Article | February 14, 2022
B2B e-commerce for manufacturers is seeing resurgence in the manufacturing business. Today's manufacturers are moving away from old business models and heading towards digital ones.
“E-commerce isn’t the cherry on the cake, it’s the new cake”
- Jean Paul Ago CEO L’Oreal
The Manufacturing & E-commerce Benchmark Report says,
98% of manufacturers have, or plan to have, an e-commerce strategy.
42% of manufacturers who are engaged in e-commerce and digitalization said it has improved customer relationships.
The statistics above shed light on the manufacturing industry's development. We must acknowledge that our physical factory is transitioning into an e-commerce factory. B2B businesses are taking advantage of the convenience of browsing online product catalogs without having to go to the site.
Why Is E-commerce for Industrial Products Important?
Consumer behavior is driving transformation in the manufacturing space, particularly with the shift to digital channels. Manufacturers who still handle consumers solely by phone, fax, or email run the risk of losing their loyal consumer group. This is because, in recent years, their worlds and preferences have grown increasingly digital.
In the Manufacturing & E-commerce Benchmark Report, manufacturers claimed that internet sales accounted for over half of their total income. So, manufacturers have come a long way since their earlier days. According to Digital Commerce 360, 80% still relied on their internal sales force to boost revenue. But we all know that manufacturers can do more to meet B2B customer needs.
Today's B2B clients expect self-service options in addition to transactional websites. These buyers want reliable information from your web business, whether it is inventory levels, product specifications, order history, or their personal negotiated discounts. It should be available anytime and wherever customers desire.
“You can’t wait for customers to come to you. You have to figure out where they are, go there and bring them back to your store”
- Paul Graham, Y COMBINATOR
The key reasons for the demand for e-commerce for industrial products are
75% of B2B goods are purchased online.
1 in 3 buyers pick a vendor on the basis of its online ordering, payment, tracking, and return capabilities.
B2B Manufacturing E-commerce Benefits
A B2B e-commerce platform helps manufacturers across sectors to increase productivity, reduce costs, and simplify procedures. A web-based manufacturing e-commerce catalog significantly reduces the cost of printing product catalogs. It automates time-consuming operations such as catalog relevance maintenance, data cross-checking, and human data entry. It can connect with ERP, CRM, PIM, and other systems, thus streamlining a lot of back-end operations.
Manufacturers have to cope with enormous orders and diverse customers. Fortunately, many B2B e-commerce platforms allow for customized pricing lists and RFQ procedures. Personalized and smooth ordering is possible with configurable back-office operations. It eliminates mistakes and saves time by processing orders quickly.
Online consumer data helps manufacturers grow their businesses. An e-commerce platform gathers data about purchases, sales, refunds, shipping, and more. This data helps to forecast trends and optimize inventory and delivery. This information can help product developers make their products better, sales reps find customers, and marketing teams find customers.
Unlock Revenue Sources
While some businesses were already in the process of shifting online, the pandemic has accelerated the digitization process and showed that shifting online is the only option to counteract declining physical revenues. An internet store brings new customers to traditional businesses. A solid SEO strategy and a mobile-friendly shop may help them establish a large client base and sell more to them.
A well-designed manufacturing e-commerce site will automate back-office tasks and allow users to self-serve their orders. Automation relieves salesmen and increases operational hours. As a result, manufacturers may sell 24/7 and personnel can explore other revenue-generating options.
Gain Brand Awareness
E-commerce is a great marketing tool for manufacturers. They can help with search engine visibility, especially as B2B customers increasingly use Google to study firms. This could help people who make and sell things, as well as distributors and retailers who work with them.
Expand to New Markets
Vertical, market, and geographic expansion become simple with the proper e-commerce solution. Flexible solutions let businesses grow into new areas and respond to opportunities faster. Aside from B2B sales, several manufacturers choose B2B2C sales or direct-to-consumer sales (D2C). As manufacturers diversify their companies, these tendencies gain traction.
Manufacturing e-commerce is more than just online shopping and selling. It's not simply about interacting with clients on the Internet. “E-commerce is a business tool that may help your company profit from bigger digital transformation and business evolution projects. Having a successful and expansive manufacturing business requires the design of an interactive and customer-centric B2B e-commerce platform. So, if you haven't considered converting your physical goods factory to an e-commerce factory yet, now is the moment.
Why is web server bandwidth vital for e-commerce sites?
Web server bandwidth is also significant because the more bandwidth available, the more simultaneous visitors your site can handle. Most ISPs and web hosts must supply adequate bandwidth to handle peak demand.
