With a shift in the global manufacturing trends and the recent Brexit vote, UK’s manufacturing industry is facing a new set of challenges. Capability to address these challenges and reorganise the whole strategy will determine the sector’s development potential for years to come.
A solid growth rate in manufacturing output is essential for stability of UK’s economy. Although during the last few decades Britain has lost some of its core industries (such as mining and steel industry) the actual number of manufacturers has risen.
According to a recent (July 2016) study by the Confederation of British Industry (CBI) quarterly Business Optimism Balance has tumbled from a somewhat optimistic score of -5 to an alarming -47, which is lowest since the 2008 recession. We have identified a need for specialised industrial marketing services geared towards a better understanding of B2B marketing strategies. Read more about how to approach your manufacturing marketing strategy.
While it may look like bad news all around, there are manufacturing businesses that see these challenging times as a great opportunity to expand their scope to a global scale, up their production volume and launch the so-called Industrial Revolution 2.0.
Another challenge for the UK’s manufacturing industry is the strength of established manufacturing infrastructure in China and emerging manufacturing hubs like South America. Nevertheless, the UK has strength and a potential competitive edge over the established players in terms of its intellectual capital and R&D potential.
While some market analysts hold a negative view on Britain’s potential as a global manufacturing powerhouse, there are plenty of sources that take a more optimistic stance.
NSAFD have pointed out that Brexit provides an exciting opportunity for a range of UK businesses by freeing them of EU red tape and allowing them to improve efficiency and competitiveness on the global manufacturing stage.
The next few years are likely to transform the industry, and companies need to develop an industrial marketing strategy to match the new outlook. With new methods of prototyping, increasing pervasiveness of big data and a tendency towards “servitisation”, the key industry players will look to shift from marketing products to marketing solutions or integrated product-service systems.
We have the tools and experience to help you build a bigger picture of your industry market sector. By looking at things your competitors are doing right and things they’re not delivering on, we can design a marketing plan to serve as a roadmap towards your success.
This will increase awareness of market dynamics, increase the effectiveness of long-term marketing strategy and help you avoid being outsmarted by competition.
94% of B2B transactions get researched online prior to making a decision. Selling products is no longer good enough because buyers are using the internet to search for solutions. Whether you're involved in construction or manufacturing, we can help you with lead generation.
We will show you how you can sell solutions by means of inbound marketing using channels like social media and blogging. Although lead generation channels like Twitter are often regarded as exclusively B2C, we can show you how to get results from efficient B2B social media approach.