ThomasNet Launches Purchasing Tools

ThomasNet has partnered with Source One Management Services LLC, a procurement service provider, to offer free purchasing tools for ThomasNet users. This new feature, ThomasNet's Purchasing Tools, will provide ThomasNet.com users with free access to request for information/proposal/quote (RFx) and reverse auction tools. This will enable buyers who don't have purchasing software to make their purchasing processes more efficiently. Source One CEO Steven Belli said in a company press release that user efficiency can be increased by 30 percent or more because of the tools.

According to ThomasNet, users can access the desktop tools for free and can incorporate them into their daily purchasing processes without training or the need to support software systems. Buyers who register on the MyThomas section of the ThomasNet site can access the tools.

How it works: Buyers use the tools to create and send requests for quotations and can then review and analyze sellers' information in a pre-set format. Other functionality includes single or multiple line item listings; the ability to upload unlimited attachments including specs, drawings, documents and presentations; multi-currency support; secure online storage of RFx events; and the ability to copy and re-run events in the future.

This announcement is going to make ThomasNet's advertising suppliers very happy. If it works as designed, it will make it even easier for ThomasNet users (buyers) to connect with them and make purchases. By simplifying the purchasing process, ThomasNet will make it a more appealing process as well, thus turning potentially hesitant buyers into actual buyers.

If anything, the improved functionality that these new tools represent will attract more users to the site overall.

SQAD To Launch CPM Tracking Service

Media forecaster SQAD announced it will launch its first Internet-oriented service, WebCosts, which will provide advertisers an average CPM per web property. SQAD will anonymously collect pricing data from advertising agencies and clients and use the data to calculate an average cost-per-thousand view for each web site. SQAD says that the data could serve as a negotiating tool for advertisers and publishers.

SQAD expects the service to officially launch during the third quarter of this year. The company already offers a similar service geared toward the broadcast media.

SQAD's goal with this new service is to create an industry standard that serves the buy and sell sides of the online advertising community. It expects to build an environment that will generate greater Internet advertising buys and provide a comfort level for both advertisers and publishers.

This is a rather ambitious idea, and will be interesting to see how the marketplace responds. Metrics, in general, are so crucial, and oftentimes difficult to get. If SQAD's solution can accurately provide relevant metrics for advertisers, it will garner considerable interest over time. But these can be tricky numbers to grasp. We'll have to wait and see how this initiative develops.

LinkedIn Expanding Into Europe

According to several media reports, social networking site LinkedIn is expanding its U.S. operations into the European market. LinkedIn apparently got the http://linkedin.co.uk domain recent made a hire to run advertising sales in its London office.

Part of LinkedIn's international expansion strategy is to bolster its targeted advertising program and promote is new product geared toward recruiters. Recruiter, is a collaborative human resources system that LinkedIn launched in February. It enables recruiters to search user profiles of individuals who have opted-in to such searches.

It's not surprising that LinkedIn is positioning itself for global expansion. It has already made such a strong impact in the U.S. market, that it's undoubtedly ready for more. The only real surprise is that it has taken this long for LinkedIn to make the international move.

Unlike its main competitors in the social networking space, MySpace and Facebook, LinkedIn appeals to a more professional audience--one that is most likely global in nature, or interested in networking on a global scale. Moving into London makes perfect sense since it doesn’t require translating LinkedIn's current site, making such an expansion rather quick and seamless. However, it won't be long before LinkedIn makes it way around the globe.

Using a Database as a Market Research Tool

Global market intelligence solution provider GMI (Global Market Insite Inc.) has partnered with online IT media company TechTarget to provide market research professionals access to a worldwide community of IT professionals and decision-makers. GMI built, manages and operates the TechTarget IT Research Panel, which consists of a double-opted in panel of IT professionals who actively participate in online research.

By tapping into the knowledge of these professionals, market researchers will be able to obtain insights into their buying trends and decision-making processes for their purchases. They can then use that information to determine what products and services they can and should offer in the market.

To create the panel, the companies reached out to TechTarget's proprietary database of more than 6.6 million registered users. Of that group, more than 2.2 million corporate IT professionals have singed on to participate in the online market research.

GMI is putting some protocols in place to ensure that the market research professionals receive quality information from the survey panelists. For instance, email invitations are only sent to double-opted in panelists; and panelists are invited to double opt-in only if they pass an initial registration screen. Minimum time thresholds are in place to eliminate hasty responses. Survey takers who have provided inaccurate data in the past can be automatically blocked from taking future surveys. There is also a formal incentive program in which panelists receive points that can be redeemed for cash after they complete each survey.

Developing a targeted online market research panel is a very smart way to leverage a high quality user database. TechTarget has created such a robust database over time that it makes sense to yield additional value from it. Market research professionals would find it extremely challenging to build a panel with such qualified individuals on their own.

With this initiative, everyone is poised to win. Recipients of this research will get a better understanding of their target market, thus creating a very strong competitive advantage. The survey respondents will also benefit because they will be heard. Researchers will learn exactly what these IT professionals want--they'll hear it directly from them. As a result, the IT folks will be rewarded with future offerings of products and services that meet their specified needs.

infoUSA Changing Name to infoGROUP

infoUSA announced that it is changing its name to infoGROUP, effective June 1. According to a press release, company brass feel the new name better represents the organization's expanding global presence and long-term business strategy.

The company notes that many acquisitions, such as its Opinion Research buy, have effectively solidified infoUSA as a global company and prompted an expansion of infoGROUP's research and database functions.

infoGROUP, which is headquartered in Omaha, Neb., has offices in Canada, the U.K., Australia, India, Singapore, Hong Kong and Shanghai. The company plans to move into New Zealand and Ireland, as well as expand its current operations in Australia and other regions. It won't be surprising to see the company expand elsewhere over time, as this name change certainly demonstrates the company's commitment to further its presence across the globe.

It might take a while for customers to become accustomed to the new name, but the decision to take such a big step is certainly understandable. infoUSA has really been a global company for many years, but the name has definitely not reflected that. Branding is so key; and to be perceived as a global company in the marketplace, your identity has to very clearly communicate that. In that regard, a name like infoUSA was limiting the company's the perception that it is a global company.