Marketing For Manufacturing Companies
The manufacturing sector, which comprises a diverse group of industries such as automobiles, food products, furniture and refined petroleum products, has experienced a renewed momentum for growth. According to the National Association of Manufacturers' most recent data, manufacturing contributed $2.25 trillion to the U.S. economy in 2016.
While the sector is undoubtedly expanding, competition is fierce. Of the more than 250,000 manufacturing firms operating in 2015, not quite 4,000 were considered large. The remaining 245,000+ were considered small businesses with fewer than 500 employees. In fact, a whopping 75% of the small manufacturing firms had fewer than 20 employees.
Standing out in a veritable sea of competitors can seem to be a daunting task. An intelligent and thoroughly-researched marketing plan integrating expert analysis, a targeted distribution strategy and quantifiable objectives can be the key to success in your specialized field.
Digital Marketing Challenges for Manufacturing Companies
Although an Engineering.com study shows that industrial firms have increased their marketing budgets, nearly a third of the respondents reported struggling with inadequate resources. When available staff and funds are limited, ensuring that your marketing budget is used to produce high-quality, measurable results is imperative.
The report shows that brands focusing their marketing budget on digital marketing –primarily creating and distributing content—are top performers, seeing the most notable results in growth.
In the same vein, brands in the manufacturing sector struggle with determining ROI on their marketing expenditures. Where firms once invested in trade shows, print publications and cold calling, they must now focus on establishing an online presence and leveraging inbound marketing.
A concise digital marketing strategy, measurable goals and procedures in place to determine and track metrics can untangle this seemingly complex challenge, especially when goals are well defined.
With so much data available, B2B marketers can easily feel overwhelmed. Data sources are constantly expanding and evolving. Many manufacturers grapple with wading and sifting through analytics, market and census data, web data and data from manufacturing products.
Tools to help marketers use the data abound as well. However, a combination of the best tools working together with the right data is necessary to obtain meaningful analysis and significant insights. With the right “recipe,” you can discover what’s working (and what isn’t) and why.
Understanding the Buyer’s Journey
A framework recognizing the buyer’s progression through research and decision making, culminating in a purchase, the buying journey is often an area where manufacturing companies experience a disconnect. Customers want a product that solves a problem from a brand that they trust.
The first step for manufacturing brands seeking to address this issue is identifying their target market. Once this is accomplished, they should create valuable content that speaks to these problems, engaging their audience at multiple stages in the buying journey. This will establish the brand as an authority and pave the way for a meaningful connection.
Creative Mindscape in the Manufacturing Sector
Creative Mindscape works with manufacturing companies of various sizes and in diverse specialized fields. Our team comes alongside these organizations on numerous levels, whether that means developing a blog, acting as a company’s virtual CMO or any degree of assistance in between. Along with established marketing proficiency, our team understands the distinctive needs and challenges of the manufacturing sector, as well.
There is no one-size-fits-all marketing plan at Creative Mindscape. Just as your company is unique, we believe that a customized digital marketing strategy will provide the results you expect. Our custom plan will suit your specific needs and address your marketing goals.