has been indispensable for the company to attract more qualified leads and grow several product lines. “Once we started with ThomasNet, we saw our revenue increase by double digits year after year,” said Mr. Berger. “Both the online catalog and CAD Solution have been extremely instrumental to that.”
The company has expanded its spring latches, spring releases, heavy-duty latches and slam latches lines in the automotive and technology markets. In fact, some lines have grown from zero to $1.7 million in four years. New customers include such powerhouse companies as Chevron, Dell, IBM and Mickey Truck Body.
In the past year Paneloc has averaged 100 CAD downloads per month.
“This number is amazing,” said Mr. Berger. “For any manufacturer like me who depends on CAD drawings in their selling process.”
And the momentum does not stop here. For 2008 there were 10,352 total catalog user sessions – which means Paneloc averages over 1,000 users per month. And the traffic seems to be growing, as 3,827 people viewed the catalog in January 2009. It’s not surprising that Paneloc has welcomed 60 new customers in the past year
“The online catalog was critical in bringing us business from ExxonMobil, Boeing, Texas Instruments, Northrop Grumman, BAE Systems, Proctor & Gamble, Home Depot, Bose, MIT and Amazon.com. It has also saved our sales and engineering departments about 10 to 15 percent of their overall time,” said Mr. Berger. “This is time which used to be spent on answering calls, copying and faxing catalog information.”
Additionally, the company tracks who visits the site and what they download. “This reporting capability has reinforced that we’re going in the right direction,” said Mr. Berger.
“I would recommend ThomasNet’s solutions to anyone,” said Mr. Berger. “Those who don’t take advantage of their products are simply foolish.”
If you are interested in learning how ThomasNet can help you achieve similar success and grow your business, click here or call 1-866-585-1191