What policies must e-commerce sites have before going live?
How is e-commerce useful for manufacturers?
E-commerce allows manufacturers to test new products without risking a large investment. Instead of opening physical storefronts or stocking inventory, you may start selling the new product online.
Article | March 7, 2022
Big data analytics in manufacturing is all you need to improve your business's efficiency, quality, and productivity in today's data-driven industry. It helps you transform your business data into actionable analytics to make informed decisions on business processes and operations.
“Data is the new science. Big data holds the answers.”
– Pat Gelsinger, CEO at VMware
The significance of manufacturing industry data analysis is critical, and many manufacturers have recognized this and have started incorporating it into their manufacturing operations. According to Research and Markets, the manufacturing sector market was worth $904.65 million in 2019 and is predicted to grow to $4.55 billion by 2025.
In this article, we'll look at the importance of big data in manufacturing, its applications, and how some of the industry's major players are incorporating it into their manufacturing processes and operations.
Why Do Manufacturers Need Big Data?
Big data analytics in manufacturing helps manufacturers find new information and identify trends. This enables them to improve operations, increase supply chain efficiency, and identify variables that affect production.
Many leaders from the manufacturing industry recognize the importance of big data and have either started applying it to their business or are planning to do so.
According to a KRC research report, 67% of manufacturing executives considered investing in manufacturing data analytics, especially in the face of pressure to minimize costs in this volatile market.
According to MicroStrategy, 59% of organizations worldwide are using big data analytics.
Big Data: From the Past to the Future
Herman Hollerith invented the first punch card tabulating machine that marked the foundation of data processing. Hollerith's tabulating device was utilized to process data from the 1890 United States Census. Later that year, in 1911, he formed the Computing-Tabulating-Recording Company, which evolved into IBM. It is now based in Armonk, New York, with operations in more than 171 countries.
This international corporation develops computer hardware, software, and middleware, and provides hosting and consulting services in different sectors, ranging from mainframe computers to nanotechnology. The company is a significant research institution that has set the bar for the number of U.S. patents generated annually by a firm for the last 28 years (as of 2020).
Companies Using Big Data Analytics
The enormous benefit of big data is its capacity to assist businesses in innovating and redeveloping their products. Essentially, big data has evolved to generate additional revenue streams by enabling innovations and product development. Before developing new product lines or redesigning old products, organizations begin by fixing as much data as possible.
How does Amazon make use of big data?
Most people are familiar with Amazon Fresh and Whole Foods Market. This is an excellent illustration of how big data can benefit the growth of innovation and product creation. Amazon uses big data analytics to get a foothold in a vast market. Amazon's experience in data-driven logistics enables the creation and achievement of more value. By focusing on manufacturing analytics, Amazon Whole Foods deciphers how customers purchase products and how suppliers engage with the store.
Big data enables supplier networks to operate with increased precision, clarity, and insight. Suppliers achieve contextual insight throughout supply chains by utilizing manufacturing data analysis. Essentially, providers can overcome previous limitations using big data analytics.
How does PepsiCo leverage big data to optimize its supply chain?
PepsiCo is a consumer packaged goods company that depends mainly on massive amounts of data to operate its supply chain efficiently. The organization is committed to restocking the shelves of shops with the proper quantities and varieties of products. Clients give reports on their warehouse and point-of-sale inventory, which the company uses to reconcile and estimate production and shipment requirements. This way, the corporation guarantees that shops have the appropriate products, in the appropriate quantities, and at the appropriate times. Read our latest infographic to learn more about increasing the efficiency of your manufacturing business.
Big Data in Manufacturing: Use Cases
Supply Chain Management
Big data allows manufacturers to track their products' actual position. The ability to track is one of the most important features offered by big data to manufacturers. Traceability is important since many products released by manufacturers are lost or hard to trace. Barcode scanners and radio frequency transmission equipment can set up a parcel's coordinates. These devices broadcast the product's location, pinpointing its exact location.
Identifying client needs is a challenge when predicting market trends. Big data assists by predicting client requests and assisting with product delivery timings. This type of forecasting can help businesses improve their profits and workforce by looking at their supply chain.
Production Management Once businesses have discovered market requirements, the same analytics for manufacturing can assist them in evaluating the volume of products necessary in the market. Previously, when big data analytics did not exist, businesses relied on human estimates, which frequently resulted in excess or insufficient production. This technique has been deemed obsolete because of its inaccuracy. Instead, organizations gain intuitive insights from the data they collect and analyze using big data analytics for manufacturing.
