Navigating Disruption in the Manufacturing Industry
Supply and Demand Chain Executive wrote that nearly 94% of Fortune 1000 companies are facing supply chain disruptions, and 75% have experienced negative impacts on business. While widespread digital transformation was already occurring, now more than ever companies are turning to artificial intelligence and other technologies to stabilize and future-proof operations.
Traditionally, cost management and efficiency were the leading objectives of the modern supply chain. However, the stress of recent disruptions, ranging from fallout related to COVID-19 to international trade and tariff regulations, revealed that those goals are not enough for a business to stay afloat. Instead, to successfully navigate unprecedented disruption across the industry, manufacturers must invest in digital capabilities that will help to achieve great customer loyalty and business growth.
Investing in digital opportunities
Historically, manufacturers outside of fashion and lifestyle brands mostly maintained a sales-focused relationship with other business partners. But in today's competitive landscape and facing unprecedented disruption, that strategy is no longer enough of a differentiator.
The Manufacturer reported that 76% of companies said they intended to increase their investment in digital technology, roughly three times the rate of 2019. Increasingly, manufacturers are recognizing the importance of leveraging data and martech to establish a stronger market position.
Within the manufacturer industry, ChiefMarketer has found that the biggest hurdle for marketing teams comes from trying to get prospects to engage or finding high-quality leads. That’s where a strong marketing strategy comes in:
● Publishing digital content: According to Content Marketing Institute’s 2020 B2B Content Marketing Benchmark report, close to 70% of the most successful B2B marketers have a documented content marketing strategy. Not only does strong content attract more of an audience, but it’ll also help teams to position the brand as an expertise in the industry.
● Leveraging best SEO practices: The path to purchase is no longer clear cut. For some customers, dozens of touchpoints and interactions with a brand will be needed to generate that final sale. A recent Statista survey found that for most marketers, search engine optimization (SEO) will be one of the leading drivers of online traffic. By utilizing the phrases and terms potential prospects will be looking for on search engines, manufacturers get better position on their site for more organic hits.
● Personalized advertising: Although content marketing and SEO can help to drive organic lead generation, paid marketing campaigns still offer markets a strong platform to engage customers. By using data to leverage targeted keywords and further understand buyers, manufacturers can achieve personalization at scale.
By investing in a stronger digital presence, manufacturing companies can grow their potential market, generating the customer loyalty and stakeholder support needed to maintain growth during these challenging times.
Achieving supply chain resilience
Leveraging the data collected through digital marketing efforts and other first-party sources to generate actionable insights will be critical in securing resilience across manufacturing operations. However, simply investing in new technologies will not be enough to build customer loyalty and business growth — instead, businesses need the tools to continuously analyze and refine their marketing strategy.
At R2integrated, we work to help manufacturers embrace digital change to better understand their audiences and build strategic relationships. With the right digital technology and strategic capabilities, your organization will gain the ability to understand demand, evolve and increase production innovation and scale communications to drive business growth and customer loyalty.
If you're ready to start your journey to digital maturity, get in touch with our team today.
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