Traditionally, manufactures do not place marketing at the top of their overall budgets. Manufacturing companies spend about 8% of their total budgets on advertising, lead generation, and business development combined. If you are spending only a portion of that 8% on advertising and using traditional marketing methods, you are missing out on a multitude of potential customers and ultimately wasting your money. You already know that your buyers are online. In fact, 94% of B2B buyers research online before purchasing any business product, according to the 2019 State of B2B Procurement Study. In addition, 56% of engineers are in their 2nd or 3rd buying stage before contacting the sales team/vendor. Wouldn’t you prefer to meet your customers at the beginning of their buying process?
The number one marketing goal for manufactures is building Brand Awareness. In today’s world, it is impossible to build Brand Awareness without a digital strategy. Digital marketing provides channels to showcase your capabilities, speak directly to interested buyers, and demonstrate what sets you apart from the rest – resulting in more sales. Utilizing different means of content such as videos, webinars, and blogs about your company and products establishes you as an expert in your field. An online presence is essential to communicating with your audience, learning the challenges your customers face, and demonstrating why your products are the solutions to those challenges.
A recent survey by Content Marketing Institute found that 86% of manufacturing marketers used content marketing for lead generation in 2018. The survey further revealed that 82% of manufacturing marketers who use digital marketing for their companies believe that increased content creation has led to an increase in success over the last year. In comparison, 67% of manufacturing marketers blame not enough time devoted to content creation to their stagnant success over the last year. Overall, 77% of marketers surveyed have seen an increase in their conversion rate due to successful digital marketing campaigns.
These statistics prove that implementing an effective digital strategy will maximize your advertising budget with measurable results. Through digital tactics, your audience reach is vast compared to traditional methods, and also allows you to identify and focus on your specific target audiences. With digital marketing, data driven statistics provide accurate measures for ROI. Online Marketing Institute.org states, “Across industries, digital marketing can increase sales from existing customers by up to 15%. This is great news for manufacturers looking to boost customer retention and earn repeat business from the same clients.”
Now that you know why manufacturers need digital marketing, are you ready to get started? At KeyMedia Solutions, we use the latest in marketing technology to identify your target customers, grow your brand, and keep you one step ahead of your competitors. Our team of experts will listen to your needs and customize a digital strategy tailored to your goals that delivers results. Contact us today!