When a company manufactures something, it intends to maintain its machinery, from how it currently runs to what changes are required to keep it working properly. These robots' sensors may continuously collect data. Device data helps firms determine when and how much maintenance a machine needs. Big data analytics can help manufacturers keep track of their machinery by assessing and improving their efficiency.
For a company to run properly, they must monitor their daily activities, production capacity, and financial performance. Big data analytics can help manufacturing organizations by giving intuitive insights from numerous sources. These sources include operating machines, databases tracking unit production, and employee records. This data can help corporations make profitable improvements.
Quality control is important in manufacturing since the products must be of the highest quality. Big data analytics can also help here by providing vital information about any changes in the development process.
Businesses recognize the need to utilize technological breakthroughs as manufacturing transforms. Big data analytics helps enterprises not only track and forecast market demands but also maintain quality measurements and standards. This ensures product quality and increases profitability for a manufacturer's products.
We understand the significance of big data in manufacturing, and the sooner you start collecting data on your manufacturing processes, the sooner you can implement the latest advancements. Therefore, delve further into big data, data analytics, and data science services to assist your manufacturing organization in growing and blooming to the next level.
Is data science the same as big data?
No, data science and big data are not synonymous. Big data collects varied and complicated data, whereas data science is a multidisciplinary area that tries to generate broader insights from data.
What purpose does data serve in manufacturing?
Manufacturing data provides a deeper insight into market trends, a complete grasp of client needs, and predicts future trends. In a nutshell, it includes everything necessary for manufacturing companies to maintain a competitive edge.
How are manufacturing data defined?
Manufacturing data refers to all data, information, materials, and documentation developed or generated in connection with the product’s manufacturing. This includes manufacturing and control data as well as additional data and documentation requested by or submitted to a Regulatory Authority.
Article | December 23, 2021
Sustainable business strategiesare bringing significant financial and environmental benefits to manufacturers. Sustainable manufacturingcreates goods while minimizing environmental consequences and preserving energy and natural resources. In addition, sustainable production improves the safety of workers, the community, and the products they produce.
Allied Market Research projects that the worldwide renewable energy market will reach $1,977.6 billion by 2030, increasing at an 8.4% CAGR. As a result, we can conclude that many businesses are transitioning from traditional manufacturing to sustainable manufacturing.
It’s a good time to be a part of the renewable energy industry. New technologies are coming to market every day, and we work in an industry that is trying to solve an enormous challenge.
– Susan Stone, Chief Executive Officer at Ubiquitous Energy, Inc., in conversationwith Media 7
Though many organizations are pioneering the sustainable manufacturing approach, we have selected five of the most well-known companies making serious attempts to be sustainable manufacturing companiesby all means.
In addition to the list of sustainable manufacturing businesses, this article will discuss the advantages of sustainabilityand how organizations may become carbon neutral. So let's get started.
Top 5 Companies with a Sustainable Business Model
The following are five manufacturing businessesthat are investing in sustainable manufacturingmethodsacross their production processes to become more responsive to our mother earth.
The company is reducing its environmental effect by engaging with suppliers, taking climate action, and driving the shift to a circular economy. Climate change is a key concern for Philips. So they are rethinking their business strategies and decoupling economic development from environmental and social impacts.
They met their aim of becoming 100% carbon-neutral in their operations and procuring 100% of their power from renewable sources by 2020. They intend to obtain over 75% of their total energy usage from renewable sources by 2025 and to reduce CO2 emissions across their whole value chain to meet the 1.5°C global warming state.
Sustainability is profoundly embedded in SCHOTT's DNA. It derives from their distinctive business concept, which dates back to 1896. Their sustainability plan includes responsible governance, workers, society, environment, and climate.
“Regarding climate change, it is high time to act. Everyone must take responsibility – politicians, companies and society. We are ready to play our part. We want to become climate neutral by 2030.”
- Dr. Jens Schulte, Member of the Board of Management with responsibility for the “Zero Carbon” strategy program
Long-term thought and responsible behavior are guiding principles of SCHOTT, which is why they care about the environment and climate. They are entering a new era of sustainable management with their “Zero Carbon” strategic program.
Long term, they seek to eliminate fossil fuels as soon as technologyallows it. They are focused on the most energy-intensive stage of glass melting to create new solutions.
IKEA's low-cost furniture utilizes a lot of wood. But because the company employs sustainable forestry practices, your new minimalist nightstand didn't cost the globe a rainforest. The business is also investing heavily in solar and wind energy. This year, the corporation intends to increase its already significant expenditures in renewable energy, to reach 100% clean energy by 2020. It also leads in offering cleaner, greener products.
