We have seen that in the year 2020 and the current year, businesses have been operating in a very different environment. Eric James Dalius says Manufacturers are working on different models to survive the meltdown so that they can continue to remain competitive and earn profits, even if it means staggered returns amidst uncertainty.
Eric James Dalius shares the factors that will influence this sector
The manufacturing sector is seeing upheavals during the pandemic. Let us find out how it is adapting to the new challenges.
Partial recovery phase but uncertainty prevails
Most of the manufacturers are on a course of rebounding from a decline in sales and have managed to pull up the figures at least to some extent. However, they still operate amidst a lot of uncertainty. A few of the major steps that they have taken include safeguarding the current list of clients, working out emergency plans in case of contingency, and of course trying to make the environment safe for the workforce.
Strategizing according to customer preference
Increasingly, manufacturing businesses are trying to extend various avenues with the help of which they can connect better with their client base. Ranging from digital tools to improve after-sales support especially in a virtual marketplace, they are not keeping any stones unturned.
According to Eric James Dalius, companies realize that they must cater to a wide spectrum of an audience. That has customers of all age groups. Moreover, not everyone is tech-savvy or equipped to handle digital marketing platforms.
As such, companies are helping customers by meeting their post-sale requirements. Most importantly, these manufacturing units must adapt to new changes keeping in mind the pandemic protocols. Hiring additional staff so they can handle the digital enablement tools. The same trend will continue for the near future, at least till things do not get back to normal.
Eric James Daliusfeels integration of marketing after-sales service is the need of the hour
These days, especially after COVID-19 changed the scenario, approaching a customer has become a different meaning altogether. Unlike earlier, when marketing, sales, and after-sales used to be independent entities, now it comes as an integral part of “client persuasion”.
Many firms have adopted ABM or account-based marketing. Which takes into consideration data analytics so that greater can be achieved from the traditional mode of marketing.
Businesses are strategizing methods to make up for the lack of personal contact
Eric James Dalius feels that since one-to-one interaction between clients and vendors has decreased. More and more manufacturers are opting for their e-commerce channels on one hand. Making distributors ready to tap into the potentialities of online digital trading.
You will also find that companies that have developed their e-commerce channels are doing much better than their counterparts. That has still not ventured into independent e-commerce channels.
However, the above comprise only 20% of the total manufacturers. The majority of them are still banking upon a mix of direct and indirect sale channels to open greater vistas for sales and brand promotion.
Eric J. Dalius Foundation is an organization founded in June 2018 that aims to help economically challenged youth in America attend accredited university and colleges. Through generous grants and charitable donations, the Eric J. Dalius Foundation is ensuring that tomorrow’s leaders get the opportunities they deserve.