To achieve profitability targets over the next 12 months, nearly 80% of industrial manufacturing CEOs plan to focus on organic growth rather than cost reductions or M&A. While marketing isn’t entirely responsible for delivering organic growth, it plays a critical role in key growth enablers like innovation, pricing, and customer experience.
Manufacturers share leads with their distributors using a variety of active and passive approaches. However, once those leads leave their hands, very few know how they’re handled. How big is the problem?
Growth & Innovation, Marketing, Marketing Communications, Digital Marketing, Lead & Demand Generation, Strategic Marketing, Channel Management
Suppliers provide a variety of content to their channel partners to support growth efforts. However, not all content is created equal. Content that speaks more directly to value (e.g., customer case studies) is more effective at generating leads than content that focuses on technical specifications (e.g., spec sheets, product catalogs).
Growth & Innovation, Customer Experience, Voice of the Customer, Marketing, Customer Segmentation, Strategic Marketing, Research & Development, Product Development
If you’re a B2B manufacturer, compared to your B2C counterparts, your customers probably have more knowledge, interest, objectivity, and foresight, and there are fewer of them. For example, B2B customers can usually give you more insight into their desired outcomes.
Without product management, a company runs the risk of not growing in big, bold ways. Far too often, manufacturers’ innovation efforts yield little more than minor changes to existing products, rather than new forms of customer value.
Didn’t you get the memo? Customers don’t really want to talk to your salespeople. It’s nothing against them, really. The world has changed. Today, your buyers have made around 60% of their purchase decision before bothering to contact you.
As 2015 picks up steam, one thing is clear: “this is the way we’ve always done it” has never been a less effective response to change. Manufacturers are operating in a climate of disruptive market forces, many of which are growing at exponential rates.