JAZD Releases Research Report - Shows Oil and Gas Directories Fall Short

Andover, MA., January 1, 2009  - JAZD Markets, the leader in online B2B directory driven marketing as a service (MaaS), today released findings from a completed a study of 791 Oil and Gas executives that focus on buying the needed goods and services within their companies. Jaz’d! research clearly shows that the basic requirements for purchasing in the oil and gas vertical are not being met by current online and offline company directories/buyers guides or oil and gas content portals and that buyers are being forced to turn to vendor websites, product specific directories and general search engines to bridge the gap.
Most Valuable Resources for Buyers - rated either valuable or extremely valuable:
  1. Vendor Websites - 78%
  2. Product Specific Directories - 67%
  3. General Search Engines - 65%

Least Valuable Resources for Buyers - rated either not valuable or do not use:

  1. Oil and Gas Trade Magazine Websites - 53%
  2. Oil and Gas specific Search Engines - 53%
  3. Oil and Gas content Portals - 49%

Buyers are expecting more than the 1,000 page book that sits on the desk ear marked for the listings of companies that they know and frequent. Buyers can’t understand why such a basic online capability continues to be unaddressed by current solutions. The lack of development and perceived low user value has driven sellers to alternatives to engage buyers in meaningful dialogue. The JAZD study shows that while Oil and Gas trade publications and online content sites still have active and highly qualified readership they continue to fail to understand how to drive real value for users online other than presenting them with articles and display advertising that they are not interested in.
Key features that oil and gas buyers require from an online buying resource:

  1. Complete listing of all companies and products - not just those that are paid advertisers!
  2. Ability to sort options geographically - an alpha based listing of companies is not sufficient
  3. Side by side product comparisons with meaningful features compared - I can do it on any B2C site
  4. Downloadable product specifications and brochures - don’t make me pay or register to be a lead
  5. Get a quote with valid pricing - now I am ready to speak with a vendor

As the online world starts to embrace social and community based capabilities buyers are starting to look for the same capabilities within their B2B online resources. Similar to the basic directory capabilities listed above traditional online resources in Oil and Gas have failed to keep pace. The Jaz’d! study shows that oil and gas is ready to apply the Myspace and Facebook era in purchasing.  Albeit the pace of adoption will focus on basic buying related needs for the foreseeable future.
Social Features that Oil and Gas executives are looking for and place great value on:

  1. User generated ratings and reviews by company and product
  2. Product related discussion forums for buyers
  3. Ability to connect with other buyers and share ideas about products and vendors

At Jaz’d! we are listening hard to this very clear feedback. We will launch www.Jazdoilandgas.com in May in partnership with a leading Oil and Gas Publishing Group. It will be the first full functionality oil and gas directory in the market. The directory platform will include detailed directory functionality, complete company and product listings by taxonomy and georgraphy, audio and video media all coupled with detailed social community capabilities. The directory platform for oil and gas will finally offer both buyers and sellers in oil and gas a chance to meet all of their needs.
About JAZD Markets:
JAZD Markets is the leader in online directory driven Marketing as a Service for B2B located in Andover, MA.  JAZ’D! combines B2B directory placement, contextual display advertising, lead generation and social media marketing into an innovative Marketing as a Service (MaaS) platform where advertisers generate real value from their online marketing spend. JAZD has recently closed an $8 Million Series A round of investment in the company. The round of investment was jointly led by Commonwealth Capital Ventures and Pilot House Ventures.  

JAZ’D! operates multiple online B2B markets under the brands: jazdchemicals.com jazdenergy.com, jazdtech.com, jazdfoodandbeverage.com, jazdconstruction.com, jazdtelecom.com, jazdmanufacturing.com, jazdhospitality.com, jazdelectronics.com, jazdoilandgas.com, jazdpackaging.com where buyers can easily find and the right product/service.  
For more information visit JAZD Markets at www.jazd.net . 

Press/Analyst Inquiries:
Shannon DiGregorio
JAZD Markets
Tel: (978) 474-6611
Email:


Tags: buy gas, buy oil, buy oil and gas, energy, Jazd Markets, oil and gas, oil and gas content portals, oil and gas directories, Oil and Gas Search Engines, oil and gas trade magazines, Myspace, and Facebook.

 

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