A specification service can help manufacturers get their products specified more often. But does an annual subscription really pay off?
It’s a fair question. The return on investment isn’t always easy to express in terms of revenue. And just as importantly, what can you do as a manufacturer to get more value from your investment?
A specification service helps architects, engineers and other specifiers select the right products and systems and include them in their project specifications.
This increases the chances of your solutions being considered during the design phase. But being specified doesn’t automatically mean being ordered. Alternatives may be proposed, and sometimes the choice changes during construction.
The exact return on investment is therefore difficult to calculate. That doesn’t mean the investment has no value.
A specification service isn’t something you simply purchase and expect to generate additional revenue automatically. The return depends largely on how you use it.
That’s why we look at three factors.
How many specifiers find your specification service and use it to put together a solution? This provides insight into interest in your products and systems.
Do they use the service during conversations with architects and engineers? Do they demonstrate how easily a suitable specification can be created? And do they actively recommend the service?
A general link is a good start. But it’s even better to provide direct links from relevant product and system pages to the corresponding solution in your specification service.
That way, visitors don’t have to search again and can continue straight away. These three factors reinforce one another.
Manufacturers often invest considerable amounts in trade shows and advertising. But how many projects can be directly attributed to these activities?
Their value lies in visibility, brand recognition, personal contacts and expert advice. And we generally accept that.
A specification service offers one important advantage: you’re available at the very moment a specifier is working on a project.
At a trade show, you might meet someone who won’t need a suitable solution for another six months. With a specification service, that same specifier visits because they’re actively looking to select a product or system.
That’s a valuable moment for a manufacturer to be there.
An annual subscription to a specification service is a significant investment, especially if you assess its value solely on visitor numbers or directly attributable projects.
But what does it cost when a specifier can’t find your solution? Or when they choose a competitor who does provide a complete specification?
Of course, a specification service isn’t equally valuable for every manufacturer. Much depends on your product range, the role specifiers play in product selection and how actively you promote the service.
Behind a specification service is a database containing product information, applications and combinations of products. In fact, it’s already the beginnings of a Product Information Management (PIM) system. So why use that information only to generate specification texts?
The same data can also support other services, such as product selectors, calculation tools, technical advice on your website or information for BIM applications. Of course, this may require additional data or functionality, but the foundation is already there.
The return on a specification service depends not only on how much you use it, but also on what you do with the underlying product information.
Want to know more? Feel free to get in touch. We’d be happy to discuss the possibilities, starting with your specific situation.
