Posted on : Thursday 16th May 2019 02:20 PM
What is the reason of marketing in manufacturing? Many companies don't have a product that they can sell through the click of some advertisement mainly because there are way too many specifications involved — so why even spend the money to set up the ad? These sentiments are shared by the manufacturing industry as whole and particularly by those that might own or work for a smaller manufacturer with limited resources. The concept of spending money to make money doesn't hold up with the generations of salesmen who drove coast to coast — in their own vehicles — to close deals on their latest product. The idea of using SEO, website analytics, conversion rates, and click-throughs to find the right customer seems needlessly stressful when you can go back to cold calling and talking to a “real person”.
I am here to share; however, the odds may not be in your favor by keeping in line with the old “door to door” sales strategy and I will share why. Firstly, we are a global marketplace. The internet and the size of the supply chain have made selling your goods a little challenging. You have a much larger competition pool than you did in the past and it is impossible to be everywhere by driving. Secondly, your customer has changed. You never know the buyer through a handshake instead through an order in an automated system where they can see product reviews immediately and up-to-the-minute pricing for their project. They are now an entry in your database (if you have one of those). Sales initiatives do not get those customers in the door the way they used too however the combination of good sales and a solid marketing campaign can.
There are numerous ways that your company can market. From traditional print advertisements to software-driven tools across many online platforms, you can essentially put your company’s name anywhere you want. However, this is not good enough to succeed. You really need to have a plan that works within your company’s long-range plan and the customers you'd like to draw. For manufacturers, this might mean that you need to sit back and formulate a real marketing strategy and put some real resources towards it. This might mean personnel and money. Have you talked about this with your team yet?
Time is considered the biggest hurdle for manufacturers regarding marketing. Many companies won’t market due to the fact they do not know where to start or how to handle it and they don’t have the time to figure it out. Maybe they have the money, but they don’t have a subject matter expert. That is okay! In point of fact, outsourcing business marketing is a very popular alternative to hiring someone in-house. The first step is just discerning what you need and then looking for the company that will best represent you in the public’s eye to build your brand awareness.
If you're undecided about whether you should allocate resources towards a marketing budget, just do your research. Start with looking at what your competitor does and then see where you want to go from there. If you have uttered the words “We have our customer base already and we are perfectly happy where are at,” then this article is exactly for you. You might feel excellent where you are at, but while you sleep at night dreaming that everything will stay the same, your competitor is putting effort towards getting their name out in front of your customer. In the long run, when prices change, or the product needs to adjust, your customer will always be looking, what company name or logo do you want them to consistently see?
This article is originally posted on manufacturing.net
Friday, 3rd April 2020
Friday, 3rd April 2020