SpendLead Facilitates Buyer / Seller Interaction, in a Controlled and Effective Manner

A few weeks back, we announced the launch of Spend Lead, the new firm set up by Fabrice Saporito, previously CEO of Sievo. As we mentioned then, Jason Busch and I have taken a (very) small equity stake in the firm, so we should declare out interests. But we hope our readers will interpret that more than anything as a sign that we really think Fabrice has hit upon a very good idea that should help both buyers and sellers.

The “pilot” product has been used and tested now by over 100 organisations – and our sincere thanks to our friends and Spend Matters readers who have registered as users to date. Now, Fabrice and the team have launched the “beta” website, easier to use and with additional features.

The core premise of SpendLead is “find and be found” – it combines element of search, marketing communications and social media to link up buyers with potential (and actual) suppliers, and allows the marketers to provide useful information to buy-side folk, in a controlled manner.

So suppliers register which markets and geographies are interesting to them, and buyers similarly register their categories of interest. Buyers then receive short notifications when a supplier has something interesting to communicate – a new case study, product information, a webinar or workshop perhaps.

The buyer decides if they are interested and if so, can then initiate a contact with the supplier – or simply have a look at the material and stay anonymous. So this won’t lead to being bombarded by sales calls! But it will provide a route for buyers to keep on top of what is happening in their markets and categories, through a simple, easy-to-use, single platform. And of course it enables suppliers to target better the right people who are likely to be interested in what they have to offer.

We will have more about the benefits we perceive for buyers shortly, but we would be delighted if more procurement professionals would now sign up (free of course to the buy-side), and even more delighted if you would invite your suppliers to participate too. That’s important – clearly, this is going to take a bit of time to really hit critical mass (I guess the parallel is the first person to sign up to Facebook thought “there’s nobody I know on here” – and the first person to get a fax machine wondered what the point was!). So users who (like us) feel this is a good idea and can have real value are needed; people who can help build it into a useful tool.

To support that, we’re helping Fabrice think about some of the other benefits and support to the procurement profession that SpendLead can provide – we will come back to that later too. But for the moment, do take a look at the site, and give it a try if you feel it could be useful!

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