Article | November 20, 2021
The manufacturing business has always prioritized providing the excellent and most user-friendly products worldwide to its target consumer groups. However, digitalization and customer interaction approaches have altered the manufacturing industry's traditional business model.
Now, manufacturers must prioritize improving the customer experience for their target consumer group and keeping up with new trends daily to flourish and remain competitive in the upgrading market. Because, in the end, the buyer is the one who drives your business and generates money. Manufacturers are committing significant efforts to improve the customer experience in the following years.
To assist manufacturers in their sincere efforts to improve the customer experience in the manufacturing industry, we have compiled some key facts that must be understood and executed by the industry's or business-specific needs.
Before going into manufacturing customer experience statistics, it's essential to understand why customer experience is so critical in the manufacturing industry.
The Importance of Customer Experience in Manufacturing
Customer service and experience are critical components of any business, which is true in the manufacturing sector. Customer experience can be described as any activity taken by a business to positively influence a customer's impression and opinion of the business, its products, or services.
“You’ve got to start with the Customer Experience and work back toward the technology, not the other way around”
– Steve Jobs.
Customer experience benefits your business in a variety of ways, including the following,
It increases customer retention
It increases the customer lifetime value
It creates brand loyalty
It influences brand reputability
It can deliver businesses with a competitive edge.
Manufacturing Customer Experience Statistics
Make your manufacturing business more customer-centric and reap the benefits that many customer-centric companies, such as Apple, Nissan, and Chick-fil-A, are experiencing.
To better understand what the customer and industry have explored regarding the customer experience in 2022, below are some statistics from well-known businesses.
Businesses that prioritize customer experience see an 80% increase in revenue.
A positive customer experience increases customer interest in the product and acts as a form of word-of-mouth marketing. This way, the business benefits from increased sales and organic promotion by genuine consumers, critical for any manufacturing organization.
# Stat 2
73% of customers say that customer experience influences their purchasing decision.
Customers are not solely concerned with the product's quality or pricing. Instead, they are interested in the complete experience they get while purchasing a product. Therefore, if customers have a negative experience during the purchasing trip, it is pretty likely that they will leave the purchase process in the middle and hunt for other viable solutions on the market. Whereas, if the purchasing journey and post-purchase service are satisfactory, they will gladly purchase the goods and suggest new clients to your business.
# Stat 3
By 2023, AI and machine learning will manage around 40% of all consumer contacts.
(Source: Super Office)
Manufacturing production and revenue are increasing as a result of technological advances and applications. However, the customer experience is not far behind in implementing cutting-edge technology like AI, VR, and AR. For instance, chat bots are the best example of how artificial intelligence, natural language processing, and machine learning are being used to increase consumer engagement.
Virtual interaction is becoming more prevalent in the manufacturing industry daily, and both manufacturers and customers like this digital interaction.
“Our interactions with our customers have become much more virtual, which frankly seems to work well for the customer and us.”
-Scott Heide, Chief Executive Officer at Engineering Intent Corporation
Technology application in manufacturing will be maximized, and businesses intend to automate the customer experience by 2023.
# Stat 4
According to 70% of customers, an ideal customer experience should be quick, convenient, and cooperative, as well as friendly.
Customer service is a skill, and it's always a good idea to put yourself in your clients' shoes. According to an Adobe study, 70% of customers want a quick and convenient service that saves them time. In addition, they anticipate full collaboration throughout the purchasing process, including post-purchase servicing.
# Stat 5
72% of customers with a good consumer experience will tell six or more people about it.
(Source: Nice Reply)
In the first statistic, we discussed word-of-mouth marketing. You will always receive referrals for the excellent products or services you provide to your target consumer group. Customers that have a positive experience will always bring you two additional potential customers, and this number will grow exponentially with each pleasant experience delivered by your organization.
How did MacDonald's plan to increase revenue simply by improving the customer experience?
When McDonald's revenues started to decline, they focused on the customer experience rather than marketing strategies.
They began by listening to their clients and giving them a more streamlined experience. Customers told McDonald's to simplify the menu, increase order accuracy, and use higher-quality ingredients.
