If you’re looking to source suppliers for your business, you may already be familiar with traditional supplier search methods such as trade shows and online directories.
However, there is a vast pool of potential suppliers that you may be overlooking – LinkedIn.
With over 700 million members worldwide, LinkedIn has become an essential platform for professionals across industries to connect, network, and showcase their skills and products.
But how do you find these suppliers?
To search for suppliers on LinkedIn, you can utilize its robust search features and filters. By entering relevant keywords and applying specific filters such as industry, location, and company size, you can narrow down your options.
It may sound like a lot if you’re not already used to using the platform. However, this blog post will explore the strategic process of searching for suppliers on Linkedin, including how to optimize your search strategy, use filters effectively, and leverage Linkedin’s features to your advantage.
LinkedIn works
Before I go technical and start giving you great tips to help you with your search for suppliers, let me step back and talk numbers.
LinkedIn has over 700 million members and is responsible for 97% of a business’s social media leads!
So, LinkedIn does work for getting suppliers.
All that remains to be done is to leverage LinkedIn in the best way possible. These tips will help you do just that.
Know What You Are Looking For
Before you start your search on LinkedIn, you need to have a plan of action.
Take a moment to assess your business’s specific needs. What products or services do you require from a supplier? Are there any quality standards, certifications, or industry regulations that your suppliers need to meet?
By defining these requirements, you’ll have a solid foundation for your search.
Next, identify the key criteria that will guide your supplier selection process.
Consider factors such as reliability, reputation, pricing, product quality, delivery times, and customer service. These criteria will serve as your compass as you navigate through the LinkedIn supplier landscape.
it’s just like creating a buyer persona for your business, so remember that every business is unique, and what matters most to you may not hold the same weight for others.
Doing Your Research
Now, let’s explore how to proactively find your prospects on LinkedIn.
LinkedIn’s advanced search feature is a game-changer in identifying the exact type of suppliers you’re targeting.
To access it, simply click on the search icon in the LinkedIn header menu and select the advanced option.
Even without an upgraded LinkedIn membership, you have access to powerful filters that allow you to refine your search.
The true gem of Advanced Search lies in the ability to help you narrow down your search by location, current company, industry, past company, profile language, and nonprofit interests.
The results you get are highly focused, enabling you to connect with the right people. The best part is that you can continue filtering without starting from scratch, saving you time and effort.
These search filters are invaluable because they instantly show you how adjusting them will impact your initial search results. This provides insights into which companies or areas might be more fruitful for your prospecting efforts.
However, keep in mind that the size and quality of your personal network play a crucial role in finding these suppliers. The most promising leads from the advanced search tool often come from individuals with whom you already have connections at the first, second, or third level.
Later on, we’ll explore how to develop and leverage these connections.
Group Search
Another approach to finding supplier leads on LinkedIn is by searching through Groups. While searching for individuals is a detailed and granular approach, exploring Groups offers a different avenue to discover potential suppliers.
As t 2021, there are approximately 2,058,816 groups on LinkedIn, giving you a high likelihood of finding a group within your specific niche.
One effective way to uncover clusters of suppliers is by conducting a group search using relevant keywords related to your industry.
Although group searches don’t provide the same advanced filtering options as people or company searches, you can still narrow down your results based on relationship level, category, and language.
When searching for groups, look for those with the following characteristics:
- Highly Relevant: The group should closely align with the suppliers you’re seeking.
- Active: LinkedIn ranks groups based on their level of activity. Pay attention to the activity level displayed in the search results and select groups that are labelled as “very active.”
- Medium Size: Avoid getting lost in a massive group where your presence may go unnoticed. Similarly, joining a group with too few members may not provide sufficient networking opportunities. LinkedIn allows you to join up to 50 groups, so choose wisely.
By identifying and joining relevant and active groups, you can participate in discussions, share insights, and nurture suppliers within these communities. Engaging with fellow group members presents opportunities to establish relationships and potentially discover new suppliers for your business.
Save Search
Once you’ve put in the effort to create a highly specific and targeted search on LinkedIn, it’s essential to save it for future use.
Saved searches play a crucial role in maintaining an active prospecting strategy. You understand that generating supplier leads requires ongoing effort rather than a one-time activity. Consistency is key to ensuring a steady pipeline of potential suppliers.
To save your search, simply navigate to the upper right corner of the advanced search page and look for the “Save search” option.
By creating a saved search, you not only have the ability to access that precise search again with ease, but you can also set up alerts.
It’s important to note that, without an upgraded subscription, LinkedIn allows you to save up to three searches.
How to Develop and Leverage Your Connections to Find Suppliers
Maybe you don’t have to search for suppliers; they can come to you themselves. You can turn your strategy from an outbound to an inbound strategy that helps you draw in suppliers interested in working with you.
Optimize Your LinkedIn Profile
Your profile is basically your virtual business card, so you should always ensure it represents you and your business in the best possible light. Here are a few profile optimization tips
- Make sure your profile information is accurate and up-to-date.
- Choose a professional profile picture and logo that portrays you and your business in a positive and approachable manner.
- Craft a compelling headline that highlights your role and expertise, and write a well-crafted summary that showcases your unique selling points and industry knowledge.
- Incorporate relevant keywords throughout your profile, especially in your headline, summary, and experience sections. This makes it easier for suppliers in your industry to find and connect with you.
Publish Content
LinkedIn has a powerful content publishing platform, and if you’re serious about establishing B2B relationships, you need to be using it.
By creating quality content, you draw in suppliers interested in what you have to offer.
