The key to success in manufacturing
To continue to grow and survive, Manufacturing businesses and business leaders need to increase their focus on critical success factors such as innovation, refining or exploring new supply and distribution channels, establishing new business offerings, developing leaner organisational arrangements, improving processes, accessing green, clean technology, and productivity improvement. While most manufacturers see the merit in this list, they may need to understand that marketing has a crucial role in the success of each item on this list.
1. Innovation
Innovation is about more than retention and development or the latest technology. It's also about practical and efficient problem-solving and business transformation. Your marketing plan can focus on more than new sales. It can prevent customer churn. It can build a brand reputation. It can transform entrenched beliefs and behaviours. It can overcome false narratives created by your competition. It can even overcome negative perceptions from past clients. Most importantly, it can explain and promote the innovation that underpins your business's mission.
2. Refining or exploring new supply and distribution channels
Manufacturers must remember that the visibility they establish through consistent, well-planned, and executed marketing generates more than new customer leads. It also makes your company visible to those who can help you build and expand your supply and distribution channels. Providing a better customer experience
3. Establishing new business offerings
When you develop new product or service offerings and expand your reach with recent locations or distribution channels, marketing is the solution that accelerates the commercialisation of these opportunities.
4. Developing leaner organisational arrangements
Outsourcing most (in some cases, all) of your marketing requirements makes for a leaner and more efficient marketing department. It allows you to access people and resources that would otherwise be beyond your reach while increasing accountability and reducing operating costs. It also allows you to scale your marketing expenditure to match your growth goals and cash flow.
5. Improving processes
Many manufacturers place too much responsibility on sales and BDM teams to generate leads when they should be focused on customer conversion and ongoing servicing. Many marketers expect existing networks and referrals to replenish the customer lists when that's the role of marketing. Your customers' businesses have their lifecycle. Some will outgrow your capabilities or go offshore. Others will have staff or ownership changes. The same is true of your company. Marketing should be the consistent and predictable element of your business that's constantly replenishing your customer base.
6. Providing a better customer experience
Your customer experience is wider than how you handle an order, project or special request. Customer experience goes beyond transactions. It encompasses the information you provide online and on social. It includes the frequency at which your company connects through channels like email, digital and above-the-line advertising. Customers form their views through these experiences, which is why consistent marketing is so important.
7. Accessing green, clean technology
There needs to be more than green, clean technology. You need to be seen to have green, clean technology. Marketing plays a role in demonstrating your green credentials. It also allows you to show your existing and future customers your response over the long term.
8. Productivity improvement
Investing in the right marketing strategy can be the most cost-effective and efficient way to grow your business. If you have the extra capacity today, marketing can help fill that capacity. If you have a great sales team that needs help attracting the correct type of customers, then marketing can overcome that hurdle. Investing in marketing today has long-term residual benefits in brand recognition that helps develop your business and prepare it for a high-value exit.
9. Timing
Like comedy, with marketing, timing is everything. Many manufacturers go to marketing when sales have already begun to drop after market conditions have changed or after expansion plans have been implemented. Marketing is similar to adding a new staff member or equipment to the line. It takes time to plan, implement, and influence beliefs and behaviour. A Marketing plan for manufacturers implemented today can take months to generate any return.
10. Perspective
Rather than seeing marketing as a tool, manufacturers need to see it as insurance. It's a risk mitigation strategy to prevent business interruption. It allows you to do what you do best, knowing that part of your business is covered. If you view marketing from this perspective, you can better plan and resource your marketing requirements and build what can become a profit centre. In short, transforming your attitude to marketing can transform your business's performance.
