How to Build Supply Chain Resilience and Agility

| 6/4/2020 12:00:00 AM
HOW TO BUILD SUPPLY CHAIN RESILIENCE AND AGILITY
A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supply chain resilience and agility in times of crisis. As the COVID-19 pandemic disrupts global supply chains, procurement organizations around the world are scrambling to react. There are many supply chain management lessons to learn from the Covid-19 crisis.

Spotlight

Tip Top Poultry

Tip Top Poultry is a family owned and operated food manufacturer headquartered in Marietta, Georgia. Since 1947, we have consistently supplied Tip Top quality service and products to our customers. Today, we continue to develop products to meet the needs of the industrial, export, retail and food service markets.

OTHER ARTICLES

COVID-19 and the future of manufacturing

Article | April 16, 2020

As we have all been moving so quickly handling the many facets of this crisis, I finally took a few moments to reflect on the magnitude of it all. Sitting here in my basement office at my home, I have a few personal observations. First is, quite simply, people helping each other. Neighbors are helping neighbors they might not have even spoken to before. I have been so impressed with the sense of community, the willingness to take a step back and care for each other, evaluating the situation of others and accommodating their needs.

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Ways Small Manufacturers Can Better Adapt to Remote Work

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5 Marketing Myths Manufacturers Often Get Mistaken About