In addition to encouraging people to walk, this footwear manufacturer uses recycled aluminum frames in its headquarters in the Netherlands, and underground energy storage to reduce its carbon footprint. Moreover, it has implemented stringent emission regulations at all of its manufacturingfacilities and has cut its overall carbon footprint by around 80 % since the late 1990s. The company also sells the most environmentally-friendly soccer sneakers on the market.
Johnson & Johnson
According to the company, Johnson & Johnson has just begun transitioning a significant portion of its energy reliance to solar power in an effort to become the world's most socially responsible organization. Currently, it is the second-largest user of solar energy in the United States, with more than half of its power coming from environmentally friendly sources.
Rewards of Adopting Sustainable Manufacturing Practices
Many businesses are seeking sustainabilityfor many reasons, including:
Reducesoperating expenses and waste
Respondsto new consumers and get a competitive edge
Buildspublic trust and protect brand and reputation
Createslong-term business viability
Recognizesand address regulatory constraints
What Can We Do to Make Sustainable Manufacturing a Reality?
Every business must support green energy projects. Here are some fundamental actions that every business should take to transform itself into a sustainable manufacturing organization.
Maximize the Efficacy of Fossil Fuels
In today's society, energy conservation is a win-win situation. Approximately half of the world's known oil reserves have been exhausted, which means we are near to the point of diminishing returns in terms of supply. As far as we know, there hasn't been a shortage of supplies. Shutting down unwanted equipment might help you save money immediately. Replace a single-speed motor with a variable speed or servo drive. Use a hydraulic pump with variable speed. Wind, solar, and hydropower can also be used to conserve energy.
Reduce or Eliminate Waste
Don't overindulge; merely take in what you need to get the task done. At this point, we may all agree that it's easy, but in the past, our primary focus was on reducing productioncosts or time to market. Whether we were wasting resources was unknown or irrelevant to anyone. Metal, paper, and packaging are all examples of industries where this is true. The potential for waste reduction may justify the purchase of highly accurate production equipment.
As a byproduct of manufacturing, metals may be easily recycled and used for new products. In addition, recycling metal saves money and energy since it uses less energy in the manufacturing process, allowing for a 60 % or more reduction in the energy needed to make new products.
Sustainable manufacturing practicesare making manufacturing industries more socially responsible and carbon neutral. This new manufacturing method is necessary for today's period because we must consider future generations while improving today's. Natural resources must be conserved before depleting, and we have nothing left to offer future generations. Responsible organizations have already used this sustainable approachin their manufacturing processes, and we anticipate that every company should consider this method to be more sustainableand environmentally responsible.
What is the difference between green and sustainable manufacturing?
The main difference between green and sustainable is that green addresses a single aspect i.e., environmental health, but sustainability addresses the entire system, including economic, social, and environmental aspects.
Which business is more environmentally friendly?
According to Corporate Knights, Alphabet, Tesla, and AstraZeneca were among the world's most sustainable companies in the Global 100 Index for 2021.
What are the four sustainability factors?
The word sustainability refers to programs, activities, and actions to preserve a resource. But it relates to four unique key areas. Human, social, economic, and environmental are the four pillars or factors of sustainability.
Article | January 4, 2022
Lead generation for manufacturers has always been tough due to a lack of knowledge about new technology and trends that can help them generate more business leads. There are still a lot of small and mid-sized manufacturing companies that rely on antiquated manufacturer lead generation methods.
In this article, we'll discuss some proven methods for generating leads that can help you increase your company's sales and improve your overall return on investment.
"Don’t think of your lead as "LEADS." Instead, think of them as people who are frustrated because understanding and buying your product is too hard. Your job is to make it easy for them to learn about your product and get started. "
—Andy Pitre, VP of Product, HubSpot
So let's get started.
Factors That Must Be Aligned to Drive New Business Leads
Landing pages are mini-websites embedded into your site. To deliver an experience that speaks directly to the user's intent, marketers use landing pages. Create unique landing pages for every industrial lead generation campaign.
To generate quality leads, you need to have a strong call to action (CTA). CTAs are usually buttons that allow users to submit information, visit a landing page, or download an e-book or white paper.
Your CTA must be compelling. Give your prospects a reason to click and remove any barriers to the click. CTAs should be bold, high-contrast, and easily identifiable.
Without forms, it is impossible to collect leads. Therefore, visitors will be asked to fill out forms that collect their contact information in exchange for an offer.
