On the 1st of July 2019, Apurve released the medical Distributor Apruval Report, which ranked the top enterprises in the medical distribution dominion in terms of their B2B eCommerce performance.
HDSupply.com scored the first place for the second consecutive year in a row & was followed by American Medical Depot & Thermo Fisher Scientific, respectively. This year’s report is unique in terms of encompassing indicators that imply how companies had performed with respect to each other the last year, & also has added some contenders that weren’t included in 2018.
As stated by Matt Osborn, Director of Marketing at Apruve, medical distribution industry is unique as there isn’t much variance in terms of the performance ratings & the entire industry has very similar eCommerce strategies for accomplishing online sales. To quantify & unveil the large growth opportunities that can be successfully employed to differentiate a particular company from others; Apurve releases the industry-specific reports each month.
The annual industry report published includes key insights as follows:
- 38% of the vendors facilitate buyers to order in bulk amounts
- 22% of the companies possess a considerable number of online reviews
- 16% of the websites have provided an application for an online credit – for the new prospects
- 14% of the companies offer a mobile app for ordering
- 30% of the companies offer digital invoicing
The companies were evaluated & ranked on the basis of the following main criteria:
- User experience & Usability (Quality of product images on search pages, bundle options available, ratings & reviews present on the product page, availability of cart option & responsiveness to customer queries &/ grievances)
- Marketing & Shipping (Product & service marketing methods, Search engine rankings, Applications for mobile, availability of multiple shipping options, deals available on shipping & ease of re-ordering the products)
- B2B Product needs (Dealer channels with search functionality, options to store credit cards, advertising volume discounts, whether or not offering finances for purchases, the PO & invoices available online)
The rating scale categorized companies as superior, sufficient & average on the basis of their scores, as follows:
1. A score of above 200 points stands for “Superior”:
At a score of above 200 points, the companies were to be considered as serving their B2B customers with exemplary website experience. This rating would also mean that companies provide their customers with multiple options to choose from, before making a buying decision & also provide ample product information to the existing customers as well as the prospects.
2. A score of 175-199 points implies “Sufficient”:
Companies scoring between the range of 175 to 199 on the rating point scale were considered as those providing their customers with adept website experience; however, they were missing some of the B2B dominion essentials, as to ease of checkout or flexibility in terms of financing options available.
3. A score of below 174 points means “Average”:
A score of below 174 on point scale was considered critically average, with obvious implications that B2B prospects might find the website navigation difficult which will make their buyers’ journey a bit daunting.
In the process of securing the first rank, HG Supply Facilities Maintenance scored 199.7 points in total.
Insights from the report:
The competition in the Medical Industry is fierce & astonishingly each company ranked closely enough, with negligible demarkation of points among top competitors. The data also established that customer acquisition, engagement & conversion strategies are pretty much the same throughout the industry.
The ones performing the best in the report are incorporating actively investing in Search Engine Marketing (SEM) to be easily discovered by their audiences. Also, optimizing the users’ experiences (UX) by omnichannel marketing helps in optimizing website conversions.
Some of the best ranking companies require the users to log in to find details about pricing. While this might be a good strategy for existing customers & customers at the bottom of the hypothetical sales funnel; essentially asking every user on the website to fill up a form, in order to get any information on pricing, may deteriorate the quality of experiences for the users (who might still be in the awareness stages of their respective buying cycles).
It is, therefore, imperative for marketers to make their eCommerce websites friendly to be discovered by search engines, as well as an effective tool for managing the orders placed online. Some of the top-ranking distributors in the report have unveiled ways to meet their B2B needs in a rationalized way, which is expected in an ideal online setting.
Apruve is a B2B credit network that allows B2B manufacturers, wholesalers as well as distributors to expand the realm of their lines of credit to drive B2B sales & revenue. The company, founded in the year 2013, is headquartered in Minneapolis, MN & specializes in credit management, A/R automation, B2B e-commerce & invoice financing. It is backed by some of the leading Fintech firms including TTV Capital & Allegis Capital.
About HD Supply:
Founded in the year 2007, HD Supply happens to be one of the largest industrial distributors in North America. This industrial distribution specialty firm has its headquarters at Atlanta, Georgia & is known to provide an array of product & value-added services including Jobsite delivery to customers, direct shipping options, diversified logistics & other innovative solutions contributing to customers’ success.
The company has 220 branches & 44 distribution centers across Canada & U.S.A & about 5, 00,000 customers. HD Supply Facilities Maintenance and HD Supply Construction & Industrial White Cap are the pioneer units of HD Supply.