6 Reasons Why You Need Digital Marketing to Grow Your Business
Manufacturing has always been at the forefront of change and innovation, notably in creating and implementing new measures to better serve the needs of the company and its customer base. But the rapid pace of technological growth – paired with reluctance to invest in new and/or unexplored systems – has left small and mid-size businesses struggling to keep up in an increasingly connected world.
However, digital marketing services can be utilized for different purposes in different industries with the ultimate goal of increasing revenue and establishing credibility. The following reasons not only address the numerous benefits of incorporating digital marketing in your overall strategy, but also how different techniques can grow your business sooner rather than later.
Lead delivery and conversion – Lead scoring empowers companies to better track how customers are finding them. By using a marketing automation platform in conjunction with a CRM, manufacturers can easily monitor how incoming traffic gets converted to leads, followers, subscribers, and/or closed sales.
Reduced marketing costs – Traditional media like print, radio, and television harbor high rates, and are in some cases ineffective at getting to your target market. Digital marketing not only touches a wider range of clients, but also bears better returns on investment. In fact, findings from a recent study noted that 40% of surveyed small and mid-size companies claimed they saved money by using digital means of promotion.
Level playing field – Now that digital marketing services are becoming more cost-effective, they are no longer exclusive to large, multinational corporations. Smaller companies are now granted access to services and capabilities that can help them better compete in growing industries. Sales and marketing strategies as a whole are also subject to expansion, enabling manufacturers to compete on similar levels.
Better customer interaction –In today’s world, consumers are more likely to follow or purchase from companies with a personal touch, and aspects of digital marketing allow small manufacturers to reach out to their customer base with new products and updates on the company. In particular, branching out into social media – especially Twitter, Facebook, and Linkedin – builds trust and credibility, leading to substantial increases in sales and revenue.
Enhanced identity and brand reputation – In addition to customer interaction, active social media accounts and a comprehensive website offer brand enforcement not found in traditional media. People are now more likely to trust companies that have clear messaging and a substantial digital presence, as interactive elements like forms, buttons, and feeds can generate excellent results.
IoT Integration – Over the last decade, the Internet of Things has grown into a hot topic for manufacturers, and many companies are now embracing the ideology of interconnected devices on the shop floor. Digital marketing can act as the first step to preparing you for this shift, and will eventually play a larger role in how you streamline your business.
Curious about how MAGNET can help with your digital marketing plan? Call Linda Barita at 216.391.7766 or email firstname.lastname@example.org to get started!
HEADLINE The survey definitively shows that product innovation leads to more growth, while “grow your own workforce” strategies will be needed to fill the major labor shortages hampering small manufacturer growth. Emerging technologies like the Internet of Things (IoT), 3D printing, and digital manufacturing are beginning to enhance innovation and productivity, but still have significant room for adoption amongst Ohio’s small manufacturing businesses. ABOUT THE SURVEY Under the direction of the Ohio Manufacturing Extension Partnership (Ohio MEP), MAGNET: The Manufacturing Advocacy and Growth Network conducted a thorough survey of Ohio’s manufacturing base. Contributing approximately 20% of Ohio’s jobs (and driving in some regions up to 50% of Ohio’s economy), and generating a disproportionate amount of export revenues and Gross Regional Product, manufacturing is critical to Ohio. Greater than 95% of Ohio’s manufacturers are small (under 500 employees), and these manufacturers need to remain competitive both nationally and internationally to ensure our economy’s health. Ohio’s Development Services Agency and the National Institute of Standards and Technology, which runs the MEP, recognizes the importance of this sector and fuels MAGNET and the Ohio MEP program to directly serve and support innovation, efficiency, and growth in small and medium manufacturers. What manufacturers need
How Virtual Reality and Augmented Reality Can Help Keep Our Engineers Safe and Our Manufacturing Strong Recall how difficult it was to put together complex LEGO creations when you were a child or helping a child. Now, picture assembling a fighter plane from a room full of parts. Even highly trained engineers can benefit from technology to help improve consistency and quality. Virtual reality (VR) and augmented reality (AR) are making near-perfect assembly a possibility in the manufacturing space. By wearing AR glasses that use cameras, depth sensors and motion sensors to overlay images onto the real working environment, engineers and factory workers can visualize the exact bolts, parts, part numbers and instructions on how to assemble a particular component correctly. Lockheed Martin began using AR goggles and improved F-35 assembly time by 30 percent, in addition to increasing accuracy to 96 percent. In order to remain competitive, businesses should consider the ways VR and AR can improve efficiency and supply chain productivity. According to a recent BofA Merrill Lynch Global Research report, AR platforms can provide companies up to 25 percent in cost savings on installation of equipment. Here are four ways VR/AR is disrupting the mid-market manufacturing space:
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