Every lead contains a transaction. A company provides a valuable service in exchange for a prospect's contact information. You won't get many leads unless you provide value to your potential customers.
This offer comes in the form of an e-book, consultation, coupon code, or whitepaper. To generate more leads, make compelling offers.
The above components can't exist if you don't have a website. If you want to emphasize your business, you need to generate quality leads. Why? Because most of today's B2B buyers are millennials, who are highly tech-savvy and increasingly conduct their supplier research online.
How to Generate Manufacturing Leads: 5 Effective Techniques
Create a Website That Converts
"The lead generation process starts by finding out where our target market ‘lives’ on the web."
– Wayne Davis
Your website should be a trusted source of quality leads. Unfortunately, many companies lose sight of this and develop websites that are cumbersome and difficult to browse, causing a rift between you and your potential customers.
Don't expect people to behave if your site doesn't encourage them to act. Your website should have clear "call to action" buttons and lead capture options that allow visitors to contact you in a simple and pleasant way.
Additionally, there are website optimization tools available, including PageSpeed Insights, Hotjar, Google Optimize, and WAVE. All of the above-mentioned website optimization tools provide complimentary services. So, this is the most accessible and most reliable approach to generating web leads.
Make Descriptive Infographics
Infographics are a great way to provide prospects with helpful information while motivating them to contact you. Most importantly, infographics establish your company as a thought leader and unconsciously identify you with industry authority.
According to recent surveys,
Nearly 41% of respondents indicated that infographics and illustrations are the most effective solutions for achieving their business objectives.
On social media, infographics receive three times the number of shares as other types of content.
Articles that included infographics received 72% more views than standard articles.
A great infographic has a great design. If your organization lacks an in-house graphics team, you can simply locate a freelance designer to create a stunning infographic for you.
Your infographics are ageless pieces of material that can be reused for smart marketing and lead generation manufacturing.
Here's an example of an infographic from Digital Marketing Philippines from 2019 that received over 1,600 shares and is jam-packed with data and text. In this way, you can see how the company may have gotten its leads from these 1600 shares, each of which is a potential customer.
Host an Event
According to Bizzabo,
86% of senior management (Senior Managers, Executives, and Board Members) believe that in-person events are critical to the success of their company.
The majority of B2B marketers (97%) believe in-person events have a significant impact on achieving business goals.
According to Marketing Charts,
68% of B2B marketers agree that in-person events aid in lead generation for manufacturers, while case studies help with lead conversion and acceleration.
Improve manufacturing lead generation through events that can occur both online and offline. Organize any kind of event to attract your target market while collecting contact information. Use live events to interact with consumers in real-time, answering questions, addressing objections, learning about your audience, and guiding prospects through the sales funnel. Consider webinars, workshops, seminars, meetups, and conferences.
Create a Value-Packed Newsletter
"Content is the fuel for your lead generation efforts."
– Dayna Rothman
According to the Content Marketing Institute,
31% of B2B marketers believe email newsletters are the most effective way to nurture leads.
81% of B2B marketers report that email newsletters are their most frequently used form of content marketing.
Create a must-read newsletter that invites interested prospects to engage and remain connected with your company. This enables you to stay top-of-mind with consumers and promote your products and services to move prospects along the sales funnel.
The newsletter can have new blog entries, product or service updates, special deals, upcoming events, and recommended reading from other thought leaders.
Incorporate SEO into Your Marketing Plan
According to Intergrowth,
61% of B2B marketers say SEO and organic traffic generate more leads than any other type of marketing.
Search engine leads convert at a rate of 14.6%, while outbound leads (cold calling, direct mail, etc.) convert at a rate of 1.7%.
Manufacturers are no exception when it comes to the importance of search engine optimization (SEO). As a result, you may generate many leads with the correct marketing approach and a profound grasp of SEO for manufacturers.
When we consider the statistics explained earlier in this article, we can see the benefits of all of the techniques mentioned and how they can help you increase your lead generation and, as a result, your overall business ROI.
Thus, we can refer to the above-mentioned lead generation techniques as sales-driven strategies that will assist you at every lead generation and conversion stage. Improved lead generation for manufacturers enables businesses to reach a vast customer base and generate more high-quality leads.
What is a high-quality lead in manufacturing?
Leads of high quality have an increased propensity to convert into paying consumers. The more qualified your leads are, the more likely they will buy your product or service.
What are the lead generation challenges?
Making accurate data, shaping conversations, and converting qualified leads into sales are some of the significant challenges in manufacturing lead generation.