McDonald's also improved store interiors and introduced digital self-order kiosks and table service, reducing customer wait times. BTIG predicted a 4.1% increase in revenues as these modifications were made. As a result, McDonald's may outperform competitors by improving total customer service.
Customer experience is crucial in manufacturing, and manufacturers must leverage digital customer experience trends to improve their reputation. These a fore mentioned customer experience statistics can assist you in shaping a compelling client experience for 2022 and propelling your organization to new heights of success.
Why should a manufacturing company invest in customer experience?
Client experience improves customer retention, builds brand reputation, and gives companies a competitive edge. So manufacturers must invest in the consumer experience.
What is the difference between customer service and customer experience?
Customer service is one aspect of the customer journey, whereas consumer experience is the sum of all customer encounters with the brand.
What does a customer experience include?
Customer experience is the overall perception of your business or brand. It is the consequence of a customer's engagement with your website, customer service, and the product they purchase. So, it is the aggregate of all elements from browsing to buying to the product experience.
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Article | May 8, 2020 |
Ergonomics International’s Evidence-Based Risk Analysis Software Suite utilizes standardized tools which have high validity and reliability. These tools provide management with real-time data to make evidence-based decisions, yet data is simple enough for ergonomic, safety, occupational health, Lean Manufacturing, and Six-Sigma professionals to understand and apply.
TRC: Specifically, how does this technology help a QA/QC professional know whether an ergonomic hazard exists?
Sam/Mark: Many times, quality findings are present where mental or physical demands exceed the capabilities of the individual. This can occur when the speed of movement or decision-making thresholds are greater than of those of the individual based on known decision-making capabilities.
These breakdowns lead to increased rework and failures in the quality verification leading to a repetitive cycle of failure. This leads to increased work and resources to produce the same number of products at a higher cost.
The SaaS (Software as a Service) system evaluates the job or task to determine if the level of repetition exceeds known standards determined to be harmful.
Article | July 14, 2022
Given the current state of the economy, industrial executives may be asking their CTOs, "Why do a digital transformation and risk diluting our margins when our EBIT numbers are excellent?"
Our competitors will do it if we do not.
Customers have requested it, and we must comply.
The world is becoming more digital, and we must adapt.
To increase our total addressable market, we must diversify our business portfolio.
All of these digital and technological investments have been made to support this strategy.
All of these are valid reasons to get started and keep going. However, there aren't enough to persuade a CEO and CFO to "swallow the fish “and invest in low-return innovations. This becomes even more complicated when your performance is exceptional and you are growing. Furthermore, most companies have reported record profits since the pandemic and are now facing what could be a major recession.
In the context of the impending economic slowdown, there is a better way to persuade these executives to support your digital initiatives and invest in recurring business models.
First, you must alter the overall narrative of your business cases and investment requests. Profitable growth must be prioritized over explosive growth at any cost or growth that is not supported by convincing evidence of success. SaaS providers and tech start-ups with a manufacturing component are currently facing an investment crunch and have begun to cut costs and focus on profit. So, referring to successful unicorns and the rule of 40, for example, would not be a clever idea today! Second, in order to make the case for investing in digital innovations, you must change the overall arguments.
Five critical considerations for your business case presentation:
Maintain focus and reinforce the current business model
Prioritize high-profit margin areas
Concentrate on differentiation and high-value innovations
Ascertain that your sales enablement program is well-executed
Involve finance to obtain profit and loss projections
The pursuit of growth for the sake of growth is no longer an option. The new strategy is to grow to support the core and increase profitability. This may necessitate changes in the way your digital organization operates, is
Article | August 6, 2020
In the last two weeks, global manufacturing production has continued to climb, reaching 91% of pre-pandemic rates of activity as of August 2. As reported last month, activity in 2020 (indicated by blue line, below) continues to resemble trends seen in 2019 (see orange line, below). However, not all regions are experiencing the same rate of growth. A variety of different influencers are impacting the activity within plants in specific countries.