“By 2020, 60-70% of new car sales leads will be generated by a digital platform, says Frost & Sullivan, be it via websites, mobile sites, social media or apps.“
“In the first-ever analysis of the defense industry’s use of social media by UK-based Defence-IQ, 62% of respondents believe that it is very important, if not critical, that defense contractors improve their online and social media presence.”
These statements are about 2 different manufacturing industries, one of which has been using digital platforms extensively and the other which has probably never thought of using digital marketing platforms. The message is loud and clear, every industry is striving to make its presence felt on digital media. In years to come, having an online presence will not remain an option but become a necessity.
Benefits of Digital Marketing:
Digital Marketing Vs Traditional Marketing – Benefits for Manufacturer:
Unlike traditional marketing which only few could afford, Digital marketing is open for all. Digital Marketing creates a level ground for SME’s to compete with bigger players. There are avenues to advertise within any budget . The return on each advertising dollar spent can be tracked and accordingly campaigns can be changed or altered. The campaign size and reach can be easily scaled up or cut down. The reach can be controlled according to the audience targeted. Whether you want to market to a region, city or to a Global audience; you have complete control. It is also possible to track audience reaction through social media monitoring
Digital Marketing offers direct connect with customers. Manufacturers can get product feedback, sales leads, referrals, first reactions with the help of social media monitoring.
Channel Mix: Strengths
Manufacturing Industry – Supporting Channel Mix:
Digital marketing is bestowed with numerous avenues to market. Be it content, images, videos or text ads, there is a channel for everything. Here is our analysis on what channels would work for each industry:
Buying Phase – Content – Channel Mix:
In 2013, India’s GDP had 56.9% contribution from Services while Manufacturing contributed only 15%. Within last one year focus has shifted from Services to Manufacturing for a sustainable growth of the nation. As the Make in India campaign gains momentum, it will bring opportunities for manufacturers and at the same time challenges. Expect increase in competition for domestic and global sales. Digital marketing in coming years would not be an option but a need for manufacturers.
It will be very important to have an online presence. Online presence begins with hosting a “.com” domain for the business. Having a “.com” domain adds credibility to the business. Customers in B2C space are accustomed now to look for testimonials and reviews before making a purchase. This trend is expected to pick-up for the B2B space as well.
According to a research published by CEB’s Marketing Leadership Council in 2013, business buyers do not contact suppliers directly until 57 percent of the purchase process is complete. Which means before the first contact is made; buyer is already forming opinions, learning specifications, narrowing down options without the influence from the manufacturer. Buy the time buyers contact, they have hardened expectations. It is important to influence in the initial 57%, which usually happens online. Customer learning is ongoing and it is important to understand when customers need a YouTube video and when a Whitepaper.
Sokrati offers Digital Marketing for Manufacturers:
Sokrati takes a holistic approach at designing digital marketing strategy for each of its client. We consider the Industry of the Manufacturer, Base and Service Location and Company Type to name a few.
This helps us in deciding the channel mix. We have channel experts who own strategy for each channel. We meticulously plan scheduling and campaigns for each channel depending on the target audience and channel characteristics. For instance, we run campaigns for restaurant clients aggressively during peak demand hours. We have been awarded for having highest average Google Adwords Quality Score twice in a row which means we are consistently delivering high quality ads since two years.
Once the campaigns go Live, we closely monitor performance. We track for Impressions, Clicks, Leads, Market basket and Revenues to name a few. We have developed an in-house vertical scoring metric to gauge performance for different industry verticals. Sokrati has a state of the art advertising platform and a strong analytics team which is constantly looking for insights to improve and deliver value of each dollar spent by client.