Article | February 22, 2021

The manufacturing industry has struggled in the past few decades due to being affected by a down economy. The competition was high as developing economies entered the landscape of international markets. As a marketer, there are always new mediums to drive business growth. Whether it is current advertising trends or content best practices, you need to stay updated. It is because the risk of missing out on valuable opportunities can take your business far behind. In this struggle, you are not alone. A lot of manufacturers are often mistaken about some common marketing myths in manufacturing that affect their business. As per a recent research by Accenture, 90% of CEOs and CMOs anticipate that the role of marketers is changing. 75% of CMOs believe that past strategies will not be as effective as new strategies to reach customers. Other reports mention that 65% of manufacturers believe that they are behind their competitors in the digital arena. Yet, they are willing to put more dollars and are eager to enter the digital landscape of marketing. Still, many of them are dealing with some common marketing myths in manufacturing. Time to debunk the marketing myths in manufacturing! Myth No. 1: Manufacturing Still Uses Obsolete Processes The manufacturing industry was believed to rely on obsolete and legacy processes and that undergoing a digital transformation would be too costly. In fact, the traditional processes cost more money to maintain. Even though online digital marketing is becoming widely known, some skeptics still think it is just a myth. What Is the Fact? As the manufacturing industry is adopting innovative solutions, many manufacturers have inculcated online processes and streamlined all to improve efficiency and output in the digital marketing landscape. Shifting to cloud technology will no longer require housing hardware or hiring full-time staff to manage the operations. With cloud solutions, updates are conducted automatically. Myth No. 2: Buying Costly Technology for Marketing Automation Would Boost Revenue Costly, technologically verified marketing tools do not automatically add to your marketing and sales leads database, nor will they automatically generate quality sales leads. Here are some common mistakes manufacturing marketers make when they consider implementing costly technology for marketing purpose: • They do not understand the need for marketing automation If there is no plan or strategy to use the tool, there’s less chance of generating quality sales leads. • Failing to check the marketing process If you haven't prepped your team to align with your current marketing strategy, then automation won't help. • Generally, forget that content is king If your content doesn’t engage your audience, your marketing strategy won’t give the desired/necessary results. 2.1 What Is the Fact? Marketing automation tools such as HubSpot, Marketo, and others can serve as real digital marketing platforms. Whether it is for email management, blogging, or social media posting, marketing automation helps keep a check on the overall digital marketing performance. Therefore, there is no need to install costly digital marketing solutions but the right one. Getting the right tool can stop the common errors and help your business drive growth like never before. Myth No. 3: Every Lead Is Equally Important When the business is new, it's exciting to see interested buyers knocking on your door to buy your product/service. But leads that aren’t genuinely interested can waste your valuable time. This is why most manufacturing marketers get struck by the most common marketing myth—every lead is equally important. What Is the Fact? Instead of spending time fostering every lead through the pipeline, focus on your ideal customer. This will only bring the right customers in from the beginning. So, do you want to know who that right target audience can be? For this, create multiple defined personas based on your best customers to identify clients' characteristics, traits, and thoughts. Then, put those characteristics to work in your marketing material. Communicate directly to those who you think can be a good client fit. This way, you will be able to qualify quality leads at the beginning. This will further help your marketing team to pitch more as your company grows and matures. Myth No. 4: It’s Hard to Determine the ROI Somewhere along the way, this marketing myth in manufacturing was created. Fortunately, it couldn’t be more wrong. What Is the Fact? Implementing the right marketing automation platform can easily track prospects from their initial interaction to a sale. According to a report, marketers saw a higher ROI in 2019. It was due to online marketing. They reportedly used marketing automation software. Marketing software allows you to effortlessly check analytics. It allows keeping a watch on what is working and what is not. In the same year, marketing survey teams checked marketing metrics three or more times a week. The result they saw was likely to see an increased ROI of over 20%. This way, this marketing myth has been put to rest. The truth is digital marketing can generate a determinable revenue for the future. Myth No. 5: B2B Manufacturers Do Not Target Social Media Channels This marketing myth existed for a long time in manufacturing. But the fact is social media is a powerful tool to expand a company’s online presence. As per a recent IEEE GlobalSpec survey, over 1,400 industrial engineers and technical professionals regularly visited social media sites. They searched for industry news, product reviews, and expert advice. Almost 60 percent of them reported using YouTube or other video-sharing sites to get more industry-related information. What Is the Fact? Not surprisingly, the same survey found other industrial millennials who were more likely to use social media, especially Facebook and Twitter. In fact, many existing industrial businesses, across all age demographics today, prefer LinkedIn and Facebook platforms the most. The above statistics show that you can't overlook social media platforms when inculcating digital marketing strategies into your business. A YouTube video is an excellent medium for demonstrating a new assembly line capability or sharing any recent manufacturing innovation. Well-researched posts on LinkedIn, Facebook, or Twitter can even build industrial credibility and demonstrate manufacturing expertise. But, how you decide what to post on social media platforms is the kicker. Whether your post matters to those you are trying to approach should be the primary concern. This way, social media can be a boon. And it has, to a great extent, broken this marketing myth in manufacturing. Using social media channels, you can easily and rapidly get a stream of traffic to your website to stand out from the competition. Thinking of social media as a sales tool won’t benefit you. Instead, considering it as a mechanism to add value to your existing customer base and keep them coming back for more will benefit your company the most. Debunking these marketing myths in manufacturing is the start when you are heading to build a marketing team. Or to incur the best digital marketing strategies. So, breaking these myths will offer insights and knowledge about your digital marketing performance. Having a structured and tangible plan will turn that knowledge into fruition. 6 Frequently Asked Questions What is the most common myth in the manufacturing industry? The most common marketing myth in the manufacturing industry is that workers aren’t compensated well. This myth has been debunked. Research says that hourly income has risen 17% higher than other industries. What is the most common technology in the manufacturing industry? 3-D printing is the most common technology in the manufacturing industry. It is used in many manufacturing projects at an initial stage as well as to the final ones to create advanced requirements. Does costly marketing technology raise sales in manufacturing? Not necessarily. But using the right marketing technology can raise sales in the manufacturing industry faster. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What is the most common myth in the manufacturing industry?", "acceptedAnswer": { "@type": "Answer", "text": "The most common marketing myth in the manufacturing industry is that workers aren’t compensated well. This myth has been debunked. 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Spotlight

Tip Top Poultry

Tip Top Poultry is a family owned and operated food manufacturer headquartered in Marietta, Georgia. Since 1947, we have consistently supplied Tip Top quality service and products to our customers. Today, we continue to develop products to meet the needs of the industrial, export, retail and food service markets.

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