There are two ways to do this effectively—by posting both as an individual and as a company.
Publish industry-related content on LinkedIn to establish yourself as a thought leader and expert in your field.
This will expand your network and increase your visibility within your industry, making it easier to find suppliers.
Engage with Connections and Seekin Recommendations
Your existing LinkedIn connections can be a valuable resource in your supplier search journey. Engaging with them and seeking recommendations can provide you with insights and referrals to reliable suppliers.
Start by reaching out to your LinkedIn connections and expressing your interest in finding suppliers. Let them know about your specific requirements and ask if they have any recommendations.
Personalized messages are more likely to receive a response, so take the time to explain why their input is valuable to you.
When requesting referrals and testimonials, be clear about the type of suppliers you are looking for.
Provide details about your industry, specific products or services needed, and any specific criteria or qualifications that are important to you. This will help your connections provide more targeted recommendations.
Remember to reciprocate when seeking recommendations. Offer your help or expertise in return if your connections are in need of any assistance. Building mutually beneficial relationships strengthens your network and encourages others to assist you.
What Do I Do After Finding The Right Supplier?
Initiate Direct Communication with Potential Suppliers
Once you have identified potential suppliers on LinkedIn, it’s time to initiate direct communication. This step allows you to gather more information, assess their responsiveness, and evaluate their suitability for your business.
Here are some tips to make your communication effective and personalized.
- Crafting effective clear messages about your business needs and requirements. Highlight any specific criteria or qualifications you are seeking in a supplier. Keep your message concise yet informative to capture their attention.
- Research the supplier beforehand to demonstrate your interest and knowledge about their business. Mention specific aspects of their products, services, or industry involvement that caught your attention. This shows that you have done your homework and are genuinely interested in working with them.
- During your communication, be proactive in asking relevant questions. Inquire about their capabilities, lead times, pricing, and any other factors that are important to your business. This helps you assess their responsiveness and the level of detail they provide in their answers.
- Remember to maintain a professional and courteous tone throughout your communication. Promptly respond to any inquiries or requests for additional information they may have. Building a positive rapport from the start can set the foundation for a successful supplier partnership.
Initiating direct communication allows you to gather essential information and evaluate potential suppliers on a more personal level. By crafting effective messages and personalizing your approach, you increase the chances of establishing meaningful connections and finding the right supplier for your business needs.
Evaluate and Shortlist Suppliers
This involves developing a supplier evaluation matrix and comparing the candidates to select the most suitable ones for your business.
Developing a supplier evaluation matrix helps you assess suppliers objectively and consistently. Identify key criteria that are important to your business, such as quality, pricing, delivery capabilities, customer service, and sustainability practices.
Assign weightage to each criterion based on its importance. This matrix provides a structured framework for evaluating and comparing suppliers.
With the evaluation matrix in place, carefully compare the shortlisted suppliers. Review the information gathered during your research, direct communication, and evaluation.
Consider factors like their industry experience, track record, responsiveness, and alignment with your specific requirements.
Engage in further discussions with the shortlisted suppliers to clarify any outstanding questions or concerns.
Request samples, product demonstrations, or site visits if necessary to gain firsthand experience of their offerings. This allows you to validate their capabilities and assess their compatibility with your business.
Ultimately, select the most suitable suppliers based on your evaluation and the criteria established in your supplier evaluation matrix. Consider both qualitative and quantitative factors to make a well-rounded decision that aligns with your business goals and requirements.
Remember that supplier evaluation is an ongoing process, and it’s essential to regularly assess their performance once the partnership is established. Maintain open communication channels, provide feedback, and address any issues that arise promptly. Building a strong and collaborative relationship with your suppliers is crucial for long-term success.
Establish Relationships with Chosen Suppliers and Cultivating Long-Term Partnerships
Once you have selected your preferred suppliers from the shortlisted candidates, the next step is to establish strong relationships with them and cultivate long-term partnerships. This involves negotiating terms and agreements, as well as fostering collaboration and mutual growth.
Negotiating terms and agreements is an essential part of the supplier relationship establishment process. Clearly communicate your expectations, such as pricing, payment terms, delivery schedules, and quality standards.
Be open to finding mutually beneficial solutions that align with both parties’ needs. Negotiations should be fair, transparent, and aimed at establishing a solid foundation for collaboration.
However, building successful supplier relationships goes beyond just negotiating terms. It requires cultivating long-term partnerships based on trust, transparency, and collaboration.
Regularly communicate with your suppliers to keep them updated on your business needs and any changes in requirements. Provide constructive feedback and be receptive to their suggestions and insights.
Invest in building a collaborative and transparent relationship by fostering open communication channels. This includes promptly addressing any issues or concerns that arise and working together to find solutions.
Regularly review performance metrics and Key Performance Indicators (KPIs) to ensure both parties are meeting their commitments and continuously improving.
Furthermore, explore opportunities for joint initiatives, such as product innovation, process optimization, or sustainability initiatives. Collaborating with your suppliers can lead to shared successes, cost savings, and competitive advantages for both parties.
Conclusion
While the conventional advice of joining and being active on LinkedIn is a good starting point, it’s crucial to go beyond the basics and employ advanced strategies for optimal results.
By optimizing your LinkedIn profile, leveraging advanced search features, saving searches, and exploring relevant groups, you can cut through the noise, identify qualified suppliers, and nurture valuable connections within your industry.
Embrace these advanced strategies, adapt them to your unique business needs, and watch as your LinkedIn presence becomes a catalyst for the growth and success of your business.
